BUSINESS

Subsidies for ferries to remote islands rise 45 percent

TAGS: Shipping, Finance

The Shipping Ministry is granting Greek coastal shipping a new lease of life with its decision to include subsidized ferry services to remote islands in the Public Investments Program, increasing the funds for this domain from 90 million to 130 million euros, as Minister Yiannis Plakiotakis announced on Wednesday.

This amount is the highest in Greek coastal shipping’s recent history and was deemed necessary for the country to tackle the expected hikes in oil prices due to the low-sulfur regulations that will come into force from January and the crisis in the Middle East.

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