Baleària Seals Acquisition of Naviera Armas

Overview

The Valencian company will manage the inter‑island routes of the Canary Islands, the Alboran Sea and part of the Strait of Gibraltar, the latter largely remaining under the Danish shipping group DFDS.

Baleària has reached agreements with the owners of Naviera Armas Trasmediterránea to acquire its operations in the Canary traffic, the Alborán Sea and a portion of the Strait, while DFDS will take over most of the Strait assets.

The transaction is still pending final approval from the Spanish National Markets and Competition Commission (CNMC).

Scope of the Deal

• Fleet and staff: Management of 15 vessels and the operation of maritime lines, together with the integration of roughly 1,500 land‑based and onboard employees.

• Revenue impact (2024):

  • Inter‑island routes in the Canaries, Canary‑Peninsula links, Alborán and Algeria generated about €420 million.
  • Strait routes contributed roughly €66 million.

• Key assets transferred to Baleària:

  • Vessels: Volcán de Teno, Volcán de Tamadaba, Villa Tazacorte, Volcán de Tinamar, Volcán de Tindaya, Juan J Sister, Almariya and Volcán de Timanfaya.
  • Port terminals, offices, concessions and service agreements at critical ports such as La Esfinge (Tenerife), Arrecife, Puerto Rosario, Cádiz, Melilla, Motril, Almería, La Palma, La Gomera, Valverde, Los Cristianos, Algeria and Nador.
  • The vessel Ciudad de Málaga and a concession in Algeciras.

• Assets transferred to DFDS:

  • Vessels Volcán de Tamasite and Villa de Agaete.
  • Concessions and terminals in Algeciras, Ceuta and Tangier Med.

Statements from Company Leaders

“These strategic agreements will allow the Dénia‑based carrier to reach the size and capacity needed to compete in a market dominated by large, financially strong transnational groups, while guaranteeing the stability of maritime services and employment.”
— Adolfo Utor, President of Baleària

“If this operation is carried out, it will enable a local carrier to continue competing efficiently with the newly arrived large shipping groups already operating in our waters.”

“With the appropriate CNMC approval, Baleària will inherit the legacy of the historic Trasmediterránea and Naviera Armas—deeply rooted and valued in the Canaries—and, through the synergies generated, consolidate the presence of a competitive local carrier.”

“Approval of these operations would guarantee territorial stability and cohesion in a strategic sector, as a Spanish carrier would be capable of managing all public‑interest lines.”

“The cohesion of the national territory cannot be understood without stable, high‑quality, modern and regular maritime connections—a role we have fulfilled for more than 25 years, highlighted during COVID‑19, and which we are ready to continue delivering comprehensively.”

“Baleària is aware of the great challenge this process entails. We are prepared and convinced that we can turn this challenge into reality, thanks to the enthusiasm of all our stakeholders, to whom we bring the synergies and strengths of the new human teams.”

Closing the Restructuring of Naviera Armas

“We are very proud to announce these agreements, which reflect the effort, dedication and unwavering commitment of the entire Armas Trasmediterránea team—crews, terminal staff and central departments, both in maritime and land operations.”
— Sergio Vélez, CEO and President of Naviera Armas Trasmediterránea

“This step consolidates our future in the regions where we operate and demonstrates our capacity for continuous transformation and improvement. With this operation, Armas Trasmediterránea joins a larger project that will open new opportunities for our employees and partners.”

“These agreements put the final seal on a demanding, lengthy but highly successful restructuring and transformation process, thanks to the commitment of all parties involved in restoring the company’s value.”