October 15, 2020

A comprehensive financing plan for ferry companies, with the aim of renewing the Greek ferry fleet, by the end of 2030: that is the aim of a study commissioned by the Hellenic Chamber of Shipping, and awarded to PwC.

The creation of a Special Purpose Vehicle company (SPV), with the participation of the public sector (Hellenic Development Bank, Hellenic Chamber of Shipping) is the solution put forward. It will facilitate the renewal of the 115 coastal ferries as well as the 124 smaller ships and landing ferries.

Furthermore, the study proposes the SPV Company to act as an investment platform.

The renewal of the Hellenic Coastal Shipping fleet is of great importance, not only for national reasons, but also due to the development of the idea of the “green” shipping, which creates new challenges for ferry companies and call them to invest soon in newbuildings.

It is noted that 40% of the Hellenic Coastal fleet, by the end of the decade, will be over 40 years old while none of the existing ferries will meet the requirements for reduced CO2 emissions set by the European Commission.