Mr Ogle said: "Plans have been in hand for some time to bring her back to Merseyside as a flagship attraction, but now talks are taking place to turn her into scrap.
"We are seeking someone to come up with a rescue package to save part of our maritime heritage. We have made a bid for money from the Lottery Fund.
"But this takes months and we are being told that the ship could be refloated by the beginning of June.
"The only way to save her is to have her re-berthed elsewhere temporarily which would cost something in the region of £50,000 to £100,000.
"We need a quick fix to do this. The yard has been good enough to keep the ship for a number of years, but they are a commercial business and they need to make money out of their dry dock."
In the long run, the Manxman Steamship Company aim to restore the vessel, at a cost of £4m, and site it in Birkenhead as a world-class visitor attraction and venue for weddings.
It is hoped that they will receive a £2.7m Heritage Lottery Fund which would then be matched by other sources including Objective 1.
Manxman is described as a time capsule, with much of its original interior and fittings intact.
It has been recognised by the National Maritime Museum with the classification of Designated Vessel, which is the marine equivalent of Grade ll listed building status, though without protection under law.
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