THE Isle of Man Steam Packet company could be sold only two years after a £142m management buyout.

The company has provided a ferry service linking Liverpool with Douglas in the Isle of Man since 1830 and has this year been celebrating its 175th anniversary.

Now the owners of the ferry company, which is the oldest passenger shipping company in the world, are reported to have received several approaches from interested buyers.

In 2003 Montagu Private Equity bought the business, which runs car and passenger ferry services, from parent company Sea Containers.

The ferry company uses numerous vessels including conventional ferries and fast SeaCat and SuperSeaCat services.

Among the possible buyers for the Isle of Man Steam Packet is the Australian bank Macquarie which bought the Isle of Wight's ferry operation earlier this year.

According to reports yesterday the ferry company has received "several approaches" and this could lead to an auction between interested parties with a price tag estimated at £200m.

The ferry services include passenger and freight routes between Douglas and Heysham Port with fast ferry sailings between Douglas, Liverpool, Belfast and Dublin.

At the time of its buyout in 2003 Simon Pooler, from Montagu Private Equity, said: "Steam Packet has an exceptional management team and good growth prospects as the economy of the Isle of Man develops."

In October 2003 the Steam Packet company announced it was extending its ferry services between Liverpool and the Isle of Man, introducing a new daily ferry service.

Earlier this year the company unveiled a new £750,000 reservations system which allowed customers better access to book crossings via the company's website.

As part of the company's celebrations of its anniversary a set of commemorative postage stamps were issued by Isle of Man Post, a set of which were presented to Liverpool Lord Mayor, Cllr Frank Roderick, to mark the company's 175 years with the city.

The eight stamps featured company vessels including the first ship of the fleet, Mona's Isle, and the latest vessel Ben My Chree, built for the Company in 1998.

No one from the company was available for comment on its possible sale last night.