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Tag: Naviera Armas | Ferry Shipping News

May 23
3

Baleària and Boluda Submit Bids for Naviera Armas

By | 2025 Newsletter week 21 | No Comments

Spanish ferry operators Baleària and Boluda Corporación Marítima have submitted non-binding bids to acquire Naviera Armas. The sale process is being managed by investment funds including JP Morgan, Barings, Cheyne, Bain, and Tresidor, who took control of Naviera Armas after capitalizing its debt.

Key Details:

  • Baleària, advised by Deloitte, is bidding for two of the three main operational areas of Naviera Armas: the Canary Islands and the Alboran Sea routes. There is also an option to include the Strait of Gibraltar routes.
  • Boluda, advised by KPMG, has partnered with a group of Canarian investors, including Rodolfo Núñez, president of the airline Binter, as well as companies like Satocan and Astican. Their bid focuses on maintaining and strengthening maritime connections within the Canary Islands.
  • Spanish media also write that DFDS is interested in acquiring a smaller portion of Naviera Armas, specifically targeting the Strait of Gibraltar routes. Also Stena and MSC are sometimes mentioned.
  • The shipping company’s valuation in the sale is estimated at around €200 million.

 Trasmediterránea (Balearic routes) was sold to Grimaldi in 2021 and became Grimaldi Trasmed.

May 23
3

Naviera Armas Plans New High-Speed Route Between Gran Canaria and Tenerife

By | 2025 Newsletter week 21 | No Comments

Naviera Armas is exploring a new high-speed maritime route between Arguineguín (Gran Canaria) and Los Cristianos (Tenerife).

  • Aims to directly connect the two main tourist hubs of the Canary Islands
  • Designed to ease pressure on the congested ports of Agaete and Las Palmas
  • Would improve inter-island mobility for both passengers and freight

The project is seen as a strategic enhancement of the current transport network in the archipelago.

Mar 10
0

Equity fund ownership for Naviera Armas

By | 2023 Newsletter week 10 | No Comments

The four private equity funds JP Morgan, Barings, Bain Capital and Cheney Capital were this week preparing to become the new major shareholders of the Naviera Armas group.

After first reducing debt through a conversion of financial exposure into shares and entering capital, El Confidencial revealed that these institutional investors now intend to recapitalise the group by becoming its controlling shareholders.

Once rescued, the next action will be to proceed with the sale of Naviera Armas.  In pole position among the interested parties is Balèaria but the Boluda Group and MSC are also in the running.

Photo: Naviera Armas

Mar 03
0

Baleària expresses an interest in Naviera Armas

By | 2023 Newsletter week 9 | No Comments

The President of Baleària, Adolfo Utor, has publicly stated the company’s interest “in a future acquisition of Naviera Armas in the event that the current owners put it up for sale”.

The company would be particularly interested in Armas’ Canaries inter-island traffic, where Baleària currently isn’t present.

However, the acquisition is said to be third place in Baleària’s priorities, below the expansion of the company’s Caribbean operation and the fleet renewal strategy.

Naviera Armas is expected to be offered for sale at some stage following recent restructures which have largely placed control of the company with banks.

Photo: Naviera Armas

Dec 22
0

Naviera Armas soon to be put up for sale?

By | 2022 Newsletter week 51 | No Comments

The Spanish ferry company Naviera Armas seems to be the next big deal soon to take place in the Mediterranean basin.

Spanish media report that the company, controlled today by the Armas family and the creditors (i.e. Jp Morgan, Barings, Cheyne Capital and Banco Santander), will have to be put on the market in the near future.

Balearia, Boluda, MSC’s Grandi Navi Veloci and Grimaldi Group are mentioned as potential buyers, but Grimaldi immediately denied its interest to Ferry Shipping News: “We are not going to play that match,” a spokesperson said. No comment from MSC as usual.

The sale process appears very complicated both for technical, financial, and legal reasons.

Oct 08
0

Private Equity funds Apollo and HPS injected USD 75 Million in Naviera Armas

By | 2020 Newsletter week 41 | No Comments

Spanish media reports that Naviera Armas has just received financial oxygen from two private equity funds, Apollo and HPS. They injected some USD 75 million in order to keep the ferry company alive in the rough seas of the coronavirus emergency.

Since the news went public both the EUR 280 and 300 million bonds issued respectively in 2016 and 2017 and due to expire in 2023 and 2024 decreased their values and are now negotiated in the range between 40 and 50% of the original value.

This new debt received from the funds comes after EUR 50 million provided by some Spanish banks earlier this year.

Last week Grandi Navi Veloci officially announced to have sub-chartered from Naviera Armas-controlled Trasmediterranea both ropaxes TENACIA and FORZA owned by Grimaldi Holding and deployed up to now on the Spain – Balearic Islands routes.

Jun 25
0

SHORT NEWS

By | 2020 Newsletter week 26 | No Comments

Eckerö Reopens Buffet

Until 25 June Eckerö serves a summer menu and breakfast that have been modified for safety and hygienic reasons.

As of 26 June, the company returns to normal buffet dining, with a reduced number of customer seats.

Naviera Armas Trasmediterránea will reactivate the Ceuta – Algeciras – Ceuta line starting June 22

After the virus-forced suspension, Naviera Armas Trasmediterránea will restart the route to the Spanish Autonomous City of Ceuta with high-speed ropax catamaran CIUDAD DE CEUTA.

Godby Shipping: Newbuilding Project Delayed

In a message on its social media, Godby Shipping says that, “global lockdown has made the demand for roro vessels almost disappear.”

“At present only MIMER and LINK STAR are trading and it remains uncertain when and how all vessels will be back in traffic.”

“Before the downturn the office was manned to handle at least seven vessels and the first stage of a newbuilding project. The newbuilding project is now at least 2-3 years into the future and the focus is to survive.”

As from July 10, several of the office staff will leave the company.

Mar 19
0

Naviera Armas

By | 2020 Newsletter week 12 | No Comments

Naviera Armas has published a long list of restrictions.

For Canary Island travel it is mandatory to present a sworn statement, justifying the reason for the trip. This will apply for the inter-island routes to the Canary Islands, and to the Peninsula.

Morocco and Algeria only accessible for freight.

Balearic Islands: severe restrictions for passengers. Freight drivers allowed.

Mar 28
4

VOLCAN DE TAGORO Will Be The Name For The New Armas Catamaran

By | 2019 Newsletter week 13 | No Comments

In May, Naviera Armas will take delivery of the 111m Incat 091, VOLCAN DE TAGORO. She will be named after a submarine volcano, which erupted off the island of El Hierro, the smallest of the Canary Islands.

 

She will have a capacity for almost 1,200 passengers, 215 cars and 595 lane metre of ro-ro cargo.

  • Contractual speed: 35 knots.
  • Contract price: EUR 74 million.
  • Engines: 4 MAN 28 / 33D STC 20V engines, (4X 9,100 kW)
  • Waterjets: Wärtsilä