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.
Info commissioner's workload revealed
The Island's information commissioner is dealing with dozens of requests to review Freedom of Information requests, it's been revealed.
Fog may mean problems at airport today
Ronaldsway Airport is warning passengers Manannan's Cloak may be causing some problems today.
Don't abuse our staff, warns amenity site
A waste site in the west of the Island is warning people not to abuse its staff, saying it won't be tolerated.
Thie Clag cost "within £11 million budget"
The costs of redeveloping the former nurse's home in Douglas should be in line with its budget, according to Treasury Minister Alex Allinson.
MHK has questions about Castletown streets scheme
A Department of Infrastructure scheme to improve Castletown will be under the spotlight in the House of Keys this week.
Roof damage sparks planning application
A business in the west of the Island has applied for planning permission as it repairs damage from recent storms.
Emergency services respond after Vicarage Road crash
Firefighters helped cut someone free from their car after a crash yesterday.
Questions over future of Tramway Terrace
An historic building on Douglas promenade will come under the spotlight in the House of Keys next week.
