SUSTAINABILITY REPORT 2024
LETTER FROM THE CHAIRMAN
Adolfo Utor Chairman of Baleària
For 15 years now, Baleària has been presenting its Sustainability Report. In this annual document we provide data that demonstrates our firm and renewed commitment to understanding our activity as a pledge to society and its future. It also allows us to reflect on what we do, how we do it, who we are and where we are going, as well as illustrating how we are meeting our goals and fulfilling our commitments.
Trust. In our more than 25 years of experience, we have managed to remain solvent and reliable. This has allowed us to build up trust
capital that has become one of our main hallmarks, committing us to the present and positioning us as stakeholders in a future where our values remain unchanged: responsibility, innovation, sustainability and solvency. Because long-term thinking and goals are both a requirement of our business and a responsibility we shoulder towards the regions in which we operate.
We have built up trust capital that has become one of our main hallmarks, together with values that remain unchanged.
This Sustainability Report shows that our commitment to technology and the environment has enabled us to sail further and pollute less. And that is the only possible path to a shared future that will allow us to keep progressing towards what we consider to be an achievable challenge: zero emissions by 2050. In 2024, we launched a new example of this, the Margarita Salas fast ferry. Yet another milestone in our commitment to technology and national talent as part of an investment strategy that is now approaching 1 billion euros, focused on ships that combine top-quality service with the lowest possible environmental impact.
These words are simply intended as an invitation to read the Sustainability Report, but I would like to highlight some of the data that I am convinced will generate shared pride: we are one of the best and most diverse companies to work for, with employees spanning 60 different nationalities; we are firmly committed to using local suppliers wherever possible, and another of our hallmarks, the Baleària Foundation, is always there when it is needed, as demonstrated by its support for the people affected by the DANA, the cold drop storm in Valencia, and the dozens of agreements that it has signed with social, cultural, sporting and charitable organisations.
And we keep taking on new challenges: 2025 marks the launch of the Tarifa-Tangier Ville shipping line, which we will transform into a green corridor by using electric ships. Spain and Morocco are united in this public-private initiative, which in its 15-year trajectory will aim to make the journey towards decarbonisation a reality.
And there are new projects on the horizon. Among the most imminent is
Our commitment to technology and the environment is the only viable path towards decarbonisation.
the opening of a new route between the Dominican Republic and Puerto Rico, as we are convinced of the growth potential of the Caribbean. Our international expansion also includes Algeria, a country in which we have consolidated our strategic commitment with new routes.
None of this would have been possible without the more than 2,600 people who, throughout 2024, have worked at Baleària and whose work has made everything included in this Sustainability Report a reality. To all of them, to our customers, suppliers, collaborators and institutions, we extend our heartfelt thanks.
LEADING SHIPPING COMPANY 1
INNOVATION AND RESPONSIBILITY
With a vocation to provide a quality public service, since it first set sail in 1998, Baleària has grown, driven by the innovation that is considered the key to its leadership, and through its responsibility to its customers and other stakeholders.
INNOVATION, SERVICE AND SUSTAINABILITY
–
Baleària is Spain's leading passenger and cargo shipping group, an international company with deep local roots and operations in five countries.
Baleària is synonymous with a vocation for quality public service within a strategic sector that contributes fundamental value to economic and social development in the regions where it operates.
Since it first set sail in 1998, Baleària has grown, driven by the innovation that is considered the key to its leadership, and through its responsibility to its customers and society. In line with this commitment, it continues to offer the highest levels of efficiency, punctuality and comfort, as well as increasing digitalisation on all its routes, with a fleet of 43 ships and 2,600 employees who form a strong, cohesive and committed team.
The company is also a leader in sustainability thanks to its pioneering commitment to eco-efficient mobility, powered by cleaner energies including natural gas and electric propulsion. Its commitment to the energy transition is undeniable: part of its fleet runs on gas, it has two electrically-powered ships (and is going to build another two), it participates in projects linked to the use of renewable energies, like green hydrogen and biomethane, and it aims to achieve zero-emissions shipping by 2050. Thanks to this commitment, it was the first Spanish shipping company to receive the Green Marine Europe certificate.
From its very first construction, a high-speed vessel that was commissioned in 2001 and which revolutionised transport links between the Balearic Islands and the Spanish mainland, to the 2024 launch of the world's second fast ferry with dual gas engines, Baleària has charted a course based on responsibility, innovation, sustainability and solvency.
This is the journey we share.
