Last year many companies managed to limit their losses by transporting Libyan citizens fleeing from the civil war raging in their country. The prospect of failure thus seems to hang more and more over the heads of these companies. The fault does not only lie in the Greek economic crisis though but also in the snail paced state bureaucracy. The Greek government in fact owes the ship companies 12 million euros dating back to transport services in 2011.
In the meantime the maritime sailing industry is finding itself with a series of mounting problems. The ferry services, due to a decreased expenditure by the population in the grip of the crisis is registering losses in ticket sales. If we compare 2011 to the previous year, business went down between 5% to 30% depending on the routes. Fuel prices have also risen in the first quarter of 2012. Oil has gone up to 640 euros per tonne compared to last year's 500. Just this increase could mean that some ship owning companies or firms with fast boats sporting new technology would see a sharp rise in costs of even 30 million Euros per year.
Lastly, the banks, who have reduced their financing to maritime companies, down from 1.76 billion Euros in 2004 to 1.02 billion in 2010. (ANSAmed).