The Chief Minister says buying the Steam Packet Company is a "once in a generation opportunity".
Subject to approval by Tynwald, the government will buy the company in a deal worth £124 million.
Mr Quayle says the buyout will mean Isle of Man can guarantee a safe and reliable ferry service.
The suggestion will be put before Tynwald on Tuesday, May 15 for members to discuss.
Visa fraudster convicted in Isle of Man immigration scam
The Department of Home Affairs has welcomed the conviction of 25-year-old Sagar Joon.
Crowds gather for Maccies re-opening after £1.6m upgrade
Crowds have been flocking to the grand re-opening of McDonald's this morning.
MHK questions wages of 1,500 extra workers
How many of the 1,500 extra people in work since 2021 are on less than £25,000 per year?
Manxman sailings cancelled today
This afternoon’s Manxman sailings have been cancelled due to the incoming bad weather.
New parent employment rights to start this Saturday
The Department of Enterprise says from November 1, parents will get stronger support with new shared parental and bereavement leave rights.
70% of cars fail police winter roadside checks
Police carried out their first roadside checkpoint last night, as part of 'Operation Uplift'.
Festival of Remembrance at the Villa next month
A special concert will be held to mark the 80th anniversary of WWII next month.
Planning fireworks? Let the airport know
The Isle of Man Airport's asking people to let the Civil Aviation Administration know about their firework displays.
