A Nova Scotia businessman is trying to keep the dream of a Halifax-Boston ferry afloat.

Martin Karlsen, lead partner with American Ferries Inc., has spent years researching the feasibility of a passenger and vehicle ferry service between the two cities. He'd like to launch the route this year, but he's still looking for a ship and investors.

"Without the ship it can't be done," Karlsen told CBC News on Tuesday. "And the ship needs to have certain characteristics in order to do the service."

Karlsen said the ship would have to have overnight cabins and room to carry between 1,200 and 1,400 passengers. The "mini-cruise" would take about 18 hours, and the price would depend on the ship.

"It will not be more expensive then flying or driving, I can guarantee you that," he said.

Finding the money for such a venture isn't easy. Karlsen said there have been some discussions, including talks with people in Norway. He said he has already had preliminary discussions with the Halifax Port Authority and port officials in Boston about securing berths.

Karlsen said he would try to launch the service without government subsidies. However, he added, since the project would mean a lot for Nova Scotia tourism and regional development, he would expect some government involvement.

"At the same time, it is very much a public product so I think the government — federally, provincially, municipally — needs to be involved," he said.

The ferry service between Nova Scotia and Maine won't resume this year. Bay Ferries Ltd., which runs the Cat high-speed ferry, shelved the run between Yarmouth and Portland and Bar Harbor after the province refused to subsidize it further.

Karlsen said he believes a direct Halifax-Boston route may be more attractive to travellers, particularly those who didn't want to drive down to the Yarmouth and Maine ports from bigger cities.

"No one has a problem with the ferry ride to Bar Harbor or Portland. It's the distance between Halifax and Yarmouth, and on the other side from Bar Harbor and Portland to the big market in Boston that's the big challenge. And this will eliminate that challenge," he said.

Karlsen continues to push his proposal along.

"It's a question of when will it all fall in place," he said. "We're still optimistic that it might happen in 2010. But Rome was not built in a day. If the right ship isn't secured within the next month or so we're looking at 2011."