HONOLULU -- The Hawaii Superferry is pushing back the introduction of its second ship and the start up of its Big Island service.

The company made the announcement Tuesday, citing the uncertain economic climate.

The folks at Hawaii Superferry said the company is financially sound and the Alakai will continue providing daily service to Maui.

But now, its target date for service to the Big Island is May of 2010.

The Hawaii Superferry's second ship is currently being built.

But instead of arriving in Hawaii to start up service to the Big Island next May the Superferry wants to contract the ship out for one year.

"Frankly, this is just a prudent business decision in the economic climate that we're all working through today," said ADM Thomas B. Fargo, USN (Ret.), President & CEO Hawaii Superferry.

Fargo said the move will immediately save the company about $10 million in start-up costs.

"That's based on what it costs to bring the ship out here in terms of its transit, that's based on capital expenses that we have to invest into the harbors and facilities," Fargo said.

And it'll keep the Superferry financially sound during this bleak economic period.

The company had a good summer with ridership up 40 percent in July.

The Superferry does not expect to make a profit until next May with the Big Island start up one year later.

The company will be targeting tourists. Right now, visitors represent only 20 percent of its passenger load.

"That's largely because it takes longer to ramp up the tourist piece of this because an awful lot of the wholesalers have to put packages together," Fargo said.

The Superferry wants tourists to represent 45 percent of the passenger load.

"A big part of our business base is tourism. We need to move tourists to make this viable, as well as Kama'aina," Fargo said.

So until the economy improves and tourists return to Hawaii, the Superferry will continue its current service to ride out this dark economic storm.

The Superferry has not yet determined how the ship will be used before the Big Island start up. Fargo said it is just starting to explore options.