Sailings have been suspended by P&O Ferries as the company confirmed it has made 800 employees redundant.
The ferry operator had said in an internal statement it will make "a major announcement" which will "secure the long-term viability of P&O Ferries".
Following hours of speculation, a spokesman said: "P&O Ferries plays a critical role in keeping trade flowing, supply chains moving, and connecting families and friends across the North and Irish seas and the English Channel. We have been at the heart of this service for years and we are committed to serving these vital routes."