GOVERNANCE
The Baleària governance structure reflects a holistic approach that encompasses both the internal and external aspects of our business management. At the apex of this structure is the Board of Directors, the main governing body responsible for strategic decision-making and the overall supervision of the company. It plays a crucial role in establishing the guidelines and policies that set the company’s direction.
Just below the Board of Directors, Baleària has the Standing Committee, a dynamic entity made up of the members of the Board of Directors and the Director of Operations and Exploitation. This committee is continuously in action, dealing with urgent matters and ensuring the smooth and efficient management of the day-to-day business.
Another governing body is the Executive Committee. This is responsible for the operational implementation of the strategic decisions made by the Board and the Standing Committee, and ensures that the daily operations align with the vision and objectives set out by the highest governing body.
Certain bodies perform specific functions. These include the Ethics and Compliance Committee.
In addition, the Works Council is responsible for representing the interests of the employees. This council includes trade union representatives and contributes to participatory management by facilitating communication between the management and the employees, thereby promoting a fair and collaborative working environment.
In addition, the Equality Committee, which is part of the Equality Plan, is responsible for promoting gender equality and non-discrimination in the work environment.
Overall, the governance structure, supported by the active presence of the Standing Committee, reflects Baleària’s comprehensive commitment to transparency, ethics and fairness.
Board of Directors
Adolfo Utor Chairman and sole shareholder
Georges Bassoul Chief Executive Officer
Ricardo Climent Chief Financial Officer
José Manuel Orengo General Secretary
BUSINESS MILESTONES 2024
The ‘Margarita Salas’, the flagship of an ecoefficient fleet
Incorporating new ships that use cleaner energies, such as natural gas or electric propulsion, demonstrates Baleària's commitment to innovation and the environment. The Margarita Salas fast ferry is, in this sense, the company's flagship vessel.
New routes to Algeria
Baleària has expanded its links to Algeria, a market it considers strategic for its development. The shipping company currently operates up to four routes from Valencia and Barcelona to the ports of Algiers, Oran and Mostaganem.
First green corridor: Tarifa-Tangier Ville
The company has been awarded the tender to operate the first intercontinental green shipping line between Spain and Morocco, for which it will build two 100 % electric fast ferries that will sail with zero emissions.
Renewal of the commitment to Melilla
Starting in 2025 and for two years, Baleària will manage the public service maritime route between Malaga and the autonomous city of Melilla, where it runs the innovative ferry Rusadir
BUSINESS MODEL 2
AT THE FOREFRONT OF THE SHIPPING INDUSTRY
Baleària's business model involves large investments, mainly in fleet renewal. For this reason, the company has its sights set on the long term, with a clear vocation for permanence.
BALEÀRIA IN FIGURES
Since its beginnings, Baleària has offered combined passenger and cargo maritime transport, a strategic service that strengthens cohesion between regions and boosts their social and economic development.
Maritime transport, both of passengers and goods, is a strategic and essential service for trade and the economy. In recent years, passenger transport has been gaining more and more weight at Baleària: in 2024 this area accounted for two thirds of the business. Baleària's business model involves large investments, mainly in fleet renewal to ensure the competitiveness of its service. For this reason, Baleària has its sights set on the long term, with a clear vocation for permanence.
ROUTES
Baleària's route network facilitates the efficient and sustainable transport of passengers and goods. Its ability to offer top-quality services and, at the same time, build bridges that promote the development of communities, makes the company a key player in the maritime transport sector.
CARIBBEAN
FLORIDA BIMINI FORT LAUDERDALE FREEPORT
GRAND BAHAMA THE BAHAMAS THE USA
CANARY ISLANDS
TENERIFE
SANTA CRUZ
GRAN CANARIA LA LUZ
SPAIN
BARCELONA
VALENCIA
DÉNIA
HUELVA
AL IR A MÁ LA G
ALGECIRAS
TARIFA**
TANGIER VILLE
TANGIER MED
MALAGA MOTRIL ALMERÍA
CEUTA
NADOR MELILLA
MOROCCO
MOSTAGANEM
MENORCA CIUTADELLA
MALLORCA
ALCÚDIA • PALMA
ALGIERS* ORÁN* IBIZA FORMENTERA
ALGERIA
*New routes with Algeria. Baleària has launched operations between Valencia and Algiers (October 2024), Valencia and Oran (December 2024), and Barcelona and Algiers (January 2025). In the summer of 2024, for a few weeks, Baleària operated the Alicante-Oran route.
** In 2025 Baleària will start operating the route between Tarifa and Tangier Ville
The company is also working on the opening of the route between San Pedro de Macorís (Dominican Republic) and Mayagüez (Puerto Rico).
