The world's last seagoing paddle steamer, the Waverley, has been forced to impose a ticket surcharge after a sharp increase in fuel costs linked to the conflict in Iran. The vessel's daily operating costs have risen by £3,000 compared to last year, prompting fare increases of up to £4 from April 14.
Impact of Rising Fuel Prices
Named after Sir Walter Scott's novel, the steamer was first launched nearly 80 years ago. However, the charity that operates it says its future is uncertain due to soaring oil prices. Paul Semple, from operator Waverley Excursions, told The Telegraph: 'It risks her future if we don't do something. We have to somehow try to get some money towards these extra costs.'
The vessel, which can carry up to 860 passengers, uses Marine Gas Oil to heat water in its boilers to generate steam. The price of Marine Gas Oil has risen by 60 per cent, from £426 per metric tonne to £675, since the US and Israel began attacks on Iran in February. Owners say the ship will be burning £13 worth of fuel every minute based on current prices.
Financial Strain
Based on 12-hour trips, the paddle steamer's fuel costs are around £3,000 a day more than in 2025, increasing annual operating costs by approximately £400,000. Cruises run from May to October, with maintenance over winter. Tickets generally cost between £35 and £69, meaning the average fare is equivalent to less than four minutes' worth of fuel.
To mitigate costs, a fuel surcharge of £2 per ticket has been added to adult and senior fares under £45, rising to £4 for tickets over £45. Passengers who bought tickets before April 14 are exempt.
Historical Significance
The ship, based on the River Clyde in Glasgow, was built to replace a paddle steamer of the same name sunk during the Dunkirk evacuation in May 1940. Since 1974, it has operated mainly for tourists, carrying over six million passengers from more than 60 ports around the UK. The Waverley is set for eight days of cruises around Scotland's west coast in May, before heading to Cornwall later that month.
