The SeaLink Travel Group has renewed contracts to operate ferry services in north Queensland for another five years.

The transport operator will continue running ferry services from Townsville to the tourist hotspot of Magnetic Island.

The company has also agreed to increase ferry runs from Townsville to residential Palm Island from four to five trips a week and to put on more services for major events.

SeaLink Travel Group managing director Jeff Ellison says the contracts secures more than $9 million of revenue a year.

He says the company’s new investments will include a floating pontoon berth on Palm Island and adding an additional vessel to its Townsville fleet.

Palm Island, known for a 2004 riot following a death in custody, is trying to re-invent itself as a tourist destination.