PASSENGER TRANSPORT
Baleària is a benchmark in terms of maritime mobility, offering topquality transport services based on innovation and respect for the environment. Passenger transport is the company's most important business area.
Passengers
DOMESTIC
4,448,000 +8 %
INTERNATIONAL
1,229,000
5,677,000
Vehicles
DOMESTIC 1,187,000 +10 %
INTERNATIONAL 326,000
1,513,000
Balearic Islands
The routes to the Balearic Islands continue to be Baleària's main market and are very well established. It is the only shipping company that offers a comprehensive service to all the islands in the archipelago, as well as between them, with very good results in terms of occupancy. Interisland routes account for almost a quarter of Baleària's total passengers.
Ceuta and Melilla
Ceuta is an established destination, with a high volume of passengers and commercial success. The routes to Melilla have seen the greatest growth in passengers, especially the Melilla-Malaga route thanks to the operational efficiency of the ship Rusadir and the timetable adjustments designed to improve mobility. Starting in 2025 and for two years, Baleària will manage the public service maritime route between Malaga and Melilla.
Canary Islands
On the Canary Islands routes, Baleària has strengthened its collaboration with Fred. Olsen Express to improve its efficiency and has achieved a notable increase in passenger traffic thanks to the incorporation of a second ferry.
Comprehensive service to the Balearic Islands
Baleària is the leading company in the Balearic Islands thanks to its comprehensive service. It is the only shipping company that connects the Spanish mainland with all the Balearic Islands, with direct routes throughout the year, providing a quality service for both tourists and residents.
Two of the company's most innovative ships operate in the Balearic Islands. The summer 2024 launch of the fast ferry Margarita Salas, which connects Barcelona with Mallorca and Menorca, has been a resounding success: in the high season there was a 60% increase in passengers between the Spanish mainland and the Balearic Islands, who rate the ship 8.6 out of 10. It has thereby added to the good results of its twin, Eleanor Roosevelt, which has been operating on the Dénia-IbizaPalma route for three years.
Baleària offers its passengers a quick and convenient way to reach their holiday destination, with the option of travelling with their vehicle and no luggage limit.
Morocco
Morocco is emerging as an increasingly important strategic destination on the company's route map, growing steadily and gaining a solid leadership position, especially on the Tangier Med-Algeciras route. After more than 20 years operating in the country, Morocco has become the company's main international market
Tarifa-Tangier Ville
Baleària will start operating the international Tarifa-Tangier Ville route in 2025, after being awarded the 15-year contract to manage the first intercontinental green corridor. The shipping company will build two 100% electric propulsion ships for this link.
Algeria
Algeria is a strategic market for Baleària. Summer was a great season on the Valencia-Mostaganem route, and the company also started a weekly connection on the AlicanteOran route, which was set up in a very short time thanks to the agility of the teams and the company's responsiveness. Between the end of 2024 and the beginning of 2025, the shipping company opened a number of new routes (Valencia-Algiers, Valencia-Oran and Barcelona-Algiers), efficiently establishing links between Africa and Europe and with good prospects for growth.
Baleària spearheads Operation Crossing the Strait
Baleària's North African routes are expanding and achieved excellent results over this past year. During Operation Crossing the Strait, the shipping company operated 12 ships, making more than 5,000 trips and transporting 1,400,000 passengers and 360,000 vehicles. Half of the passengers travelled on the routes that connect with Morocco.
During a period of high demand, with a high-quality, reliable service and very high punctuality rates, Baleària once again reaffirmed its commitment to international mobility, offering more personalised attention and providing on-board services adapted to passenger needs. The ships that operate on these routes have Arabic and French-speaking stewards, the bars and restaurants offer halal food, and there are dedicated prayer rooms for the crossing. In addition, the company has a telephone helpline in Arabic to respond to enquiries.
Caribbean
In 2024, the company consolidated the route linking the Bahamas with the United States, which has been very successful and contributed to the company's economic development. Baleària considers the Caribbean to be an emerging market with great potential. In addition, a new route is in the pipeline that will connect San Pedro de Macorís (Dominican Republic) and Mayagüez
(Puerto Rico). Baleària will invest 100 million dollars in this launch, a sum that includes the construction and adaptation of port infrastructures.
In the Caribbean, Baleària is applying its transport model, which has the potential to be a key driver for the socioeconomic development of these regions.
