Baleària sets out to become carbon neutral by 2050

As informed by the company, Baleària has managed to overcome a complex situation marked by the COVID-19 pandemic and the growing competition in the industry.

Accordingly, the 103m euros of EBITDA enabled the company to offset the 15m euros of losses from the previous year, repay debt, consolidate its solvency and continue with the scheduled investment plan.

Despite this sector having been hit by the pandemic and mobility restrictions, we have handled this crisis by being an increasingly eco-efficient shipping company, committed to the region and with a vocation for public service

…said Adolfo Utor, Chairman of Baleària.

Mr. Adolfo Utor highlighted Baleària commitment to cleaner energies by saying that:

Our goal is zero emissions in 2050. We are involved in projects linked to green hydrogen and renewable biomethane, and we are committed to gas as a transition fuel

In the first quarter of 2022, the shipping company already operates nine ships with dual engines in which it has invested 380m euros, and which are compatible with the use of these CO2-neutral energies.

Prior in 2021, the use of natural gas grew by 36% and allowed Baleària to stop emitting 56,000 tonnes of C02, despite the fact that in October it was forced to restrict its use to port-based manoeuvres and port.

This is a temporary measure that we adopted out of responsibility and to preserve the viability of the company in the face of the escalating price of this fuel

…noted Adolfo Utor, who highlighted “the company’s determination to invest in projects linked to cleaner energies.”

The commissioning, in May 2021, of the innovative fast ferry, the Eleanor Roosevelt, the first in the world with dual gas engines, combines this commitment to sustainability with another of the shipping company’s strategic lines: digitalization.

We continue to progress towards our goal of turning Baleària into a company that uses big data to guide decisions in real time with maximum efficiency

…Mr. Utor explained, pointing out that the company already monitors its fleet through the Control Tower.

In addition, 7 of these ships have a sensor system that collects navigation and usage data in real time. Mr. Utor also pointed out the improvements to the customer experience thanks to digitalization, including virtual assistants and on-board entertainment.

As a responsible company, we have a driving economic, social and cultural effect on the regions

…noted Utor, who also pointed out that Baleària’s social cash flow in 2021 grew by 9%, reaching 576 million euros.

According to Mr. Utor, for the last 12 years Baleària has been “an exercise in transparency and rigour”, presenting its sustainability report to its stakeholders in accordance with the criteria of the UN Global Compact.

This year we are delighted to present it in the Balearic Islands, where our roots are. We are committed to these islands, as we are to all the regions in which we operate, and we are certain that to maintain our robust leadership position we must continue to be a local shipping company with soul and values

…Mr. Utor explained.