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.
Police issue pre-TT warning over licences and insurance
Make sure you have the right licence and insurance for your bike before turning up for TT!
Minor Injuries Unit reopens next week
Manx Care says Ramsey Cottage Hospital's Minor Injuries Unit will reopen next week.
DOI considering more restrictions for young drivers
New drivers could soon face more restrictions - but not until after the election.
Cav to start legendary Le Mans 24 hour race
Manx Cycling legend Mark Cavendish will officially start this year's 24 Hours of Le Mans.
Can you help catch fly-tippers?
Patrick Commissioners are appealing for help catching fly-tippers who struck at a beauty spot.
Pub hits out after vandals attack inclusivity signs
A Douglas pub has hit out after vandals attacked signs in its toilets about inclusion and mental health.
Play equipment closed after park vandalism
Onchan Commissioners say vandalism means play equipment in a park in Birch Hill is unavailable.
Ramsey looking for four new commissioners
There are just two weeks left for nominations if you want to stand as a commissioner in Ramsey.