The customer experience
Baleària's commitment to its customers goes beyond providing an efficient and reliable transport service. The company offers an exceptional and enjoyable on-board experience, which this year earned it increased recognition from travellers. Year after year, the company continues to make improvements to its ships, investing in renovations of the interiors and passenger areas. In 2024, highlights include the comprehensive refurbishment of the Passió per Formentera ferry and the Jaume II fast ferry.
Top rated on-board services
Baleària's decisions are aimed at achieving excellence in every detail. The catering services (on-board cafes and restaurants) prioritise local products and offer options for people with special dietary requirements: vegan, gluten-free or halal diets on certain routes. They also recognise that during the high season it is common for families to travel together, so the company offers on-board entertainment, including music and children's activities. Similarly, Baleària is aware that
increasing numbers of people like to travel with their pets, and so it offers a range of pet-friendly accommodation where animals can travel safely and comfortably, even with their owners, in speciallyadapted seats or cabins.
More digital services
Almost half of Baleària's fleet has digitalised on-board services, which provide digital access to the ships and their accommodation. These 13 smart ships also offer their customers use of the Smart B app, with services including a digital entertainment platform (audiovisual content, newspapers and games), internet access and video surveillance of pets.
100,000
Customer satisfaction ratings
Baleària's efforts to improve the passenger experience have been recognised by its own customerswho in 2024 gave the company a satisfaction rating of 8 out of 10. This positive rating indicates a high level of trust and loyalty towards the brand and the direction it is taking its services. One of the most highly valued aspects is the human touch, a crucial factor in ensuring well-being on board. The ships with the highest scores are the newest and those in which the shipping company has invested most recently: the ferry Rusadir and the fast ferries Margarita Salas and Eleanor Roosevelt
Somos Mar
Somos Mar (We are Sea) is Baleària's new brand positioning, which reflects the values and essence of the company and its commitment to the sea and the planet.
Loyalty through Baleària Club
The Baleària loyalty programme offers its members benefits and discounts through points that are accumulated when travelling. In 2024 it grew exponentially in all aspects, including the number of members who have redeemed points and the total number of points. 72% of members in 2024 have selected a connection with the Balearic Islands as their preferred route and, in total, they have obtained twice as many rewards as the previous year.
Members
567,000 +49 %
Digital channels, expanding
The importance of digital channels continues to grow. The biggest increase has been in online sales to private individuals, in line with changing consumer habits.
Baleària faces the challenge of continuing to promote digital channels, modernising habits in certain customer segments and promoting the use of its app as a strategic channel.
Baleària has improved its online check-in system and the selfmanagement of bookings via both the website and the app. It has also developed Easy Pass, a new app feature for Baleària Club members, which speeds up the purchase and boarding process on the route between Ibiza and Formentera. Using a QR code, passengers can board without booking in advance, as well as pay and validate their residence discount. It has also launched GuIA Baleària, an artificial intelligencedriven platform that helps passengers
create and plan a personalised itinerary for their trips to the Balearic Islands.
On social media, the shipping company has a strong and active community, with positive brand perception. In 2024, Baleària was ranked seventh in the Top 10 of the brand sentiment ranking on social media in Spain (Travel sector) of the Alkemy and IAB Spain Report.
7,110,000 web and app users
+10 %
651,000 followers on social media
+51 %
Customer service through different channels
Customers have a number of options for communicating with Baleària. The customer touchpoint that has been gaining most prominence is the chatbot, on the website as well as on social media and via instant messaging. It is the first point of contact before the customer is subsequently referred to an agent, when necessary. It has a query resolution rate of 87.8 %, making it a huge advantage for customers.
Although the chatbot is a primary point of entry for addressing inquiries, Baleària agents can be contacted directly via phone or online form. Telephone calls are still the main communication channel when it is necessary to speak to an agent. For this reason, with the aim of offering a more streamlined and personalised service, Baleària is working on a new call manager to improve response and process monitoring.
918,000 chatbot conversations
+6 %
508,000 contacts handled by agents
+3.7 %
GOODS TRANSPORT
The supply of essential commodities is strategic for regional development
Baleària is well aware that it plays a crucial role in ensuring the transport of goods in the regions where it operates. Reliability, punctuality and adaptation to the logistical demands of its customers are some of its commitments that guarantee an impeccable service on all its daily links.
In the Balearic Islands, the company has managed to maintain the same linear metres of cargo this year as last year, in a very competitive market. Baleària is the only shipping company with its own comprehensive service that operates up to five daily routes to Mallorca, providing a significant advantage compared to other transport companies. With arrivals scheduled early in the morning, the
company optimises each trip to the islands, allowing for same-day return travel. This operational efficiency not only benefits the company and customers, but also contributes to the economic development of regions outside mainland Spain, facilitating reliable and secure freight transport.
