In 2024 Spanish shipping company Baleària reported earenings of €130 million, an 11 per cent increase from the previous year, driven by a six per cent growth in turnover (€691 million).
However, its net profit decreased to €25 million due to higher expenses related to debt, interest rates, and environmental regulations.
Baleària tripled investments to over €300 million, focusing on new ships and fleet efficiency. The company also appointed Guillermo Utor as vice-president.
Operating 28 routes across five countries with a fleet of 40 ships, Baleària earned 61 per cent of its turnover from passenger transport and 35 per cent from freight.
Domestic routes contributed 75 per cent of revenue. In passenger traffic, 5.6 million passengers (+8 per cent) and 1.5 million vehicles (+10 per cent) were transported, with nearly half traveling to and from the Balearic Islands.
Internationally, Morocco accounted for 18 per cent of customers, with growth expected from the new Tarifa-Tangier Ville green corridor and three successful new routes to Algeria.
In the Mediterranean, Baleària operates domestic services within Spain to the Balearic Islands from Dénia, Valencia and Barcelona. The company also operates service across the Strait of Gibraltar from Algeciras to Ceuta and Tangier.
In North America, Baleària operates regular international ferry service between the port of Fort Lauderdale, Florida in the United States and Freeport, Grand Bahama Island and Bimini in the Bahamas. They operate in the US under the name Baleària Caribbean.
