Irish Continental Group has inked a deal for a record-setting cruise ferry as part of its fleet renewal effort.

Eamonn Rothwell-led ICG will pay EUR 165.2m ($199m) for the vessel at Flensburger Schiffbau-Gesselschaft.

The ship will boast a capacity of 5,610 freight lane metres, making it the largest cruise ferry in the world in terms of vehicle capacity.

Rothwell, chief executive of ICG, says the company has invested EUR 315m of late to upgrade its service in the Irish Sea.