August 29, 2025
Naviera Armas Trasmediterránea, through its holding Bahía de las Isletas SL, has signed two binding agreements.
- To Baleària: sale of routes, assets, and employees in the Canary Islands, the Iberian Peninsula, Algeria, and the Alboran Sea, plus its land transport business.
- To DFDS and Baleària: transfer of Strait of Gibraltar activities, including vessels, concessions, and employees.
Assets and Revenue
- Inter-island Canary Islands, Peninsula, Alboran, and Algeria routes generated €420m in 2024.
- Assets include vessels VOLCÁN DE TENO, VOLCÁN DE TAMADABA, VILLA TAZACORTE, VOLCÁN DE TINAMAR, VOLCÁN DE TINDAYA, JUAN J SISTER, ALMARIYA, and VOLCÁN DE TIMANFAYA.
- Also included are port terminals, offices, and concessions in key ports such as Tenerife, Arrecife, Cádiz, Melilla, Motril, Almería, La Palma, La Gomera, and Nador.
- Strait routes generated €66m in 2024.
- Baleària acquires the ferry CIUDAD DE MÁLAGA and a concession in Algeciras.
- DFDS acquires VOLCÁN DE TAMASITE, VILLA DE AGAETE, and terminals in Algeciras, Ceuta, and Tangier Med.
Next Steps
- Completion is subject to competition authority approval.
- Shareholders and creditors have already given their consent.
Leadership Comments
- Sergio Vélez, CEO Armas Trasmediterránea: “This step consolidates our future, opens new opportunities, and marks the conclusion of a successful restructuring process.”
- Adolfo Utor, President Baleària: ““If this deal goes ahead, it will help a local Spanish shipping (Baleària) company to continue competing efficiently with the large groups that have recently arrived and are already operating in our waters.”
- Mathieu Girardin, Head of Ferry Division, DFDS: “The growth of the Strait of Gibraltar ferry market has exceeded our expectations since we entered the market in 2024. The two ferries we are purchasing are already operating on overlapping routes and we expect to deliver a smooth transition and an immediate enhancement of services to both passengers and freight customers.”
- From Baleària’s legal advisors Albors Galiano Portales on Linkedin: “Two strategic pillars have guided this operation: the territorial cohesion of our country, ensuring the connection between the islands and the mainland, and the creation of a major Spanish shipping company prepared to face the challenges of the future.”
About the deal with DFDS Iberia SL
- The two ferries being purchased are the RoPax ferry VOLCAN DE TAMASITE (2004) and the HSC VILLA DE AGAETE (1999).
- In addition, the capacity share of the freight RoRo EOS shared among the incumbent operators on Algeciras-Tanger Med is increased.
