The provincial government has been evaluating business plans from three companies to determine whether any of the bidders are capable of running a viable service.
The assessment is being conducted with help from the Nova Scotia International Ferry Partnership.
The government rejected two bids earlier this year, saying neither met the criteria for a sustainable operation.
A department spokesman would not say whether the government has accepted one of the proposals.
The Yarmouth-to-Maine link was discontinued in December 2009 after the province cut its annual $6-million subsidy when it concluded the money-losing business wasn't viable.