A committee looking into how the Steam Packet is regulated will report back to Tynwald next month.
The select committee chaired by Jason Moorhouse MHK has recommended either making the company a government board or tightening Treasury's control over it.
The Council of Ministers has published its responses to the three recommendations in the report.
Ministers say running the ferry firm at arm's length means it can serve the Island efficiently.
Two more schemes backed by government fund
Island to get Bikesafe scheme for first time
Jurby Junk's Stella dies aged 90
No plans to publish UK's assisted dying letters
Burst water main disrupts Onchan supply
Government advice following spike in data breaches
Plans for four-foot flood walls at Ramsey harbour
Garage blaze in the early hours of this morning