The port's harbourmaster, Captain Brian Sheridan says Galway docks would be an ideal location for the Naomh Éanna as a tourist attraction.
Gaeltacht Minister Jimmy Deenihan has put a stay on scrapping the Naomh Eanna until the end of March.
The vessel has been housed at Dublin's Grand Canal, but a proposal was put forward to scrap it, which is being opposed by the Inland Waterways Association of Ireland and other maritime groups.
Among the campaigning groups are the Naomh Éanna Trust's SOS Save Our Ship which in co-operation with Sam Field-Corbett of the Irish Ship & Barge Fabrication Co, are hoping for funding from private investors, so to save the vessel from scrapping by Waterways Ireland.
Due to the reprieve date of less than four-weeks to go this month, Stephen Payne of the Naomh Eanna Trust also speaking to Galway Bay FM, has said that the IS&BF would not be able to secure a berth for her in the Dublin Port for at least the next two years.
It is proposed instead to sail the vessel under own steam to Galway Port, this would involve spending €180,000 to bring her to a seaworthy state. Mr. Payne added the engines were in working order.
To completely carry out a full restoration to her former glory would be in the region of €1.8m to €2m.
Afloat.ie adds that the trust's SOS Save Our Ship campaign's online petition to save the heritage ship at time of posting stands at more than 300 signatures.