Greece is set to invest 300 million euros in the upgrade of its coastal shipping fleet as part of a wide-reaching initiative to modernize maritime transport, improve environmental performance, enhance safety, and strengthen connectivity to its many islands.
Maritime Affairs and Insular Policy Minister Vassilis Kikilias announced this week that the investment, backed by European Investment Bank (EIB) funding, will go toward the conversion of vessels into greener, safer, and more efficient ships.
The funds, Kikilias said would enable coastal shipping operators to renew their fleet, emphasizing that the goal is to transition to low-emission vessels.
The government anticipates that the upgrade will exempt Greek operators from EU maritime pollution charges, which in turn is expected to help reduce ferry ticket prices for passengers.
Kikilias noted that a detailed project plan, including a call for expressions of interest from shipping companies, will be unveiled in the fall. He added that additional incentives are being considered for operators already taking steps to renew or modernize their fleets.
The initiative is also designed to support the country’s vital tourism sector, enabling more frequent routes, especially during the busy summer months, and improving access to Greece’s remote islands.
