More than 17.2 million passengers and 3.3 million vehicles traveled on domestic ferry routes in 2023, marking a strong recovery after the pandemic and confirming the strategic importance of the sector for the Greek economy and island connectivity.
However, behind the impressive figures, the Interim Report on the Sectoral Study of Coastal Shipping, published today by the Hellenic Competition Commission, reveals a market that is aging, under pressure from inequalities, rising costs, and institutional gaps, but also one that holds strong growth potential, provided that investments and reforms are made.
The study focuses on domestic sea transport (passenger, vehicle, and freight lines).
Seasonal demand, tourist-driven
Demand remains highly seasonal, peaking in the summer months, with a smaller but stable core of winter movements by island residents and freight transport. It is shaped mainly by tourism, geography, seasonality, and the needs of islanders and commerce.
Fleet size and market dominance
Ferry services are provided by around 299 vessels (247 conventional, 52 high-speed) operated by 216 companies. The dominant players are Attica Group and Seajets, which together hold around 60% of passenger capacity. The fleet is relatively old (average age 25 years), and green technology adoption is still limited.
Economic contribution
The total contribution of the coastal shipping sector to Greece’s GDP in 2023 is estimated at 5.5% (€11.8 billion), and in terms of employment, about 320,000 people were employed in the sector (6.9% of the national total).
Passenger traffic in 2023
Passenger traffic (embarkations and disembarkations) at all Greek ports reached around 72 million passengers in 2023, an increase of 6.3% compared to 2022. Greece ranked second in the EU in port passenger traffic, after Italy.
Key ferry ports in Greece
Piraeus Port ranked third in the EU, behind Messina and Reggio di Calabria in Italy.
Paloukia-Salamina ranked 10th among EU ports.
Over the four-year period (2020–2023), the average growth in Greek port traffic was 26.4%.
In 2023:
Piraeus handled 8.9 million passengers (12.3% of all domestic ferry traffic).
Perama–Paloukia Salamina ranked second with 6.7 million passengers (9.3%).
Thassos and Paros followed with around 3% each.
Igoumenitsa and Keramoti at 2.8%.
Corfu at 2.6%, Aegina and Rafina at 2.5% each.
Piraeus alone accounts for 25% of ferry traffic in relevant ports — a clear indication of its central role in servicing the Aegean. Paros follows with 6%, then Aegina, Rafina, and Santorini at 5%, and Mykonos and Heraklion at 4%.
Eastern Cyclades dominate ship deployment
The Eastern Cyclades, being the country’s top tourist destination, attract more vessels than any other region. This is followed by:
Argosaronic Gulf (high passenger traffic)
Western Cyclades
Crete
In detail:
Eastern Cyclades: 5 groups/companies/consortia operate 37 vessels, with total capacity exceeding 40,000 passengers — the largest in any region, driven by intense summer tourism.
Argosaronic: 8 companies with 21 vessels, total capacity 11,169 passengers. Though served by smaller vessels, it offers frequent routes due to proximity to Piraeus.
Western Cyclades: 7 companies, 16 vessels, total capacity 12,500 passengers.
Crete: 4 companies, 12 ships, capacity 17,698 passengers, mainly on overnight routes due to long distances.
Northern Sporades: 5 companies, 7 ships, 3,462 passenger capacity, focused on seasonal tourism.
Zakynthos–Kefalonia: 2 companies, 6 ships, high average capacity per vessel (1,045 passengers), indicating concentrated demand.
North Aegean and Dodecanese: few ships (4 and 3 respectively) but very high average capacity (8,109 and 5,744 passengers), reflecting infrequent long-distance routes with high passenger loads.
Dramatic ticket price changes
According to ferry fare bulletins:
September 2024: price increases up to 29.5%, decreases up to 47.04% compared to September 2023.
February 2025: increases up to 65.53%, decreases up to 36.89%.
March 2025: increases up to 28.39%, decreases up to 40.25%.
May 2025 (Week 20): increases up to 11.11%, decreases up to 15.12%.
Financial strain and unbalanced pricing system
Ferry transport straddles the line between public service utility and market logic demanding viability. However, current pricing policies often do not account for permanent residents’ needs or income levels, favoring the occasional visitor.
The “Transport Equivalent” program helps by subsidizing islanders and businesses to bring sea transport costs closer to those on land — but it’s insufficient to fully address existing inequalities.
Institutional and regulatory issues
The report notes that the current regulatory framework for route planning allows room for informal coordination between companies — especially when the Ministry of Shipping requests “alignment” of schedules.
The Competition Commission has already issued decisions (759/2021, 793/2022) imposing penalties for price fixing and route sharing. A shift to a more dynamic and adaptive regulatory model is proposed — one that treats regulation as a “live game” ensuring transparency and healthy competition.
Port infrastructure gaps
Chronic infrastructure shortages at island ports reduce the efficiency of the network. The report calls for major upgrades (berths, depths, passenger facilities) and the adoption of “time slot” systems, similar to airports, to reduce congestion and optimize infrastructure use.
It also recommends strengthening Port Authorities and creating larger, more capable administrative bodies to strategically plan port development.
Expensive “non-profitable” routes
The cost of Public Service Obligation (PSO) contracts — covering low-demand routes — has skyrocketed: from €10 million in 2001 to €150 million in 2025, a 1,400% increase. Subsidized routes have now reached 75, revealing both the market’s inability to cover island needs and ambiguity in subsidy criteria.
The report urges:
- A review of the subsidy framework
- Clear identification of truly non-viable routes
- Stricter tender processes to avoid overlaps and waste
- Green transition is essential
The green transition is seen as a one-way road. Renewing or upgrading the fleet for energy efficiency will require major investment but also opens up new competition opportunities.
The report also proposes a single regulatory and supervisory body to coordinate ferries, air travel, and seaplanes into an integrated multimodal island transport network, ensuring reliability, cost-efficiency, and social cohesion.
