The unanimous decision came as dozens of residents voiced their frustrations over the cancellations during a meeting Tuesday.
In a report released last week, the authority says it has experienced cancellations that are 15 times the yearly average. In one prominent incident, a ferry lost power off the coast of Martha's Vineyard on March 17, stranding 72 passengers for five hours.
Authority General Manager Robert Davis apologized at the meeting, saying "it's embarrassing that we're in this position."
The board is expected to issue a recommendation on proposals for the review at their next meeting in June.
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