Red Jet 7 will be built at East Cowes, securing 85 jobs there - and will join the fleet next summer.
More Than 300 Knives Handed In
The mum of a teenager who was stabbed to death in Southampton six years ago is welcoming the results of a knife amnesty held in the city.
Hampshire Police tell us 303 knives and other weapons were left in special bins outside police stations throughout March - they included machetes and samurai swords.
18-year-old Lewis Singleton died after being knifed five times in Woolston in March 2007.
His mum Jen told Heart she hopes the amnesty makes a difference: "Even if it takes one knife off the streets and out of the wrong hands I think it's done its job."
The knife amnesty came after six stabbings in the city over the past two years.
Chief Inspector Kelly Whiting said: "We are hoping people who have handed in knives no longer want to be involved in that level of violence.
"If you know someone who carries a knife, call us and we will make sure it is removed from the streets."
Five men have been questioned after shots were heard in Wimborne Road.
24-Year-Old Nikki Henderson Become The Youngest Ever Skipper Of A Clipper Round The World Yacht
18-Year-Old Found Injured In Old Christchurch Road On Friday Morning.
Recently Played Tracks
Now playing: The best feel good music
Deposit £10 to get a £40 Welcome Bonus - That's £50 to play bingo, slots and more!*
Over 50 tracks to make you feel-good. New album out now...
Find your local four day weather report here.
What's happening on the roads where you are?
Make Heart the soundtrack to your day and you could be a winner with great prizes up for grabs throughout the day.
Find out more about some of the companies advertising on Heart.
Get some great ideas on how to advertise your business on radio, online and on mobile.