ONE of the most recognised Great Barrier Reef operators has posted a multi-million dollar turnaround and is poised for an even better 2013.

The new owners of Ocean Spirit Cruises have turned a loss of $2 million into break-even, a year after buying the troubled business.

The Australian Cruise Group is confident of further growth and increasing tourism numbers, both domestically and internationally.

Ocean Spirit Cruises managing director Pat McLoughlin said he was using 25 years' experience as a mariner and an entertainer to revive the operation after selling his famous "red shark" jet boating business on Sydney Harbour.

"I believe Cairns is the ultimate tourist destination," Mr McLoughlin said.

"We see a lot of opportunities. The market was very flat and it was a good time to buy.

"I'm determined to make the business profitable again."

Mr McLoughlin said $3 million had been spent buying the company and another $1 million refurbishing Ocean Spirit 1 and Ocean Spirit 3 catamarans.

"The key is we believe in Cairns and this is an Australian family-owned and operated business," he said.

Mr McLoughlin said there were opportunities to add a third catamaran to the fleet and more staff after having to reduce numbers to 25 full and casual staff after the takeover.

Mr McLoughlin's partner Nikki Giumelli is the sales and marketing manager and they have three children Grace, 7, Finn, 5, and James, 3.

He said they were committed to restoring the good name of Ocean Spirit Cruises, which he described as one of the iconic operators along with Quicksilver and Great Adventures.

The company bore the brunt of adverse publicity in November last year when My Reef discount cards offered by its former owner were scrapped, angering many buyers.

Mr McLoughlin said there were opportunities to add a third catamaran to the fleet and more staff after having to reduce numbers to 25 full and casual staff after the takeover.

He said the company was regarded as "the guardians of Michelmas Cay" and would be working closely with the Great Barrier Reef Marine Park Authority and national parks to continue the trust.

The company had reintroduced the popular Saturday night dinner cruises and were hosting three cruises on New Year's Eve next Monday with two already booked out.

"Passengers will have front row seats of the fireworks from the water at 9pm and at midnight," Mr McLoughlin said.

He said Ocean Spirit Cruises would use the resources of the parent company, which also operated Sydney Showboats and Majestic Cruises on Sydney Harbour, to improve operations.

Mr McLoughlin said he would target the emerging Korean market which was doing well in Sydney.

He said Koreans were only 2.8 per cent of their business but were growing. The Japanese with 29 per cent share were number one, followed by Europe (29 per cent), Australia (24 per cent) and China (12 per cent).

"People come to Australia to see Sydney, Uluru and the Great Barrier Reef. That's why we've come to Cairns," Mr McLoughlin said.

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