In the Canary Islands, the increased number of departures has allowed the consolidation of freight transport, while in Morocco there has been steady and increasingly significant growth in the cargo business, establishing it as a clear focal point for future development.
Goods
lm
By zones
BALEARIC ISLANDS 60 %
MOROCCO 30 %
CANARY ISLANDS 5 % CEUTA 3 %
MELILLA 2 %
7,640,000 lm +3 %
(564,000 trucks)
By type of goods
FOOD AND BEVERAGES 23 %
CONSOLIDATED 16 %
BUILDING MATERIALS 11 %
TEXTILE SECTOR 6 %
OTHER OR UNIDENTIFIED 44 %
Comprehensive and reliable freight transport
Reliability
The shipping company's large fleet guarantees its service and provides an immediate response to any contingency, ensuring that there are alternatives available to ensure continuity of service in the event of incidents.
Flexibility
Baleària's model stands out for its adaptability in meeting both market demands and the specific needs of each customer.
Punctuality
The company has a modern fleet that guarantees the quality and lead times of the supply chain thanks to its excellent punctuality rate.
Complex logistics chains
Baleària is a benchmark shipping company for large food chains, as it has customer-specialised teams and is able to adapt to the pressure of the logistics chain and the difficulty of managing seasonal peaks.
Digitalisation
For years, Baleària has focused on digitalising the entire freight transport cycle to streamline port operations, enable customers to better plan their logistics, and make travelling more comfortable for carriers.
In 2024, as part of the European SIITIM project, Baleària developed a new pilot digital portal with interconnected systems, which offers cargo customers relevant information in real time. This allows
them to manage their journeys more efficiently and access data such as the location of their equipment and ships or possible incidents and changes to routes. The portal will be activated progressively, and, in a second phase, information on sustainability and the carbon footprint of each journey will be incorporated. Moreover, the shipping company has incorporated a new management system for its comprehensive door-to-door transport service, which enables better monitoring of all phases.
Baleària had its own stand at the SIL international logistics trade fair in Barcelona and at Fruit Attraction in Madrid, as well as attending other forums and conferences related to logistics, transport and the supply chain.
FLEET
Ferries owned
Abel Matutes
Bahama Mama
Cap de Barbaria*
Dénia Ciutat Creativa
Hedy Lamarr
Hypatia de Alejandría
Marie Curie
Martín i Soler
Nápoles
Passió per Formentera
Poeta López Anglada
Regina Baltica
Rusadir*
Sicilia
Virot (ro-ro)
* Cap de Barbaria: electric propulsion; Rusadir: dual fuel electric propulsion.
Auxiliary vessels: Águila Pescadora, Corb Marí, Rolón Plata, Foners and Wonder of the Port
Fast ferries owned
Avemar Dos
Bimini Blue Marlin
Cecilia Payne
Gas-powered fast ferry*
Electric fast ferry 1*
Electric fast ferry 2*
Formentera Direct
Eco Aqua
Eco Aire
Eco Terra
Eco Lux
Eleanor Roosevelt
Jaume I
Jaume II
Jaume III
Margarita Salas
Nixe
Ramon Llull
ECONOMIC PERFORMANCE
Baleària is in a phase of growth and expansion. This is driving the construction of new more sustainable ships, opening up routes to new markets, incorporating new technologies and attracting talent.
Against this backdrop, Baleària generated a higher EBITDA (11%) in 2024, reaching 131 million euros, driven by a 6% increase in sales (691 million euros). However, the net result has declined due to increased depreciation and financial expenses arising from higher debt, the evolution of interest rates, and the high costs of environmental regulations (EU ETS).
Key investments
This year, the company tripled its investments, focusing on improving and optimising fleet efficiency and on the purchase and construction of new, more sustainable and innovative ships, such as the ferry Rusadir and the fast ferry Margarita Salas.
Social cash flow
The value generated by Baleària and distributed among its stakeholders (employees, partners, public authorities, investment partners, and goods and services suppliers) grew by 10 %.
Turnover
Investment
309 M€
Social cash flow
1,037 M€
COMMITMENT TO THE PLANET 3
SUSTAINABLE MOBILITY: THE ONLY POSSIBLE WAY FORWARD
The company is fully aware that sustainable mobility is the only way to make a real contribution to caring for the planet. Baleària keeps up to date with any eco-efficiency technology or measures that it can apply.
