The takeover comes after Isle of Wight East MP Joe Robertson introduced the Ferry Services (Integration and Regulation) Bill in the House of Commons in November.
It would bring boat routes throughout the country more in line with railways and buses.
He said that travellers are “tired” of paying “rip-off prices” for ferry travel to and from the island.
The private member’s bill is unlikely to become law without government support but the Department for Transport said it recognised the “vital importance” of ferry services in connecting island communities.