Advertisement

New owner for Red Funnel

Red Funnel has a new owner, with a consortium of British and Canadian pension schemes, led by the West Midland Pensions Fund and the Workplace Safety and Insurance Board of the Province of Ontario, buying the historic operator of car ferry and high-speed services from Southampton to Cowes.

No price has been disclosed but previous owner Infracapital paid £200 million for the company in 2007 and earlier this year there was talk of an asking price in the region of £250 million.

Red Funnel chief executive Kevin George said: ‘We are all excited to be working with the consortium as we continue to grow the business and provide safe and reliable ferry services.”

Red Funnel is currently working on projects including new high-speed units and a fresh generation of hybrid ro-pax ferries. RP

Ships Montly - January 2024

Portugal contracts Damen to build Multi-functional Naval Platform

Portugal’s National Defence Ministry has contracted Damen Shipyards for the design and construction of a so-called Multi-functional Naval Platform. The €132 million multi-purpose vessel is...
Advertisement

Related articles

Portugal contracts Damen to build Multi-functional Naval Platform

Portugal’s National Defence Ministry has contracted Damen Shipyards for the design and construction of a so-called Multi-functional Naval...

NYK Stolt Tankers orders six chemical tankers

Stolt-Nielsen Limited has announced that its Joint Venture between NYK Line and Stolt Tankers (NYK Stolt Tankers, or...

LDA and Norsepower join forces in shipping Airbus aircraft components

LDA and Norsepower have joined forces in shipping large Airbus aircraft components, with a future fleet of low-emission...

Griffon Hoverwork awarded design and feasibility work by Canadian Coast Guard

The Canadian Coast Guard (CCG) has asked for engineering design consultancy services from Griffon Hoverwork to update their...