Coastal shipping is in a constant “storm”, with competition running red and at the same time operating costs are soaring due to the introduction of new fuels.
The challenge of using very low sulfur fuel, which all cruise lines will be required to use from May 2025, when the Mediterranean will become a sea of reduced sulfur emissions (ECA) is quite demanding.
Mainly because it will significantly increase operating costs. It is estimated that the price of low-sulfur fuel will reach 900 euros per ton, compared to 600 euros per ton, which is currently the price of high-sulfur fuel (more expensive by 50%).
The new data in coastal shipping
Each company adapts to the new data, as well as to the additional undeniable need to renew its fleet in view of 2030, the year when Greek shipping it will go fully into the emissions trading system which means additional costs.
In this context, moves to buy and sell ships are underway, with the latest example being the acquisition, according to information, of Fast Ferries’ Thunder high-speed ferry from the Attica Group.
H Fast Ferries
With this move, Fast Ferries disengages from the high-speed ferry market and strengthens its finances for the completion of the acquisition of the two conventional vessels of Zante Ferries.
As ot.gr wrote, Fast Ferries agreed to buy the two passenger ferries of Zante Ferries, “Dionysios Solomos” and “Adamantios Korais”.
Zante Ferries will hold a general meeting on September 22 in Zakynthos in order for its 190 shareholders to finally decide on the sale of the two ships.
“Dionysios Solomos” is routed to the Western Cyclades from the port of Piraeus. “Adamantios Korais” travels to Samothraki and Lemnos from the port of Alexandroupolis.
OT information indicates that both ships under the new ownership of Fast Ferries will continue to serve the specific routes.
As the two ships operate on barren routes, Fast Ferries, which has three more conventional ships in its fleet, also enters this particular market, which, according to the plans of the Ministry of Shipping and EU guidelines, may also receive favorable financing, through PPP programs, in view of the “green” transition and the need to renew the ships will serve them.
The speedboats
For its part, the Attica Group, with the acquisition of Thunder and possibly the acquisition of other speedboats in the near future, strengthens its presence in the speedboat market where it already has a presence with 12 highspeed boats (two highspeed, four Flyingcat and three Flyingcat Dolphing and three aero highspeed) in a total fleet of 42 ships.
SeaJets and the others
The jet market is currently “dominated” by SeaJets, with a fleet of 24 jets, according to its website. SeaJets has been trying to buy the Thunder, but without success, as it wanted to “get rid” of its competitor in lines of Crete-Cyclades.
Golden Star Ferries also has a presence in high-speed ferries with the Superexrpess, which it acquired in 2023, while another seven high-speed ferries operate on local lines from regional companies.
Ship purchase movements are expected to continue as estimated by industry players, while transfers of entire companies are not excluded in the coming years as it is deemed necessary to create larger schemes that will be sustainable and able to be financed by the banking sector or other sources of money.
Source: ot.gr
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