Wightlink's FastCat has been pulled from service for the remainder of the day.
The Ryde to Portsmouth is suspended due to a 'mechanical issue', according to the ferry firm.
A spokesperson for Wightlink said:
"Sorry, due to a mechanical issue, the Hbr-Ryde FastCat is suspended for the remainder of today.
"Customers with Wightlink tickets or passes can travel with HT during this time. The HoverBus will be available for transport between Hbr-Southsea HoverTravel."
The suspension of the service is the latest in a long line of cancellations in recent weeks.
*UPDATED
*Wightlink has announced the service will also be suspended tomorrow (Tuesday).