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The Business Magazine May 2024
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Isle of Wight ferry begins new life in South Korea

The Business Magazine article image for: Isle of Wight ferry begins new life in South Korea
Image: Red Funnel
17 June 2024
Image: Red Funnel

A former Isle of Wight ferry is starting a new life in South Korea and was lifted out of the water in Southampton in May to begin its new voyage, it was reported.

Red Jet 4, which travelled between Cowes and Southampton for two decades was built in Tasmania in 2003, and was sold to South Korean ferry firm Nam Hae Express Co.

Red Funnel acquire Blue Funnel Ferries

Having been hoisted onto a cargo ship last month, it is now set to carry customers between some of South Korea's most popular tourist destinations.

Red Funnel CEO Fran Collins reportedly said the firm was very proud of the vessel's service across the Solent and wished Nam Hae Express the best.

Red Funnel has said her sale was part of a ‘strategic decision’ to focus on the upkeep and reliability of its Red Jet 6 and 7.

Nam Hae Express Co reportedly operates four car ferries and six high-speed catamarans and Red Jet 4, which can carry 271 passengers, is the latest vessel to join its fleet.


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Giles Gwinnett is a writer at The Business Magazine. He has been a journalist for more than 20 years and covered a vast array of topics at a range of media settings - in print and online. After his NCTJ newspaper training, he became a reporter in Hampshire before moving to a news agency in Gloucestershire. In recent years, he has been covering the financial markets along with company news for an investor-focused web portal. His many interests include politics, energy and the environment. He lives in Dorset.

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