ECO-EFFICIENT AND COMPETITIVE MOBILITY
Sustainable mobility is the only way to help truly care for the planet.
For years, Baleària has been committed to eco-efficient and sustainable shipping that helps protect the environment while offering increasingly competitive services. The shipping company is committed to the challenge of reducing carbon emissions to zero by the year 2050, aware of the complexity of this undertaking. Nevertheless,, it is moving towards this goal convinced that sustainable mobility is the only possible way to make a real contribution to caring for the planet.
2017
Baleària's sustainable fleet 2017-2028: an investment of almost 1 billion euros
This commitment goes back a long way. In 2009 and 2010, the company added four ferries with increased energy efficiency. It was an important first step. From that point onwards, Baleària began to monitor the ecoefficiency of its fleet so that it could implement measures to reduce carbon emissions. Thanks to a European project, it promoted a study on the use of natural gas as a fuel and installed the first gas-powered generator for passenger ferries in Spain. The next steps were to train its crews in the use of natural gas
2018 2019 2020
and to push for the creation of the Spanish Association of Natural Gas for Mobility (Gasnam) so that, from 2019, it became the first shipping company to operate natural gas passenger and cargo ferries in the Mediterranean, the Strait of Gibraltar and the Canary Islands. This was made possible thanks to a significant and decisive investment in the construction of new ships and the re-engining of others, enabling them to sail using this cleaner energy. Natural gas has been Baleària's main commitment as a transitional energy, which is already bearing fruit in terms of reducing the company's carbon footprint. However, it has also started to incorporate electrical power and is analysing how to use renewable energies. In addition, Baleària improves fuel consumption and emissions monitoring each year, utilising a Control Tower and sensors on its ships to obtain real-time data to enable more efficient decision-making.
NEW ENVIRONMENTAL REGULATIONS
In recent years, growing concern about climate change has prompted the European Union to promote various regulations affecting sectors that can help reduce greenhouse gases. Progress towards zero emissions in the shipping sector has been advancing thanks to these increasingly demanding regulations, in addition to an ever more competitive environment and the desire of Baleària to remain at the forefront of the industry. Sustainability is the only possible option.
In this vein, since 2023 the regulatory framework has been strengthened through the implementation of new mandatory regulations. Baleària, as well as complying with all of them, exhaustively monitors and keeps track of new regulations so that it can anticipate them and operate as efficiently as possible through its Control Tower.
Baleària closely monitors new regulations to anticipate changes and operate in the most efficient way possible.
The European Union seeks to limit CO2 emissions in maritime transport through the EU ETS (Emissions Trading System). This came into force on 1 January, 2024, and requires ships of a certain tonnage to pay for the tonnes of CO2 emitted, incentivising the reduction of emissions and more eco-efficient shipping practices. Shipping companies are obliged to purchase emission rights equivalent to the total volume of tonnes of CO2 emitted on the routes in question. These rights are acquired in a very liquid competitive market, and the price fluctuates in direct line with supply and demand. The scheme is being introduced gradually: in 2024 it covered 40 % of emissions, in 2025 it will rise to 70 % and in 2026 it is due to come into full force.
In 2025, the Fuel EU Maritime Regulation comes into force. Its main objective is to promote the use of low-carbon fuels by establishing standards for maritime fuels. It will oblige operators to pay according to the eco-efficiency of the fuel used, encouraging cleaner options that have less environmental impact. In addition, from 2030, OPS will be mandatory in certain ports.
Finally, the International Maritime Organisation (IMO) has included the Mediterranean Sea as an ECA (Emission Control Areas). This zone in which sulphur oxide and particle emissions are controlled is coming into effect in May 2025. This means that, starting from that date, ships will have to use low-sulphur marine fuel with a maximum sulphur content of 0.10 %.
2024
Regulations
l First year of EU ETS accrual.
Tons of C02 affected
133,000 tonnes
Impact on the income statement
9 M€
2025
Regulations
l EU ETS increases from 40 % to 70 %.
l FuelEU Maritime Regulation enters into force.
l ECAs begin to be applied in the Mediterranean.
