April 21, 2022

The Chairman of SEEN, Mr Spyridon Paschalis presented his views on the topic: “Problems and solutions for the transition in Green Coastal Shipping”, based on the latest IOBE (Foundation for Economic & Industrial Research) report, published on April 13. (Presentation, in Greek on the SEEN website)

According to Mr. Paschalis, the implementation of the “Fit for 55” package is expected to have a serious impact on ferry passenger shipping. More specifically, he predicted that:

  • Operating costs will increase by EUR 207 million in 2026
  • Ticket prices will be burdened by 30% in 2026
  • Passenger traffic will be reduced by 28% (5.4 million passengers) in 2026
  • Ferry companies’ revenues will be reduced by EUR 183 million in 2026
  • Greece’s GDP will be reduced by EUR 903 million (0.3%) in 2026
  • Almost, 29,600 jobs will be lost throughout Greece (island regions and Continental country)

He also referred to the uncertainties that come from the pressure for the direct carbonization of ferry passenger shipping such as not enough time to comply with the new regulations, the obstacles to the adoption of alternative fuels in Greece, the fact that there is no alternative fuel that works as a complete solution as well as the alternative technologies that will improve energy efficiency that are still under evaluation.
Furthermore, he proposed solutions concerning the existing fleet as well as newbuilding ferries. According to Mr Paschalis:

  1. the most affordable solution for the existing fleet is slow steaming with a negative impact on sailings and therefore on local communities
  2. Investments in equipment that will improve the Energy Efficiency of the existing fleet such as (costa bulbs, post swirl rudder fins, solar panels, LED lighting etc.) but have a significant cost
  3. Switch to alternative fuels like LNG, Methanol, hydrogen, and electricity (produced from renewable energy sources) as well as the use of biofuels
  4. Fleet renewal with newbuilding low and zero-emission vessels (ZEV)

Mr Paschalis concluded by underlying that the Hellenic Coastal Shipping will proceed with “Green” Investment projects only if there is serious support and strategy from the Greek State.