The amount of money required for a basic renewal of the aging coastal shipping fleet is estimated at four billion euros, as highlighted in a panel of the 8th Posidonia Sea Tourism Forum, which was attended by executives of large companies and representatives of the Ministry of Maritime Affairs and Insular Policy.
Specifically, as shipping is faced with increasing pressures for decarbonization, coastal shipping is being pressured to remain on a transition route.
In this context, the Secretary General of the Ministry, Manolis Koutoulakis, stressed that the ministry’s goal is to find appropriate financial tools for everyone and that this requires constant consultation with companies, as well as interventions with the EU.
Uncertain technologies
Attica Group CEO Panos Dikaios referred to the issues that arise, noting that companies are investing in uncertain technologies amid uncertainty over the fuel of the future. “Coordination between the state, companies and ports is required.”
Against the backdrop of the European Fit for 55 package and the FuelEU Maritime initiative setting ambitious targets for reducing emissions, the rules – according to him – are constantly changing. “However, our company has already made investments and we are moving forward in this ‘wind of change’, even though the EU has until recently had a negative attitude towards shipping,” he emphasized. He also cited as an example the refueling of the company’s ship with biofuels, which are three times more expensive than conventional fuels.
“Green” ships
On his part, the CEO of Minoan Lines, Loukas Sigalas, spoke about the company’s investments with two new ships that are expected to be delivered in 2028 and will be launched on the Piraeus-Milos-Crete route. As he said, these two environmentally friendly ships are an indication of the company’s pre-investment in green technology.
Electrification
At the same time, Sigalas spoke about the need for investments in ports, but also in ships, so that they can be electrified when docked, while agreeing that there is uncertainty regarding the fuel of the future and pointed out that in 2050 the ships currently being built will have to be replaced, but we do not know what it will be.
The panel also included the general manager of Golden Star Ferries, Chrysanthi Stefanou, who in her statement emphasized that “we do not believe in the green transition”, adding that “we cannot do it alone, without the help of the state.”
Financial tools
“We need financial tools that complement self-financing,” Koutoulakis underlined, pointing out that the islanders will not pay, nor will they be left without ships.
