Ferryspeed has 'no choice' but to increase prices

Ferryspeed is increasing its freight prices by 4% in February to cover rising costs in Jersey and Guernsey

A freight company has said it had "no choice" but to raise its prices to cover rising costs in the Channel Islands.

Ferryspeed is set to put its freight prices up by 4% from next month.

It follows Condor Ferries raising its freight charges to 10% above inflation due to "significantly above inflation rises" in fees and the cost of living.

Martyn Langlois, from Ferryspeed, said traders across the islands may have to pass rises on to their customers.

"I think we will always try our best to ensure that prices are kept as low as possible but it is inevitable that, in fact, if we ourselves receive additional costs, you can't be forever absorbing.

"It has to be passed on," he said.

Mr Langlois said the company had tried its best "to get the prices down from Condor but unfortunately that didn't happen".

Condor Ferries said the rise was above inflation because it had absorbed cost increases from suppliers over the past three years, with CEO John Napton saying its financial situation had been "impacted during the pandemic period".

'Scare for consumer'

Alex Argo, from Ideal Furnishings, said the increases were tough for businesses.

"They can't go up too much more because we've got to be in business and try and sell our product to keep people's livelihoods going.

"I have staff so we just have to see how the future turns out," he said.

John Bampkin, CEO of building supplier Norman Piette, said the increases were impacting construction supplies during a time when the island needed new homes.

He said: "To put this type of increase on the material side of that construction will impact further the affordability of those houses.

"It's just going to make it more expensive before a spade is even put in the ground."

Jonathan Wilson, from Omega Group Construction, said the impact of the rising costs was unclear.

"I suppose the cost of living is so high at the moment so I guess the kind of scare for the consumer is how are they going to afford these costs," he said.

"It's not exactly clear just what impact this is going to have but we will have to see how this is going to unfold."

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