With the $85 million Alakai ferry moored at Honolulu Harbor's Pier 19, the suspension of the Hawaii Superferry's business is creating a heavy financial toll on the company. But Superferry executives say they can withstand the crisis.

"We have the financial wherewithal to weather this storm," said Tig Krekel, a member of the Superferry board and vice chairman of New York-based private equity firm J.F. Lehman and Co., the largest Superferry investor.

The company is paying more than $22,000 a day in financing costs for the Alakai and the construction of a second vessel being built on the Mainland.

The Superferry also has to cover payroll for about 300 employees and other operational costs that mount each day the ship is idle.

Its financial backers have invested about $300 million, including $140 million in bonds that the company issued in April 2006.

"We have tremendous support from our ownership group. Our investors knew this was a major infrastructure investment in the state of Hawai'i," said Superferry Chief Executive Officer John Garibaldi at a news conference Tuesday. "They have a tremendous commitment here to this project."

Hawaii Superferry's largest investor, J.F. Lehman, has invested more than $1.6 billion in companies in the defense, aerospace, maritime and other related industries.

The investment firm is headed by former Secretary of the U.S. Navy John Lehman, who also serves as chairman of the Superferry.

J.F. Lehman acquired a controlling share in Hawaii Superferry in October 2005 when it invested $80 million in the local company.

State Farm Life Insurance Co. is the company's largest bondholder with a 33 percent stake, according to Bloomberg data. Other bondholders include Raleigh, N.C.-based Stonewood Insurance Co., which owns less than 1 percent of the bonds.

Hawaii Superferry's minority shareholders include Maui Land & Pineapple Co. and Kaua'i-based Grove Farm Co. Executives with local retail developer the MacNaughton Group also are minority shareholders.

Jeff Mikulina, executive director of the Sierra Club's Hawaii chapter, said his group never intended to hurt the Superferry financially.

"Our goal is not to get them to hemorrhage money and drive them out of business. Our goal is to get them to comply with the law," Mikulina said.

The Sierra Club was one of several local environmental groups that sued the state to require an environmental assessment on the impact of the ferry service.

"This could have been avoided and should have been avoided," Mikulina said.

Reach Rick Daysog at rdaysog@honoluluadvertiser.com.