Greek passenger shipping companies will need to spend €2.5-€3 billion to renew their aging fleet, a sector report by XRTC Business Consultants says.
With this sum, the firms could replace all their ships over 25 years old.
The recent acquisition by Attica Group subsidiary Hellenic Seaways of three 150-passenger catamarans to replace its Soviet-made Flying Dolphins was the first significant investment in new vessels in nearly 10 years. Such a dearth of investment had not occurred for decades, XRTC notes, adding that some companies have invested significant sums to install exhaust gas cleaning systems, also known as scrubbers, to remove harmful components, such as sulfur oxides.
The report also mentions that the Shipping Chamber is seeking about €4.5 billion in EU funds to help finance environmentally friendly investments.