Greek ferry operators warn ticket price hikes may be unavoidable this summer

Greek ferry operators are warning that ticket prices could rise ahead of the busy summer season as soaring fuel costs, higher operating expenses and ongoing geopolitical instability place mounting pressure on the country’s coastal shipping industry.

The concerns come as the conflict in the Middle East continues to disrupt global energy markets, driving up the price of marine fuel and increasing operating costs for ferry companies servicing Greece’s islands.

Speaking to ERTnews, Dionysis Theodoratos, president of the Hellenic Passenger Shipping Companies Association (SEEN), said companies have so far managed to keep ticket prices stable, but warned that maintaining current fares will become increasingly difficult without additional government or European Union support.

“If this situation continues and no support measures are introduced, it will be extremely difficult for ships to continue operating without changes to fares or other forms of intervention,” Theodoratos said.

According to industry figures, fuel costs on key island routes have surged dramatically compared to pre-war levels. On the Piraeus–Syros–Tinos–Mykonos return route, fuel expenses have climbed from around €15,000 to €37,500 per trip.

Meanwhile, fuel costs on the Piraeus–Paros–Naxos–Santorini route have nearly doubled from €43,000 to €85,000, while services connecting Piraeus with Kos and Rhodes now face fuel bills reaching €155,000 per return journey.

Theodoratos said ferry companies are also grappling with rising crew wages, maintenance costs, repairs and port fees, stressing that many operators are currently running at a loss, particularly during periods of lower passenger demand.

He also acknowledged growing frustration among travellers over the high cost of island transport, especially for families planning summer holidays. However, he argued that ferry ticket prices reflect the broader operational realities of the sector and noted that profit margins in Greek coastal shipping remain relatively low, typically ranging between 3.5% and 5% even during strong tourism years.

At the same time, fuel retailers in Greece are reporting further increases in petrol and diesel prices. Michalis Kiouis, president of the Federation of Greek Fuel Traders, said international oil prices continue to push domestic fuel prices higher.

Average unleaded petrol prices in Greece are currently around €2.11 per litre, while diesel sits at approximately €1.81 per litre, with additional increases expected in coming days.

Industry leaders warn that unless energy prices stabilise or additional subsidies are introduced, ferry fare increases could become unavoidable, potentially impacting both domestic travellers and Greece’s tourism sector during the peak summer season.

WT

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