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

P&O Cruises Australia operations set to disappear

Carnival Corporation, the world’s largest cruise company, has announced a ‘strategic shift to further leverage its scale and strengthen its performance in Australia and...
Advertisement

Related articles

P&O Cruises Australia operations set to disappear

Carnival Corporation, the world’s largest cruise company, has announced a ‘strategic shift to further leverage its scale and...

Green Navy showcases Europe’s first electro-hydrogen catamaran at NAVEXPO in Brittany

In late May 2024 Green Navy, the French company launching ‘Prometeo’, Europe’s first electro-hydrogen propulsion catamaran for commercial...

Latest LNG-powered containership handed over to CMA CGM

The 13,000TEU LNG-powered containership CMA CGM Sao Paulo has joined CMA CGM’s large fleet of LNG-fuelled vessels. China’s Hudong-Zhonghua...

Pioneer of Europe’s first electro-hydrogen catamaran marks six months of build

On 16 May 2024 Green Navy, the French company launching ‘Prometeo’, Europe’s first electro-hydrogen propulsion catamaran for commercial...