Courtesy of Steamship Authority
WOODS HOLE – Steamship Authority ferry trips are not expected to cost any more next year.
The 2018 operating budget for the authority was presented to the board of governors last month for approval and Steamship Authority General Manager Bob Davis saID the $97.6 million budget does not include price increases for Nantucket or Martha’s Vineyard routes.
“The estimates we have for our expenses going forward and our revenues going forward are such that there should be a sufficient balance in our account to get through the year,” Davis said.
The Steamship Authority is projecting revenues to be over $105 million, which would be a 2.6 percent increase from this year.
Gas expenses make up about 10 percent of the authority’s expenses and Davis said stable fuel costs for next year helped to keep fares from increasing.
“We do have our hedge in place already on our fuel costs,” Davis said. “So we able to identify what our maximum exposure would be for fuel.”
Other expenses include vessel maintenance.
“When we went back through all those we were able to, despite having additional service at certain times of the year, we were able to have a balanced budget,” Davis said.
According to officials, ferries on the Nantucket Route will operate on pretty much the same schedule as in 2017.
Current fares are $36.50 for a one-way ticket on high-speed ferries and $18 for slower vessels. Passengers also pay between $280 and $450 for round-trip voyages with cars shorter than 20 feet. Discounted excursion rates for island residents are between $165 and $275 for round-trip tickets. The range of prices is based on the size of vehicles and time of year for trips.
Fare increases were last implemented in 2015.
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