Red Funnel
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| Red Funnel | |
|---|---|
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| Type | |
| Founded | 1861 |
| Headquarters | Southampton, UK |
| Industry | Transportation |
| Employees | 500 |
| Website | http://www.redfunnel.co.uk/ |
Red Funnel or The Southampton, Isle of Wight and South of England Royal Mail Steam Packet Co. Limited is a British company.
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[edit] History
Formed in 1861, its name remains the longest for a registered company in the United Kingdom. The shortened name was adopted after 1935 when all vessels operated by the company adopted the black-topped red funnel in their livery.
The company originally operated a paddle steamer ferry service between Cowes, Isle of Wight and Southampton, England. In 1931 it introduced its first diesel ferry, the MV Medina III. Ferries have steadily increased in size to the current Scottish-built Raptor class operated between East Cowes and the Town Quay in Southampton. The company also operates highspeed, passenger-only catamarans between Town Quay and West Cowes. Between 1969 and phasing out during the 1990s, this route had been served by Italian-built hydrofoils.
During its history the company operated other routes connecting the Isle of Wight and mainland England. Today, two alternative passenger and two alternative vehicle ferry routes are operated by rival companies such as Wightlink and Hovertravel
In 2001 The company was sold to JP Morgan Partners Inc. by Associated British Ports Holdings, which had acquired the company in 1989 as a White knight to fend off a hostile takeover by Sally Lines. In 2004 the company was sold again in a management buy-out backed by the Bank of Scotland for £60 million. The company was sold from HBOS to the Prudential's infrastructure specialist, Infracapital, in a deal valuing the business at more than £200m in June 2007.
Red Funnel is now a rival to [[Wightlink. Its services operate from Portsmouth and Lymington. Like Red Funnel it operates high-speed ferries that don't carry cars, as well as slower car ferries. Both provide a frequent service.
[edit] Livery
The company's flag is divided diagonally into quarters of (clockwise from the top) white, green, red, blue. This derives from the company's four original steamers: The Pearl, The Emerald, The Ruby and The Sapphire. The current strapline of the Red Funnel The Isle of Wight Specialist which replaced: The Original Isle of Wight Ferries.
[edit] Current fleet
[edit] Car ferries
The following car ferries operate on the Southampton to East Cowes route:
- MV Red Eagle
- MV Red Falcon
- MV Red Osprey
[edit] Catamarans
Four catamarans operate a high-speed passenger-only service between West Cowes and Southampton: they are named Red Jet 1 through to Red Jet 4, the numbering reflecting the order of acquisition.[1]
[edit] Historic fleet
The following ferries have operated on Red Funnel routes:
[edit] Castle Class
- MV Netley Castle
- MV East Cowes Castle
- MV Norris Castle
- MV Carisbrooke Castle
- MV Bergen Castle (Temporary vessel used 2003-2005 during refit period of current fleet)
[edit] Notable events
On March 10, 2006 Red Funnel hit the national headlines after one of their car ferries, the Red Falcon, collided with the linkspan at the Southampton Town Quay terminal.[2] Five passengers and one crew member were injured and significant damage was caused to the Southampton end of the Red Falcon and to the linkspan. The accident occurred 9 years and 1 day after the Red Falcon was in collision with the dredger Volvox Hansa in Southampton Water with limited visibility due to fog. The collision caused a 15-foot hole above the waterline and buckling of the car deck doors but no passengers or crew were injured.
The Red Eagle collided with Humber Energy in the Thorne Channel, near Southampton Water, on the evening of Thursday December 21, 2006.[3] Coastguards said nobody was injured and neither vessel was badly damaged. Richard Pellew, of the Maritime and Coastguard Agency, said: "Having examined the minor damage sustained to the Red Eagle we are advising Red Funnel on the repair work the ferry needs before it can resume normal service.
On April 12, 2007, the owners of Red Funnel (who include HBOS) announced that they were considering selling the Red Funnel.[4] On June 6, 2007 it was reported in the news that Red Funnel has been sold to Infracapitalat a price topping £200m.[5][6]
As reported in the cruise magazine Cruise Business Review, Red Funnel has signed a contract with Hogia Ferry Systems for a new reservations system, Bookit, which will replace the current system.[7]
[edit] References
- ^ Red Jet 1 el factsheets, redfunnel.co.uk
- ^ Investigators examine ferry crash, 'BBC.co.uk'
- ^ Ferry and barge channel collision, 'BBC.co.uk'
- ^ Island ferry company may be sold, 'BBC.co.uk'
- ^ Red Funnel Sold Again, 'Interferry'
- ^ Ferry deal nets managers millions, 'BBC.co.uk'
- ^ Red Funnel goes for BOOKIT, "Cruise business Review 2/2007", 92, ISSN 1235-4678
[edit] External links
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