Greece is preparing a support program worth nearly €60 million ($69 million) for the country’s ferry industry as rising marine fuel costs increase operating expenses and raise concerns about higher ticket prices.
The government aims to help ferry companies absorb part of the additional cost without passing it on to passengers. Although marine gas oil, or MGO, has risen sharply in price, ferry operators have not introduced another round of ticket increases.
The Ministry of Maritime Affairs and Insular Policy continues to monitor international fuel markets. Officials have also developed alternative measures that they could activate if fuel prices remain high and begin to affect passenger fares.
Greece seeks to keep ferry prices stable
The central element of the plan is a new compensation mechanism for social discounts that Greek law requires ferry companies to provide. The program will cover only mandatory fare reductions. Commercial discounts that individual ferry operators offer voluntarily will not qualify for reimbursement.
Officials expect the system to provide the sector with close to €60 million ($69 million) in additional liquidity. Greece’s 2026 Annual Progress Report estimates the measure’s annual fiscal cost at €56 million ($64 million).
Eligible passengers include children up to age 5, low-income individuals, large families, students, people with disabilities, war pension beneficiaries and qualifying companions.
Until now, ferry operators have covered the full cost of these legally required discounts. Under the new system, the state will reimburse part of the revenue that companies lose through reduced or free tickets.
Payments based on verified tickets
The government will not provide each company with a fixed subsidy. Instead, officials will calculate payments according to the number and value of qualifying discounted tickets that each operator issues. The reimbursement process will take place in stages. Companies may request an advance payment, while authorities will issue the final settlement after verifying the relevant passenger and ticketing records.
Officials presented the implementation framework to Greece’s Coastal Shipping Council in late July. Industry representatives then reviewed the proposal and suggested technical changes ahead of the first payments. The ministries of National Economy and Finance and Maritime Affairs and Insular Policy will establish the final rules through a Joint Ministerial Decision. Officials have already drafted the decision, which now awaits the ministers’ signatures.
Fuel costs pressure ferry operators
Fuel accounts for a significant share of ferry operating expenses, making companies particularly vulnerable to international price fluctuations. The compensation mechanism aims to help operators manage higher energy costs while reducing the risk that they will transfer the full increase to passengers.
Some ferry companies have limited their exposure through fuel-hedging agreements, which allow them to secure part of their supplies at predetermined prices. Strong passenger demand during the summer tourism season has also helped operators offset some of their higher costs through increased revenue.
However, continued volatility in fuel markets remains a concern for both the government and the industry. The government may consider additional support measures if the current policies fail to prevent ticket increases.
Greece sets two-cycle plan as ferry prices face pressure
The government is gradually introducing the reimbursement mechanism, with 2026 serving as its pilot year. Officials are implementing the program in two payment cycles. The first covers mandatory discounted tickets issued from March through May, while the second covers qualifying tickets issued from June through October.
Authorities aim to make the first disbursement in August, providing ferry operators with additional liquidity during the peak tourism season, when fuel consumption and financing needs remain particularly high. Companies requesting an advance must submit an application, a sworn declaration, tax and social security clearance certificates, and any additional documents required under the Joint Ministerial Decision.
The advance may cover up to 30% of the estimated compensation. The ministry will pay the remaining 70% after completing the verification process and determining the final amount. Operators may also decline the advance and submit all required documentation by Nov. 15 for a single review and payment.
Electronic system to verify journeys
Beginning in 2027, the program will cover the entire calendar year while continuing to operate through two payment phases. The verification process will rely on Greece’s Electronic Passenger Reservation and Ticket Issuance System, which records tickets issued by ferry operators.
The Ministry of Maritime Affairs and Insular Policy will use the system to identify tickets carrying mandatory social discounts, confirm each beneficiary category and calculate the revenue forgone by every company.
Officials will compare government records with ferry operators’ electronic ticketing systems. They will authorize reimbursements only for verified tickets linked to completed journeys.
Ferry companies will continue to check passengers’ eligibility documents at boarding. Travelers claiming a mandatory discount may need to present a disability card, student identification or another official certificate.
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