Island Consortium Calls For Government Talks On Future Of Red Funnel Services

Vectis Ferries Limited has written to the Secretary of State for Transport, calling for formal discussions about the future of Red Funnel’s ferry services to the Isle of Wight.

The move comes as the proposed sale of Red Funnel Group to investment firm Njord Partners remains under review under the National Security and Investment Act 2021.

The sale follows an 18-month process during which Red Funnel’s business plan reportedly failed to attract support from several potential investors and operators.

Vectis has raised concerns that Njord Partners, described as a turnaround and distressed-asset investor, has not made any public commitment to funding new vessels.

The company says there is “material uncertainty” over the replacement of Red Funnel’s Raptor-class ferries, which have now been in service for more than 30 years.

A Vectis spokesperson said the decisions being made now will shape the Island’s transport reliability and economic future for decades, and that long-term investment must take priority over short-term financial restructuring.

Vectis says it has developed a fully costed alternative proposal featuring faster and more frequent crossings, more Island-based jobs, and long-term capital investment.

The plan also supports the idea of an independent oversight body to set service standards and ensure operator accountability.

The company argues that the Department for Transport’s approach to cross-Solent services has historically been shaped by familiarity with existing operators, and that now is the right time for Ministers to review all available options in an open and evidence-based way.

Vectis has also highlighted that Red Funnel has changed ownership several times over the past 25 years, without a consistent programme of fleet renewal, and is asking to present its plans to the Government before any sale is completed.

The company says it supports efforts by the Island’s MPs to establish a statutory framework to oversee lifeline ferry services in the public interest.