The increase in labor costs, the increase in prices of spare ships and marine fuels, as well as the increase in interest rates on bank loans to shipping companies, make it impossible at the moment to discuss a possible reduction of the price of ships. ferry tickets. This is what the president of the Association of Passenger Transport Companies, Dionysis Theodoratos, underlines in an interview with APE-MPE, specifying that the latest increases in coastal ferry tickets were around 15% and have took place in 2022.
It also highlights that, based on April 2024 figures, shortshore fuel prices for HSFO and VLSFO types used by conventional vessels have increased by 9%, spare parts costs by 14% and 24%. compared to 2021 crew salaries, based on April 2024 figures. the relevant collective labor agreements that have been signed to date.
It also notes that the cost of bank borrowing due to rising bank interest rates increased by 43% in 2024 compared to 2021.
The representative of the liners specifies that from 05/01/2025, on the basis of European regulations, the use of fuel with a maximum sulfur content of 0.1% is mandatory, which will lead many airlines line that do not use scrubbers on their ships to purchase fuel increased by 35%.
Mr. Theodoratos, commenting on reports that speak of the “super profits of ferry companies”, says that the net profit with total turnover is currently around 4 to 6%, while other tourism-related sectors , like car rental, are 10%. % and in hotels from 10 to 11%.
The president of the Association of Maritime Banking and Financial Executives and founder and CEO of XRTC Business Consultants, Giorgos Xiradakis, points out that despite the fact that shipping companies have shown in the past that they want to adapt to purely social criteria and reduce ferry ticket prices, it is clear that some of their costs remain high. He also highlights that for many shipping companies, a financially solid period is now necessary because to be able to enter the “green” transition will require high investments, while banks, for their part, will need clean and profitable means. . balance sheets in order to grant loans.
However, he adds that on the other hand, the state should be very careful about how it will deal with monopolistic interests while maintaining competitive pressures which, in themselves, can lead to lower tariffs. Mr. Xiradakis adds that it is the duty of the market regulator, which is the State, to safeguard the economic environment of competition, because ticket prices can fall as they increase.
“Specify” the green transition
As the President of Coastal Lines, Mr. Dionysis Theodoratos, explains, in the context of the renewal of the cabotage fleet towards the “green” transition for 2024, the average age of vessels serving the cabotage lines will now reach 30 years. .
It specifies that out of a total of 115 ships, 50 of them (43.5%) are already over 30 years old, while their average age in 2030 will be 36 years and there will be 15 ships over 50 years.
He adds that as part of the package of measures entitled “Fit for 55” for the climate approved in 2023 by the European Commission, a series of European legislations concerning maritime transport have been revised, such as the gradual expansion of the European system of Emissions Trading (ETS) in maritime transport by 2026 and the expected difficulties in complying with the new clean fuels legislation (FuelEU Maritime Initiative), which are expected to increase the operating costs of the transport sector maritime.
“Shipping companies will be obliged to purchase certificates and submit them for 40% in 2024, 70% in 2025 and 100% of their verified emissions based on the MRV regulation from 2026, while for Greece the obligation concerns ferry lines to/from Crete and the Adriatic,” he notes.
It also highlights that regular coastal lines connecting islands with fewer than 200,000 permanent residents to other ports in the same country are exempt from this obligation until 2030. “Without renewal of the fleet, inclusion in the SEDE will weigh on the operating costs of ships”, he underlines.
Prices at the same levels from 2022
According to data provided to the APE-MPE by the President of SEEN, Mr. Dionysis Theodoratos, the economy class with an individual ticket and a conventional ferry on the Piraeus Syros route in 2024, 2023 and 2022 was 45.50 euros .
- On the Piraeus-Tinos line, the individual ticket with a conventional ferry in 2022 and 2023 was 49 euros, while in 2024 it was 38.50 euros.
- On the Piraeus-Paros line, the individual ticket with conventional ferries was 50 euros in 2022, 2023 and 2024.
- Furthermore, on the Piraeus-Santorini connection, the individual ticket was 58 euros in 2022, 2023 and 2024.
- For the Piraeus-Rhodes line, the individual ticket with a conventional ferry was 91 euros for 2022-2023-2024.
- For the August routes where passenger traffic is increased in 2022, 2023 and 2024, the single cabin fare on the Piraeus-Mytilene line was 90 euros per person, on the Piraeus-Chios line 82.50 euros, on the Piraeus-Rhodes line at 139 euros. , on the Piraeus-Santorini line at 105 euros, on the Piraeus-Chania line at 124 euros on the Piraeus-Patmos line at 118.50 on the Piraeus-Heraklion line at 96 euros and on the Piraeus-Kos line at 126.50 .
- For high-speed ferries in 2023 and 2024, economy class per person on a high-speed ferry on the Naxos-Folegandros route is 76.70 euros on the Naxos-Santorini route, 59.70 euros on the Naxos route -Mykonos, from 57.70 euros in 2024. and 49.70 in 2023 on the Mykonos-Amorgos line to 98.70 euros in 2023 and 89.70 in 2024, on the Milos-Amorgos line at 105.70 and on the Milos-Santorini line at 103.70 euros in 2023 and 93.70 in 2024.
The Vivanoda online platform reports that Greece ranks 11th in Europe as the most expensive country to travel by boat (in 2023).
Taking the average price per person for a 100 km trip, Turkey takes first place, followed by the United Kingdom, Iceland, Morocco, Italy, Slovenia, Portugal, Spain, Ireland, Malta and Greece in 11th place.
The price index for coastal ferry routes in Greece increased by 3.6% compared to 2023.
Ferry connections from Turkey to the Greek islands (especially the Chios–Cesme route) are by far the most expensive, while connections to Italy are the cheapest.
Patras and Igoumenitsa from Venice or Ancona, as well as the connection between Mykonos and Lemnos are among the cheapest ferry connections in the country.
Increase in passenger ferry traffic
There was an 8.1% increase in passenger traffic in the first five months of 2024 in cabotage compared to the same period of 2023.
Specifically, 3,100,541 passengers traveled on cabotage vessels to various destinations from 01/01/2024 to 05/31/2024 compared to 2,868,768 passengers during the same period last year.
In the vehicle segment, there was an increase of 7.2% as during the first five months of 2024 a total of 430,258 vehicles were exchanged compared to 401,430 vehicles during the same period of 2023.
Also in the truck sector from 01/01/2024 to 05/31/2024 216,519 heavy goods vehicles were exchanged against 209,750 over the same period of 2023