Problems at the bank that owns the Isle of Man Steam Packet Company won’t mean any changes at the ferry firm.

Last week, Banco Espirito Santo – which bought the Steam Packet in 2011 - said it had insufficient finances to deal with its parent company's debt problems.

On Thursday, the bank’s share price fell sharply, before trading in its shares was suspended by regulators in Lisbon.

But a statement from Steam Packet Chief Executive Mark Woodward says there’s no reason for passengers here to worry.

The Bank of Portugal said at the end of last week there was no reason to intervene at Banco Espirito Santo.

And this morning, the company announced a restructuring plan to deal with its debts.

In a statement, Mr Woodward said the Steam Packet is aware of the recent developments.

But he added he doesn’t anticipate that there will be any impact on Steam Packet Company operations.