Plans include purchase of two new vessels
Two new boats and improved port facilities could be on the horizon as part of a proposed £170-million package of investment by the Steam Packet.
The offer comes as the firm outlined proposals to continue its service beyond 2026 when the current User Agreement expires.
Details were presented to Manx parliament earlier this week - and Packet bosses hope the offer can be debated in July Tynwald.
The agreement would mean reduced passenger fares, more special offers and upgraded port facilities.
If a deal is reached this year, the Steam Packet says it will replace the Ben-my-Chree by 2021 as well as replacing the Manannan with a brand new vessel by 2023.
Passenger capacity would also increase year-on-year to acommodate a growing population and there are plans to reward those who use the service on a regular basis.