The majority of coastal shipping companies raised their fares this month, for the second time in the year, in an effort to deal with rising fuel costs, which are estimated to cover 70% of a ship's operating spending.
Shipping executives told AMNA that a ship operating in the Piraeus-Chania line needs approximately 33 tons of fuel per day.
The price of VLSFO fuel, used in ships not equipped with scrubbers, reached 1,264 US dollars/ton from 480 US dollars/ton last year, which means that fuel spending jumped to 41,250 euros from 15,840 euros, respectively.
The latest fare prices increases ranged between 5-10% on average, while the previous fare hikes in April 2022 were between 10-12% on average, while a new small increase from July 1 has not been ruled out for some destinations.
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