2027 preliminary Operating Budget and rate adjustment information
The Steamship Authority has released our preliminary 2027 Operating Budget. Based on the last 12 months of vehicle and passenger traffic and projected expenses, the SSA’s “bottom line” comes to just $573,246, short of the approximately $10 million we target to fund our current bond payments and future capital projects. That’s led to a set of preliminary fare adjustments that, on average, are about 5% in every category.
The SSA’s fuel hedging program safeguarded our ratepayers from $4.1 million in price spikes, with marine diesel fuel costs averaging approximately $3 per gallon versus approximately $5 per gallon on the market. However, the cost of these hedges has increased for 2027 due to the volatility in the market. The budgeted cost of fuel oil, therefore, is the biggest increase in the 2027 budget, up $4.9 million. If fuel costs go down in 2027, the SSA will pay a lower price, and the savings can be used to accelerate 2028 expenses into 2027 and reduce the need for future rate adjustments in that year’s budget.
We’ll be on the road in our port communities and online in the coming weeks for further discussions about the preliminary budget and rate adjustments. In the meantime, check the materials below for more information.
October 19, 2026, news release on budget open houses
2027 Operating Budget open houses
Nantucket: 4-6 p.m. Monday, October 26, 2026, Nantucket Hotel and Resort, 77 Easton Street, Nantucket
Martha's Vineyard: 5-7 p.m. Tuesday, October 27, 2026, Martha's Vineyard Hebrew Center, 130 Center Street, Tisbury
Falmouth: 5-7 p.m. Wednesday, October 28, 2026, SSA Administrative Office, 228 Palmer Avenue, Falmouth
October 13, 2026, Port Council materials
Preliminary Operating Budget presentation
Staff Summary A-731: Preliminary Operating Budget
• Statement of revenues and expenses
Staff Summary A-732: Preliminary Rate Adjustments
• Statement of revenues and expenses (with preliminary fare adjustments)
• Preliminary rate adjustments — Woods Hole-Martha's Vineyard route
• Preliminary rate adjustments — Hyannis-Nantucket route