February 25, 2021
In a recent interview published in the Reporter.gr, the Chairman of the Hellenic Passenger Shipping Business Association, Mr. Michalis Sakellis, pointed out the following:
- The year 2021 is expected to be worse than 2020 for the Hellenic Coastal Shipping, threatening the liquidity of the ferry companies as well as ferry services in Greece.
- According to the Ferry Operator’s estimates, the first semester of 2021 was lost. They hope that the summer will be saved (July – August), but this will depend on the course of the pandemic.
- The financial support provided by the state is not enough to cover the additional cost of fuel (65%-70% increase) and the near future is uncertain.
- The renewal of the Greek Coastal fleet is also a major issue. Currently, the average age of the coastal fleet is 28,1 years and the fleet renewal project is estimated at EUR 4 billion for the next 15 years.
- The current situation threatens the sector financially. The year 2020 ended with losses of EUR 130 million, while in 2021 losses are expected to be even greater.
- It is possible that Ferry companies may be forced to sell their best ferries in order to survive. Development, with adverse effects on coastal shipping services.