On what is the first day of the school Easter holidays, the company has blamed an ongoing technical issue for a third day of disruption on its Red Eagle ferry.
It follows cancellations on Saturday and yesterday (Sunday).
Disruption has continued throughout the day between East Cowes and Southampton.
This evening, the 6.30pm and 9.45pm from East Cowes, and the 8.15pm from Southampton have been cancelled.
One of the firm’s vessels, Red Eagle, has suffered an engine issue, Red Funnel has told customers.
A spokesperson at Red Funnel, said: “Due to a failure of Red Eagle’s aft engine high-temperature cooling pump, we’ve had to remove the vessel from service.
“Our technical teams are working hard to make the necessary repairs as quickly as possible.
“In the meantime, Red Falcon and Red Osprey are continuing to sail, offering most passengers previously booked on Red Eagle, the ability to sail either 60 minutes sooner or later than planned.
“We sincerely apologise for the impact to our customers’ travel plans, and appreciate their patience as we work hard to restore the vessel into service as fast as we can.”