Greece to See Steep Rise in Ferry Ticket Prices in 2025

Ferry ticket prices in Greece are expected to rise sharply, with increases of up to 12 percent, beginning this May.

According to Greek coastal shipping operators, the price hike exceeds the average inflation rate and comes as a direct result of higher fuel costs and new environmental regulations for coastal vessels as part of the green transition.

“Fuel costs, which constitute 47 percent of a ferry’s operating expenses, are the primary factor driving the ticket price increase,” said Association of Passenger Shipping Businesses (SEEN) President Dionysis Theodoratos on Tuesday.

Speaking during the association’s conference “Modern Coastal Shipping Transportation, Island Sustainable Development”, Theodoratos said that the price hike is attributed to new regulations set to come into effect on May 1, 2025.

The cause of the ferry ticket price increase

On May 1, 2025, the Mediterranean Sea will officially become a Sulphur Emission Control Area (SECA). This will require ships to use fuels with a sulfur content of no more than 0.001 percent.

The new fuel is significantly more expensive than the current fuel, and coastal ferry companies are estimating a rise in ticket prices of 10 to 12 percent.

This regulation is part of broader environmental initiatives included in the European Commission’s “Fit for 55” package. The package includes measures such as the European Emissions Trading System (EU-ETS) and the FuelEU Maritime Regulation, both of which are designed to reduce emissions from the shipping industry and support the EU’s climate goals.

The transition to environmentally sustainable practices is essential for the sector’s green transformation, but it comes at a cost. Coastal shipping professionals are concerned that the gradual integration of the EU-ETS in shipping, which will be fully implemented by 2026, will continue to raise operating expenses for ferry companies.

The economic impact

Maritime Minister Christos Stylianides, SEEN President Dionysis Theodoratos, IOBE President Nikolaos Vettas (far right).

A recent study by the Foundation for Economic and Industrial Research (IOBE) highlights the financial strain that these new regulations will impose on Greece’s passenger shipping sector.

Presenting the study at SEEN’s conference, IOBE President Nikolaos Vettas said the implementation of environmental regulations could increase operating costs for coastal shipping companies by approximately 320 million euros by 2031.

During the conference, Greek Minister for Maritime Affairs and Insular Policy Christos Stylianides acknowledged that the sector will face rising costs due to these green regulations.

He highighted that the government has already held discussions on the issue and is working to prepare for the 2025 tourism season, though he did not specify a timeline for the changes.

Looking ahead: Adaptation and financial support

Maritime Minister Christos Stylianides.

Minister Stylianides also noted that the government is advocating for the return of revenues generated from Greece’s participation in the EU Emissions Trading System (EU-ETS) to support the coastal shipping sector.

“We want the ETS revenues to be allocated to the coastal shipping sector to help the industry cope with the financial burden of adapting to greener fuel requirements,” he said.

Additionally, Leonidas Dimitriadis-Eugenides, IMO Maritime Ambassador and president of the Eugenides Foundation, stressed the need for immediate action to address the transformation of vessels in time for May 2025, as the use of traditional fuels will no longer be permitted.

Organized by SEEN, the “Modern Coastal Shipping Transportation, Island Sustainable Development” conference was held under the auspices of the Greek Ministry for Maritime Affairs and Insular Policy, the Ministry of National Economy and Finance, and the Ministry for the Environment and Energy.

The conference focused on finding solutions to ensure the sustainable development of Greece’s island regions, balancing the need for green transformation with the practical realities of the industry’s economic sustainability.