Estimated impact on the income statement
26 M€
CARBON FOOTPRINT
Despite having increased the number of miles sailed by 1.4 %, this year Baleària has, for the first time, reduced its total CO2emissions (not including the year in which the pandemic forced it to drastically reduce its activity). With more than 1.8 million miles sailed (1.4 % more than in 2023), it has emitted 1. 95 % less CO2 (15,000 tonnes) than in 2023. The ratio of emissions to miles sailed was 0.4. The company has improved both compared to the previous year and in relation to 2022, when it limited the use of natural gas due to the soaring price of this fuel. This is the lowest ratio Baleària has ever recorded, an excellent achievement directly linked to more efficient vessel operations and the use of natural gas: more than 35 % of the vessels Baleària owns are currently powered by this fuel. Additionally, the ratio of tonnes of CO 2 emitted per passenger has also decreased (by 9.5 % compared to the previous year and 32 % compared to 2021). Carbon dioxide emissions per linear metre of freight transported are also down on the previous year.
-15,000 tonnes of C02 emitted -1.95 % (vs. 2023)
-3.3 % t C02 / mile vs. 2023
-11 % (vs 2022)
1,892,000 miles sailed +1.4 %
-9.5 % t C02 / passenger vs. 2023 -32 % (vs 2021) -4.9 % t C02 / LM vs. 2023
43,900 journeys +3.2 %
ECO-EFFICIENCY MEASURES TO REDUCE THE CARBON FOOTPRINT
Energy sources
Baleària has implemented various measures to reduce its carbon footprint, the most notable of which are those related to fuel management, since shipping emissions have the greatest impact.
Natural gas as a transition fuel
The main measure currently being implemented is the use of natural gas, the cleanest and most mature energy currently available for maritime transport. This fuel reduces CO2 emissions by 30 % and NO x emissions by 85 %, as well as completely eliminating sulphur and other particles harmful to health.
l Miles l t CO2
l LNG
Over the last year, the use of gas in Baleària has grown by 184 %. To date, the company already has 11 dual-engined ships. This versatile technology allows different fuels to be used, including, at present, gas as well as CO2-neutral renewable sources, which are still in the development phase.
Over the last few years, the company has been able to improve its ecoefficiency ratio to achieve reduced emissions, while at the same time progressively increasing its use of gas. The data clearly shows that there is a relationship between the use of this fuel, improved efficiency and a reduced carbon footprint.
Electric power
Two electric ships, the Cap de Barbaria and the Rusadir, have ushered in a new era. In 2023, the Cap de Barbaria, an innovative ship on the Spanish maritime scene, was launched. Since its commissioning, it has raised the sustainability and efficiency standards on its route between Ibiza and Formentera, being notable for eliminating emissions and noise during port approaches and stays. It is an important milestone on the road to cleaner and more responsible shipping. That same year, Baleària also added the Rusadir to its fleet, featuring dual-fuel natural gas engines and an electric propulsion system.
Emissions-free electric fast ferries
Baleària will build two 100% electric catamarans for its new Tarifa-Tangier Ville route. These vessels will have an electrical power of 16 MW and will be equipped with four batterypowered electric motors, allowing them to complete the entire journey using electric propulsion and producing zero CO2 emissions. Holding more than 800 passengers and with a speed of 26 knots, they will offer high operational efficiency and the highest level of on-board comfort.
Electric ferry 'Rusadir'
The Rusadir is a state-of-the-art eco-efficient ferry with an all-electric propulsion system powered by dual gas engines. The ship also has two transverse bow thrusters plus one at the stern, with a power of 2 MW each. These, together with the electric motors, permit a great deal of manoeuvrability. Its stabilisation system and technical innovations minimise noise and vibrations.
Alternative fuels
Baleària has been researching alternative energy sources for years. The company is aware that developing the use of biofuels is crucial for reducing maritime transport emissions. Synthetic fuels and green hydrogen are also very promising because of their potential for zero net emissions.
However, the maritime transport sector faces significant challenges when it comes to using these energy sources on a regular basis due to their limited production capacity, their costs, the technological advances required, the availability of port infrastructure and the implementation of policies to incentivise their use.
Baleària has carried out studies into the viability of biofuels, including a pilot trip using biomethane in 2021, as well as developments in the study of non-biological renewable fuels such as methanol, ammonia and hydrogen. And it continues to carry out further research.
Operational measures
Baleària is implementing a series of operational measures aimed at improving fuel efficiency and, consequently, reducing polluting emissions. To this end, fuel and emissions data are continuously monitored from the Control Tower and through other reports. In addition, an internal guide with fuel-saving criteria is available for the entire fleet and training has been provided for bridge and engine crews. The company allocates each vessel a monthly MWh quota by fuel type, taking into account routes, bunkering ports (fuel cargo operations), and environmental regulations. In order to reduce the MWh/mile ratio in the fleet, all this data is analysed, and routes, schedules and speeds are optimised.
