An investigation has been launched after a ferry collided with several yachts off the Isle of Wight, the second such incident in a month.

A search and rescue operation involving three lifeboats was launched but the coastguard later confirmed no one was missing.

The ferry was grounded as it attempted to berth at the entrance to Cowes harbour amid dense fog.

All 56 of those onboard the ship, operated by Red Funnel on the Southampton to East Cowes route, were accounted for and the vessel was refloated with the help of tugs.

The coastguard said the ferry would be assessed and asked people who saw the collision and grounding, and ferry passengers, to contact its investigations and enforcement unit.

The coastguard said it contacted someone who was initially heard crying for help and established he was safe and well. He was onboard his own vessel and had been calling out to try to alert the master of the ferry.

The ferry passes the mast of a submerged yacht. Photograph: Andrew Matthews/PA

The ferry company said the Red Falcon, a vehicle ferry, had come into contact with several small yachts as it came into the harbour at 8am.

The chief executive of Red Funnel, Fran Collins, said the vessel would be subject to a detailed inspection and that a revised vehicle ferry timetable would operate between Southampton and East Cowes.

“On behalf of Red Funnel, I would like to apologise to all passengers who have been disrupted by this incident, and emphasise that we give the safety of our passengers and crew the highest priority,” he added.

Cowes RNLI lifeboat, Calshot RNLI lifeboats and coastguard rescue teams from Bembridge, Needles and Ventnor were involved in the search and rescue operation.

One account from a member of the public suggested that a moored boat had been sunk as the ferry missed the harbour channel.

Images posted on Twitter appeared to show the mast of a sunken boat sticking out from the water with a Red Funnel ferry in the background.

Three boats were cut adrift when another ferry operated by Red Funnel went through moorings in thick fog at Cowes harbour on 27 September, the RNLI said last month.

The ferry involved on that occasion was the Red Eagle, which was sailing from East Cowes to Southampton.

A catamaran was hit and two yachts were later found drifting outside the harbour following the incident, which happened at around 5.30am. Red Funnel said it was withdrawing the ferry from service.

Red Funnel, which styles itself as the “original Isle of Wight ferry operator”, carries 3.4 million passengers each year.

Its fleet consists of modern purpose-built ropax vehicle ferries and Red Jet high-speed passenger catamarans, according to its website.