The Merchandise Transport Business Federation of Mallorca says the steep rise in shipping prices will cost transport companies in the Balearic Islands around 80 million euros.
Baleària and Armas-Trasmediterránea said earlier this week that its shipping prices will go up by 15%-20% on January 1, to offset the cost of changing to sustainable fuel.
The impact of adapting to eco friendly fuels is already being felt in the Canary Islands where shipping costs have increased by as much as 30%.