Shippingtelegraph: Baleària buys Armas Trasmediterránea’s Canary, Alboran, Gibraltar Strait business

by Shipping Telegraph

Spanish ferry operator has reached an agreement with the owners of the shipping company Armas Trasmediterránea to acquire its business in the Canary Islands, the Alboran Sea, and part of the Strait of Gibraltar.

The agreement includes the management of 15 ferries and the operation of a number of maritime routes, as well as the integration of 1,500 shore and fleet employees, Baleària said in a statement on Monday.

The completion of the deal is waiting for the final decision of the Spanish National Markets and Competition Commission (CNMC).

Baleària stated that this strategic sectoral deal would enable it to strengthen its position in a national maritime market dominated by five major transnational groups. If the deal is approved, it would allow the group to grow and become more competitive in the sector.

For Baleària’s president, Adolfo Utor, this strategic agreement allows Baleària to achieve the size and capacity necessary to compete in a market marked by the presence of large transnational groups with significant financial strength, as well as to guarantee the stability of maritime services and employment: “If this deal goes ahead, it will help a local Spanish shipping company to continue competing efficiently with the large groups that have recently arrived and are already operating in our waters.”

Furthermore, if the CNMC gives its approval, Utor has stated that “Baleària will take up the baton from the historic Trasmediterránea and the Armas shipping company, both deeply rooted and highly regarded in the Canary Islands, and will use the synergies generated to consolidate the presence of a competitive local shipping company.”

Additionally, the president of Baleària emphasises that the approval of this deal will guarantee stability and territorial cohesion in a strategic sector, as a Spanish shipping company will be able to manage the set of public interest routes.

“Spain’s national structure cannot be understood without stable, high-quality, modern, and regular maritime connections; a role we have been fulfilling for more than 25 years. This was particularly clear during the COVID pandemic, and we are committed to continuing to offer this service in its entirety.”

Adolfo Utor also explained that Baleària is aware of the huge challenge this process represents: “We are well prepared and fully convinced that we will be able to turn this project into a reality. We know we can count on the enthusiasm and commitment of all our stakeholders to make this happen, and we will be bringing the synergies and strengths of our new teams to the table.”