The Seastreak ferry company has pulled the plug on its Vineyard winter commuter service, saying it didn’t have enough passengers to cover the costs.

The boat line started the off-season ferry service between New Bedford and the Vineyard last fall with the hopes of making it easier for Island businesses to tap into the mainland workforce. About 40 people rode the service daily, but that was about 25 people short of the break-even point, according to the company.

Seastreak decided to halt the service this winter to avoid further financial hits, James D. Barker, the vice president of sale and market at Seastreak, said Wednesday.

“We are going to suspend daily commuter service for now,” he said. “Our team doesn’t want to take any additional losses this winter.”

Mr. Barker pointed to delays in the long-awaited South Coast Rail project, which would connect Boston and New Bedford by train, as the major factor in the lack of passengers and part of the decision to halt the new service.

“That was supposed to help us push over [the hump,]” he said.

Seastreak officials went to Oak Bluffs last month to get approval to dock in Oak Bluffs for the ferry trips, with plans to run twice a day during the week. The first boat was scheduled to arrive in Oak Bluffs at 7 a.m.

The boat line still plans run occasional weekend service in the winter, for events such as Christmas in Edgartown, and run the early morning ferry in the spring and summer.

Despite the setback, Mr. Barker said the company hoped to bring the off-season commuter service back next year.

“Our plan is to try it again in the fall,” he said.