BUSINESS

Ferry ticket price hike on the horizon

TAGS: Shipping, Transport

Ferry companies are preparing to raise ticket prices this year following their new obligation to use types of fuel with a lower sulfur content than previously (down from 3.5 percent to 0.5 percent).

The new International Maritime Organization (IMO) regulation, which is aimed at reducing air pollution and came into force last Wednesday, will raise operating costs by 25 percent, according to coastal shipping firms, which do not rule out an imminent increase of 7 to 10 percent in ticket prices.

On the other hand, sector professionals note that coastal shippers cannot pass on the entire cost of the new fuel to passengers, especially in the winter when traffic is reduced.

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