Steamship Authority Floats Rate Hikes To Offset Rising Fuel Costs
Jason Graziadei •
The Steamship Authority is considering across-the-board rate hikes on both its Nantucket and Martha’s Vineyard routes to help offset increased fuel costs, as well as other expenses related to vessel dry-dock for its aging fleet, and terminal maintenance.
The proposed rate hikes were unveiled Tuesday morning during the Steamship Authority’s Port Council meeting.
For Nantucket, the rate hikes would include the following:
- Standard vehicles under 20 ft: $9 to $12 one-way, $15 peak Fri-Sun
- Excusion rates: $3 one-way
- Vehicles over 20ft. 8 percent
- Barge fees: $1 per ton
- Passenger fares: $1 on car ferries, $3 on high speed
- Parking: $50 and $1 per day
The Steamship is attempting to raise an additional $7.6 million through the rate increases to help offset fuel costs which have increased by $5.6 million, or 69 percent. The goal would be to raise revenues by $4.2 million on the Vineyard route, and $3.4 million on the Nantucket route.
The rate hikes will go to the full Steamship Authority Board of Governors for further consideration later this month, and general manager Bob Davis described the proposal as “still fluid.”
