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New Owner Acquires Isle of Wight’s Historic 'Red Funnel' Ferry Operator

10th October 2025
One of three Red Funnel ‘Raptor’ class passenger ferries (above), its fast craft, and the freight-only ro-ro Red Kestrel, built by Mersey shipyard Cammel Laird, have been sold to new owners. Across the Irish Sea, AFLOAT highlights, Belfast-based Artemis Technologies is constructing a zero-emission, electric e-foiling Artemis EF-24 Passenger craft for the Southampton-West Cowes route. The above Solent scene shows Southampton-based heritage excursion steamship SS Shieldhall, which in July celebrated its 70th. The milestone was marked with special anniversary sailings, retracing its old Southern Water routes as a sludge vessel with volunteers—including a few members of the Red Funnel crew, who are proudly part of this National Historic Fleet vessel.
One of three Red Funnel ‘Raptor’ class passenger ferries (above), its fast craft, and the freight-only ro-ro Red Kestrel, built by Mersey shipyard Cammel Laird, have been sold to new owners. Across the Irish Sea, AFLOAT highlights, Belfast-based Artemis Technologies is constructing a zero-emission, electric e-foiling Artemis EF-24 Passenger craft for the Southampton-West Cowes route. The above Solent scene shows Southampton-based heritage excursion steamship SS Shieldhall, which in July celebrated its 70th. The milestone was marked with special anniversary sailings, retracing its old Southern Water routes as a sludge vessel with volunteers—including a few members of the Red Funnel crew, who are proudly part of this National Historic Fleet vessel. Credit: Red Funnel-Linkedin

Njord Partners, a UK-based investment firm, has made its acquisition of an Isle of Wight ferry passenger and freight operator, Red Funnel, which is to use a Belfast-built electric fast craft, writes Jehan Ashmore.

The development marks an exciting new chapter for Red Funnel, the iconic ferry operator that has served the Isle of Wight for over 164 years.

Over the past five years, Red Funnel has faced challenges. According to the ferry firm, which includes the 2019 Mersey (Cammell Laird)-built freight-only ro-ro ferry, Red Kestrel, its significant indebtedness has severely limited the company's ability to invest.

However, last month’s acquisition milestone transaction creates a strong foundation for enhancing services between Southampton-West/East Cowes and delivering services for Red Funnel passengers. Among them, Afloat also adds, will be the Belfast-built zero-emission electric e-foiling Artemis EF-24 passenger-only craft, which is under construction by Artemis Technologies for the Southampton-West Cowes route. 

Red Funnel is the original Isle of Wight ferry company, with its roots tracing back to 1820. It carries 2.3m passengers and over 800,000 vehicles on its main Southampton-East Cowes run by a trio of Raptor-class ferries. In addition to 1.1m passengers on the Southampton-West Cowes using a pair of Red Jet hi-speed passenger-only craft. It competes with Wightlink, whose services are based out of neighbouring Portsmouth and Lymington. 

Njord Partners brings a strong track record of investing in and supporting growth at UK businesses. It has particular expertise in the hospitality and maritime sectors, with portfolio companies including the Irish ports of call visiting Ambassador Cruise Line, Geoquip Marine, and the Valiant Pub Company.

Published in Ferry
Jehan Ashmore

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Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals. 

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Ferry & Car Ferry News The ferry industry on the Irish Sea, is just like any other sector of the shipping industry, in that it is made up of a myriad of ship operators, owners, managers, charterers all contributing to providing a network of routes carried out by a variety of ships designed for different albeit similar purposes.

All this ferry activity involves conventional ferry tonnage, 'ro-pax', where the vessel's primary design is to carry more freight capacity rather than passengers. This is in some cases though, is in complete variance to the fast ferry craft where they carry many more passengers and charging a premium.

In reporting the ferry scene, we examine the constantly changing trends of this sector, as rival ferry operators are competing in an intensive environment, battling out for market share following the fallout of the economic crisis. All this has consequences some immediately felt, while at times, the effects can be drawn out over time, leading to the expense of others, through reduced competition or takeover or even face complete removal from the marketplace, as witnessed in recent years.

Arising from these challenging times, there are of course winners and losers, as exemplified in the trend to run high-speed ferry craft only during the peak-season summer months and on shorter distance routes. In addition, where fastcraft had once dominated the ferry scene, during the heady days from the mid-90's onwards, they have been replaced by recent newcomers in the form of the 'fast ferry' and with increased levels of luxury, yet seeming to form as a cost-effective alternative.

Irish Sea Ferry Routes

Irrespective of the type of vessel deployed on Irish Sea routes (between 2-9 hours), it is the ferry companies that keep the wheels of industry moving as freight vehicles literally (roll-on and roll-off) ships coupled with motoring tourists and the humble 'foot' passenger transported 363 days a year.

As such the exclusive freight-only operators provide important trading routes between Ireland and the UK, where the freight haulage customer is 'king' to generating year-round revenue to the ferry operator. However, custom built tonnage entering service in recent years has exceeded the level of capacity of the Irish Sea in certain quarters of the freight market.

A prime example of the necessity for trade in which we consumers often expect daily, though arguably question how it reached our shores, is the delivery of just in time perishable products to fill our supermarket shelves.

A visual manifestation of this is the arrival every morning and evening into our main ports, where a combination of ferries, ro-pax vessels and fast-craft all descend at the same time. In essence this a marine version to our road-based rush hour traffic going in and out along the commuter belts.

Across the Celtic Sea, the ferry scene coverage is also about those overnight direct ferry routes from Ireland connecting the north-western French ports in Brittany and Normandy.

Due to the seasonality of these routes to Europe, the ferry scene may be in the majority running between February to November, however by no means does this lessen operator competition.

Noting there have been plans over the years to run a direct Irish –Iberian ferry service, which would open up existing and develop new freight markets. Should a direct service open, it would bring new opportunities also for holidaymakers, where Spain is the most visited country in the EU visited by Irish holidaymakers ... heading for the sun!