HALIFAX -- Nova Scotia's transportation minister says there will be a ferry running between Yarmouth and Maine this year despite the fact that the company hired to operate the service doesn't have a ship yet.

Geoff MacLellan says acquiring a ferry is a complicated process and he trusts that Bay Ferries Ltd. is going through it as quickly as possible.

Bay Ferries issued a press release Thursday saying they have been looking for a vessel since the fall, but said they couldn't discuss the status of the search because they are competing against other operators.

The province named the company as the new operator of the service late last year.

Nova Star Cruises had operated the ferry for two years and received a total of $39.5 million in provincial subsidies, but it fell significantly short of its passenger targets.