Ferry ticket prices in Greece are expected to see increases of up to 12%, according to ferry operators, starting next May and this due to the high cost of the new low-sulfur fuel that the industry will be using.
The conference of the Association of Passenger Shipping Companies (SEEN) which took place on Tuesday Jan.14 addressed the issue of the cost of ferry services due to the transitioning to new fuels. It also discussed the introduction of the new environmental regulations, as well as the “green” inflation to which the ferry sector is called upon to adapt.
Regarding the increase of the ferry ticket prices SEEN President Dionysis Theodoratos specifically noted “Ferry ticket prices are influenced by fuel costs, as they account for 47% of a ship’s operating expenses.” He further added that this difference in prices between the existing fuels and the new fuel is expected to result in a 10 to 12% ticket price increase as of May 1, 2025.
Greece’s Minister of Maritime Affairs and Insular Policy, Christos Stylianides, who participated in the conference discussion, acknowledged that the ferry sector is facing increased operating costs due to the green transition.
He noted that the government has the will to address the issue before the upcoming summer season without however providing details of the steps being taken.
However, referring to the broader cost of adapting the ferry sector to environmental regulations and the need to fund fleet renewal, he also expressed his support for returning the revenues generated from the sector’s participation in the European Emissions Trading System (EU ETS) to the industry. “We want the revenues from the ETS to return to the ferry sector,” Stylianides emphasized.
The urgency of the matter was stressed by Leonidas Dimitriadis-Eugenides, IMO Maritime Ambassador who emphasized the need for immediate measures to address urgent issues, such as the transition of conventional ships to oil-based fuels starting in May of 2025, which will lead to a significant increase in ticket prices. Combined with inflation, the consequences are expected to be serious for the sector, the IMO ambassador warned.
