The Bonanza Express catamaran was due to start running a cross-Channel service last year under plans announced by Euroferries.
After repeated delays, the ship’s owners Fred Olsen said it is not leasing the vessel to the company.
The ship has now had Euroferries’ logo removed and has returned to its previous shuttle service between Tenerife, Gran Canaria and other Canary Isles.
A Euroferries spokesman said the company was confident a service will still begin later this year but as we went to press had not confirmed which ship, or ships, would be used.
The company has removed all references to the Bonanza Express from its website, which is still taking bookings for March.
That start date is the fourth announced by the company which tried to get the service running in March, August and November last year, when it was forced to refund many customers the £65 cost after the launch date was postponed again.