2023-08-15 19:52:58
The Valencian shipping company Baleària plans to invest in the next seven years billion euros to renew its fleet. The company owned by Adolfo Utor hopes to obtain guarantees from the State to finance part of the construction of between eight and ten ships. The company, which is based in Dénia, currently has a fleet of 36 boats, although some of them are chartered (they are rented). The company expects the delivery of a ‘fast ferry’ for 1,200 passengers and 400 vehicles in mid-autumn that is a twin of the Eleanor Roosevelt, a catamaran that is its flagship.
The Valencian company, which has entered the bid for the Canarian shipping company Armas, is experiencing full growth after consolidating its leadership position in Spain last year. The company operates 25 routes in six countries and has set itself the goal of expanding in the Caribbean. The firm transported 4,770,000 passengers and 121,000 vehicles last year.
Baleària finances the purchase of its ships with syndicated loans granted by a group (pool) of banks. Sources from the Valencian company explain that its latest investments in new ship construction have been more than 400 million euros. Specifically, the company has added to its fleet between 2019 and 2023 the ferries Hypatia de Alejandría and Marie Curie, the fast ferry Eleanor Roosevelt, the electric ship Cap de Barbaria and has the fast ferry Margarita Salas under construction, which will launch in October. In addition, it has invested in the repowering of six ships so that they can run on natural gas.
The company of Adolfo Utor is relying on Spanish shipowners to renew its fleet. The company commissioned the Armón de Gijón shipyards to build its star ship (the Eleanor Roosevelt, which has been operating since 2021) and a few months ago it was awarded the project for its twin (the Margarita Sala). The new fast ferry (whose name is a tribute to the pioneer in biochemistry Margarita Salas) will start operating in the coming months. The ship has the same characteristics as her sister ship: 123 meters long, 28 meters wide and a capacity to transport 1,200 passengers and 400 vehicles. On a technical level, the shipping company will increase the power of the Margarita Salas by 10% compared to its counterpart with the installation of four dual natural gas engines.
This will be Baleària’s tenth ship with dual natural gas engines, a versatile technology that can also consume 100% biomethane or green hydrogen blends of up to 25%. The Eleanor Roosevelt cost 90 million euros.
The latest ship that the shipping company has launched is the electric ferry Cap de Barbaria, which links Ibiza with Formentera. The ‘green’ fund (which invests in sustainable projects) from the Netherlands Prow Capital financed the ship. The Dutch debt vehicle has 140 million to finance the decarbonization of maritime transport and the Baleària project has been its first bet in Spain.
‘Slow travel’
The ship was manufactured at the Armón de Vigo shipyard and is the first in Spain with zero emissions at the entrances, exits and stays in the port thanks to the installation of an electric battery that is recharged during the voyage. The ferry reduces greenhouse gas emissions by 80% and connects the crossing between Formentera and Ibiza in one hour.
This journey lasts 20 minutes on a normal ferry, but Baleària operates the ship under the slow travel concept (travel slowly) with the aim that passengers enjoy the experience. The ship, which is profitable thanks to the transport of merchandise in its hold, is equipped with chill-out terraces.
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