Decision by end of March for subsidized ferry route linking Greece to Cyprus

The relevant tender foresees 22 routes without an in-between stopover, and commencing in April or May while concluding in September or October of each year.

A decision by a Cypriot committee evaluating bids for a subsidized ferry boat route linking Greece’s port of Piraeus to either Larnaca or Limassol, on the eastern Mediterranean island, is expected by the end of the month.

The relevant tender foresees 22 routes without an in-between stopover, and commencing in April or May while concluding in September or October of each year.

As per the tender, the lowest fare that a coastal shipper cannot exceed is 50 euros per passenger (airplane-style seating) or 80 euros round trip; 150 euros per regular-sized passenger vehicle, round trip.

The last time a Greece-Cyprus was active was 21 years ago.

Three candidates are in the running, having submitted bids by a Jan. 28, 2022 deadline: Scandro Holding Ltd. (bid of 15.594 million euros); N.Y. Business Ties Ltd.  (14.1 million euros); and Kiara Naftiki Etairia (SeaJets Group), with a bid of 16.5 million euros.

The route will be subsidized to the tune of 5.5 million euros per annum for three years, or 16.5 million euros in total.

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