The Steam Packet says that it will invest in two new vessels if a revised sea services agreement is reached this year.

The company has taken out a two-page advertisement in this week’s Isle of Man Examiner, as the day of reckoning in Tynwald approaches.

It wants a deal to last to 2041.

The current user agreement is due to expire in 2026.

Mr Woodward says: ’If a revised Strategic Sea Services Agreement, to guarantee services beyond 2026, can be reached this year, we will invest in two new vessels.

’That means in 2020/21 we would aim to deliver a purpose-built replacement for Ben-my-Chree (dates subject to finalisation of design, tendering and build options), with a replacement for Manannan planned for 2022/23.’

The Ben’s replacement would be more passenger-friendly, designed for the specific needs of the Isle of Man.

He says the Steam Packet is ’part of the Manx community’.

’Our management team lives and works here, we have local board members, we employ more than 300 Isle of Man residents and we spend significant sums in the local economy,’ he states.

’Since the start of the User Agreement there has been major private investment in vessels, much lower fares (halved in real terms) with improved offers and availability, and significant marketing to promote the Isle of Man.’

The new agreement would see more special offers and a new frequent traveller scheme.

Mr Woodward adds: ’We believe the routes we serve meet the island’s current needs and will continue them with current frequencies maintained.

’However, we also give the commitment that routes and schedules can be revisited by government to meet changing national needs and passenger demand.’

The Steam Packet’s deal also offers to share extra revenue growth to fund low fares, using a new Manx RPI-J cap on increases, guarantees of an ’Isle of Man focus’ on employees, management and directors.

It pledges an annual publication of Irish Sea fare comparisons and formal service reviews every three years.

There would be no need for any government subsidy, the company says, and it would make a commitment to use the new, Isle of Man Government-owned berth at Liverpool.