Industry figures view the new government measure worth €32 million to address the higher cost of marine fuel as a step in the right direction, but one that is not enough to offset the significant financial burdens facing the sector.
Market sources told Euro2day.gr that the support is expected to cover only a small part of the additional costs borne by companies, without addressing the problem caused by rising fuel prices.
They note that the additional burden on ferry companies is estimated to exceed €300 million in 2026, many times the amount of the new state support.
The scale of the pressure is illustrated by estimates from market figures that annual marine fuel consumption in Greek ferry shipping is about 700,000 tonnes. Fuel prices, which stood at around €500 per tonne before the war in the Middle East, have now topped €1,000, more than doubling the cost.
Market figures say this makes a fall in international oil prices particularly important, as state support cannot offset the burden of higher energy costs over the longer term.
The new support comes on top of an already legislated measure worth up to €60 million to compensate ferry companies for mandatory discounts, bringing the total budget for the two measures to up to €92 million.
However, the two measures are distinct: the €60 million is for mandatory ticket discounts, not to cover higher fuel costs, for which the €32 million is intended.
Little room to manoeuvre in 2027
The market’s greatest concern, however, is managing the coming year and whether ferry companies will be able to continue absorbing increases in operating costs without passing them on in ticket prices.
Industry sources say that over the past year companies have made a significant effort to keep fares in check, absorbing some of the additional costs.
However, there is now considerably less scope to continue this practice, and if fuel prices remain high, maintaining the current pricing policy in 2027 will become more difficult.
Market figures also point out that higher operating costs are putting further pressure on companies at a time when the sector faces significant fleet renewal needs and must adapt to environmental requirements.
Against this backdrop, developments in the international oil market take on particular importance. Industry insiders stress that a substantial fall in fuel prices, combined with an end to the armed conflict and a reduction in geopolitical uncertainty, could significantly ease the pressure on the sector.
What the new measure provides
The new measure provides financial support of €0.16 per litre of marine fuel for purchases made between 1 September and 31 December 2026.
The support covers both ferry companies operating commercial routes and those serving public service routes, known as unprofitable routes.
The Ministry of Maritime Affairs and Insular Policy and the Ministry of National Economy and Finance are working with the Independent Authority for Public Revenue (AADE) to finalise the terms of implementation. The aim is to establish a fully electronic process for submitting, checking and paying out the support, with the relevant supporting documents cross-checked.
Implementation of the measure is subject to the required approval from the European Commission under the European state aid mechanism METSAF. The measure may be extended if the fuel price crisis continues and the corresponding European framework is extended.