Greece: New increases in ferry - Price examples for 6 islands

The ever-increasing cost of fuel has boosted a ship's operating costs by 70%

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In a new, second increase in the price of passenger tickets for 2022, the ferry companies proceeded from 15/06 on most routes, as the ever-increasing cost of fuel has boosted the operating cost of a ship to 70%.

According to executives in the coastal shipping industry, a passenger ferry on the Piraeus-Chania line needs about 33 tons of fuel per day to operate this route.

Today's tonnage of low-sulfur VLSFO fuel, used on ships without scrubbers, reached $ 1.264 a tonne, up from $ 480 last year.

Thus, a ship on this line will only need 41.250 euros for fuel on each route, from 15.840 euros needed about a year ago.

The new increases in ticket prices range from 5% to 10% on average, while it is noted that the previous increase was made in April 2022 and reached an average of 10 to 12%.

Information states in the APE-BPE that for some destinations and itineraries it is not excluded that there will be a new small increase from July 1.

"We said that 2022 would be the first year of returning to normalcy, but then came the event of the Russo-Ukrainian war, which has skyrocketed the energy costs of ships for a few months now," said a shipping market official.

Examples for 6 destinations

On the Rafina-Mykonos line the individual ticket from 35 euros at the moment reached 38 euros an increase of 8,57% while on the Rafina-Tinos line the individual ticket from 32 euros reached an increase of 35 euros 9,38%.

Also on the Rafina-Andros line, the individual ticket from 23 euros rose to 25 euros, an increase of 8,70%

From Piraeus to Naxos the individual ticket from 45,50 euros reached 48 euros, an increase of 5,49% while for speedboats the individual ticket on the same line from 63,70 reached 67,40 euros.

On the Piraeus-Rhodes line, the individual ticket from 82,50 euros to 86,50 euros increased by 4,85%.

On the Piraeus-Patmos line from 50 euros the individual ticket was set at 52,50 euros, an increase of 4% and on the Piraeus-Paros line from 44,50 euros the individual ticket is set at 46,50 euros. On the Piraeus-Milos line, the individual ticket from 43 euros is set at 45,50 euros.

On the Piraeus-Rhodes line for four people with a car, the total cost of tickets from 466,50 euros to 489,50 euros, an increase of 4,93%.

It is noted that the shipping companies due to the high fuel prices have raised the issue of adjusting the rents on the routes of the one-year coastal shipping contracts, and for which no fuel clause is provided under the relevant law.

This is a total of 42 ferry connections, while the total estimated cost will reach about 15 million euros.

It is noted that since the beginning of April, the Ministry of Shipping has proceeded with the adjustment of the rents of the coastal shipping ships, which operate public service routes with multi-year contracts and in which, according to the relevant legislation, a fuel clause is provided. All barren lines are included in the Public Investment Program.

Source: RES - EIA