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Greece’s ferries raise ticket and car prices to cope with energy crisis

Some ferry lines in Greece have already increased their ticket prices for passengers and vehicles transport due to the soaring energy prices. The raise ranging approximately 10% to 12% is in order to meet the growing operating cost due to the increase in international oil prices due to the war in Ukraine, media report on Tuesday.

Next to the ticket prices, the companies have decided also other measures in order to cope with the energy crisis.

While the first group of ferry lines increased their prices on March 18, the remaining are expected to join the action as of April 1, 2022.

It is noted, however, that the shipping companies in order to cope with the ever-increasing cost of shipping fuel have already proceeded to reduce the speed of the ships, to merge itineraries but also to decrease the frequency of itineraries.

In addition, some companies have already abolished itineraries they consider to not have much passenger traffic at this time of the year.

Indicative some of the individual ticket prices for Economy Class as raised since March 18:

– Piraeus-Paros, from 38.50 euros to 42.50 euros

– Piraeus-Mykonos, from 40 euros to 44 euros

– Piraeus-Syros, from 35 euros to 38.50 euros

– Piraeus-Patmos, from 43 euros to 47.50 euros.

Similar increases of about 10% have been made in vehicles.

Indicative price increases for passengers tickets and vehicles expected as of April 1:

– Rafina-Andros, from 20.50 individual passenger to 23 euros and for car from 45 euros to 48 euros.

– Rafina-Tinos from 29 euros to 32 euros and for car from 60 euros to 63 euros.

– Rafina-Mykonos from 31 euros to 35 and for the car from 67 euros to 70 euros.

Citing executives from shipping companies, cnngreece writes that for a conventional shipping ship, the cost for Fuel Oil (FO) rose from $ 600 per ton in December 2021, it reached approximately 1,050 euros per ton yesterday, 21/3/2022.

  • Brent North Sea crude for May delivery closed at $ 115.62 a barrel (+ 7.12% on Friday), the highest level in ten days. US crude for April delivery also rose 7.08% to close at $ 112.12 a barrel.
  • Marine diesel fuel MGO (for speedboats) which is a fuel different from that consumed by conventional ships reached on 21/3/2002 $ 1,250 per tonne from $ 680 which was in December 2021.

The executives pointed out that a ship that runs on the line from Piraeus to Crete with Fuel Oil (FO), currently needs about 40 tons of fuel the route costs about 40,000 euros, while a ship on the line Piraeus-Santorini needs about 70 tons of fuel for a route at a cost of 80,000 euros.

In a recent meeting with Minister for Shipping and Island Policy Giannis Plakiotakis, the Shipping Companies Association (SEEN) proposed a specific package of measures to help the sector, with the minister to have promised to discuss the issue with the relevant ministries.

Among the SEEN-proposals are the immediate increase of the companies ‘liquidity from what the state owes to the shipping companies from subsidized lines that have already carried out the routes, subsidization of employers’ contributions as was done during the covid-19 pandemic, imposition of a cap on Marine fuel prices at the average price of last December, reduction of Value Added Tax on ferry tickets from 12% to 6% and increase by 30% on one-year rents for remote routes

Such routes are included in the Public Investment Program.

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