Updated at 3.35pm: First Ferry on Tuesday said pressure was mounting to raise fares, as it launched a new island hopping pass. New World First Ferry Services Limited reported a loss of more than $16 million last year, a spokeswoman for the company said. The company said new routes would be explored and measures to reduce operational costs would be launched. ''If we cannot make the ends meet, we will consider submitting the fare increase proposal,'' said Director and general manager John Hui Shiu-yin. He said the company had bought five new vessels to replace old ones in order to cut down on expensive maintenance costs of old ships. The new island hopping pass was launched as part of a package to attract more tourists. The one-day travel card allows unlimited travel between Lantau, Peng Chau and Cheung Chau at $30 (weekdays) and $50 (holidays). New World First Ferry operates eight outlying island and inner harbour routes.