The shipping company Baleària has reached agreements with the owner of Armas Trasmediterránea to acquire its operations in the Canary Islands and Alboran Sea, as well as part of the Strait of Gibraltar, which has been largely acquired by the Danish shipping group DFDS.
The transaction, which is pending the implementation of resolutions from the National Commission on Markets and Competition (CNMC), would involve the management of 15 vessels and the operation of maritime lines, as well as the integration of 1,500 land and fleet employees.
Strategic agreements
These strategic agreements would allow Baleària to achieve the necessary size and capacity to compete
For Baleària's chairman, Adolfo Utor, these strategic agreements would allow Baleària to achieve the necessary size and capacity to compete in a market marked by the presence of large, financially strong transnational groups, as well as to guarantee the stability of maritime services and employment: "If this transaction were to go ahead, it would help a local shipping company continue to compete efficiently with the newcomers, the large shipping groups already operating in our waters."
Furthermore, with the relevant approval from the CNMC, Utor noted that "Baleària would pick up the baton from the historic Trasmediterránea and the Armas shipping company, so deeply rooted and highly regarded in the Canary Islands, and with the synergies generated, consolidate the presence of a competitive local shipping company."
Approval of these transactions
On the other hand, the president of Baleària emphasised that the approval of these transactions would guarantee stability and territorial cohesion in a strategic sector, as a Spanish shipping company would be capable of managing all public service lines.
"The structuring of the national territory cannot be achieved without stable, high-quality, modern, and regular maritime connections; a role we have assumed for more than 25 years, which we emphasised during COVID, and which we are willing to continue offering comprehensively."
Baleària's enormous challenge
Likewise, Adolfo Utor explained that Baleària is aware of the enormous challenge involved in carrying out this process: "We are prepared and convinced that we will be able to turn this challenge into a reality, and to achieve this, we count on the enthusiasm and excitement of all our stakeholders, to whom we are incorporating the synergies and strengths of our new teams."
