An Island businessman says his company is suffering because of the cost of shipping goods with the Steam Packet.

Managing director of Manx Independent Carriers John Quaye is welcoming the conclusions of a Tynwald Select Committee investigation into the running of the ferry company, but says his costs need to be reduced.

On Talking Heads today, Mr Quaye said the Steam Packet was entitled to make a profit, he felt it was going too far.

He said:

"When the fuel surcharge came in, in September, I had to find an extra ?55,000 a month.

"Our spend with the Steam Packet is half a million pounds a month.

"Fifity-five thousand pounds a month the fuel surcharge costs my company, and I don't believe the Ben my Chree costs that much in fuel to run for the entire month."

Chief executive Mark Woodward has responded to criticism of his company's freight charges by saying the User Agreement provides a package of obligations for the Steam Packet to fulfill, many of which are loss-making.

The freight service - he says - helps provide a sufficient level of income for the company to run those loss-making services.