The boat will now undergo engine commissioning trials and remain off the coast of Whanganui for other testing.
It can carry 400 passengers and is propeller-powered by two Cummins 50L, 1800 horsepower diesel engines and has an operational speed of 24 knots, with a top speed on 28-30 knots.
Q-West general manager Colin Mitchell said the contract had been great for Whanganui and Q-West which has four vessels under construction at its yard with about 65 people employed.
"Our own staff is around 30, so another 30-35 extra men came from local businesses. The whole town really got in behind this."
He said the contract would help Q-West's reputation around the world.
"(Fullers) are a great customer and have been very good to work for," Mr Mitchell said.
"It give us the ability to sell into other markets, like Australia, where probably ferries this size are more common place."
Q-West's slipway had to be dredged to allow the new boat into the water.
"We've always had the challenge of the silting up of the river around here. It has to be dredge to create a hole for the boat to slip into. That's the reality of our location."
With a crew on board it took about half an hour to slip Tōrea into the river.
"It's a big undertaking for a boat this size, to launch. Then she'll go down to the wharf and then go out to sea and start the engine commission trials," Mr Mitchell said.
"Probably at the end of the second week (Fullers) will take official delivery. They normally take it up the west coast. They have their own crew."
Mr Mitchell said Fullers operate about 16 vessels and Tōrea will be running about 20 hours a day.