Other initiatives have also been introduced, such as a new stabiliser control system, hydrodynamic improvements to the hulls of the ships, cleaning of hulls, propellers and rudders when afloat, and new software to optimise the trimming of the ships, in other words, efficient weight distribution. In addition, LED lighting is being installed throughout the fleet and air curtains are being fitted to improve air conditioning efficiency.
Baleària has installed scrubbers, or exhaust gas purification systems, on some of its ships. This enables it to use heavy fuel oil (HFO) on routes
affected by sulphur oxide and particle emission control regulations in the Mediterranean, while also reducing CO2 emissions compared to the alternative fuel (MGO).
Measures under study
Baleària stays up to date in terms of any energy-efficiency technology that hits the market, or which is in development, that the company can apply to its ships. The shipping company is currently looking into new strategies, such as optimising on-board electricity consumption, the possible use of batteries, the use of residual heat through heat recovery systems, and carbon capture systems. The installation of Air Lubrication Systems is also being analysed. These systems reduce friction between the ship's hull and the water thanks to a layer of air. Other measures being considered include high-performance eco-friendly paints and vibration systems to prevent incrustations on the hull.
Reduction of noise and light pollution
The modernisation of the fleet and the innovations incorporated have made it possible to reduce noise pollution from ships while they are berthed in ports, both ferries with electric engines, which eliminate noise completely, and ships with gas engines, which reduce noise levels by half.
Furthermore, at the maritime stations directly managed by Baleària (Valencia and Dénia), the shipping company conducts acoustic audits to ensure that the established limits are never exceeded.
Another eco-efficiency measure is the use of the OPS (Onshore Power Supply) system. Baleària has three ships with this system for connecting to the land-based electricity grid while moored in port. However, it is currently only available in the port of Palma for the fast ferry Eleanor Roosevelt. This measure avoids the use of combustion engines during port stays, eliminating both emissions and noise.
Environmental indicators
Baleària is currently defining a series of environmental indicators that will be monitored and controlled on an ongoing basis so that corrective measures can be applied if necessary. The objectives set will be fully integrated into the corporate strategy. Indicators linked to the fleet's consumption and the eco-efficiency of each ship will be developed, and the allocation of fuels and compliance with environmental regulations and their economic impact will be controlled and monitored.
'Margarita Salas', flagship of a future-proof fleet
The Margarita Salas is one of the clearest examples of Baleària's commitment to sustainable and responsible shipping. It is the second fast ferry in the world to be powered by dual natural gas engines, with improved manoeuvrability, power and comfort over the first vessel of this kind, the Eleanor Roosevelt The company's flagship began sailing in the summer of 2024, between Barcelona, Alcúdia and Ciutadella.
The catamaran is powered by four dual natural gas engines that allow it to reach a speed of 35 knots, as well as technology that reduces movement and minimises vibration and noise. It is equipped with sensors that monitor a number of parameters in real time, and has a terrestrial electricity connection. The innovative nature of this ship proves that increasingly eco-efficient navigation is perfectly compatible with improving services focused on passengers, comfort and competitiveness.
The name Margarita Salas pays tribute to the 20th century Spanish scientist who pioneered biochemistry and molecular biology and who, like this ship, represents innovation and the relentless pursuit of progress.
Lower emissions
-13,000 tonnes CO2 per year -22% vs. previous ship
EUROPEAN PROJECTS THAT MAKE A DIFFERENCE TO SUSTAINABILITY
Beyond Sea Project (Last Mile)
Baleària, together with some other companies, is part of a consortium looking for technological solutions to optimise fuel consumption and reduce the environmental impact of maritime passenger transport. The goal of the project is to use big data, algorithms and smart data visualisation to make operational decisions that minimise environmental impact and reduce fuel consumption. The technical and economic report of the project has already been drawn up.
Baleària collaborates with European institutions and companies to pool their efforts and create synergies that allow progress to be made more quickly and constructively.
Development of an innovative industrial ecosystem for a competitive, diversified and sustainable shipbuilding sector (INNCODIS)
In a consortium with eight other companies, Baleària plans to carry out a feasibility study that will enable the Spanish shipbuilding sector to achieve climate neutrality through technological development.
Poseidon (Power Storage in D Ocean)
The company is part of this project on the applicability of fast-response energy storage systems in maritime transport. Baleària contributes its experience as a shipowner to help understand the usefulness of these technologies and their viability in the industry.
Interconnected and Smart Systems for Intermodal Maritime Cargo Transport (SIITIM) Project
This project is aimed at developing a digital ecosystem to optimise intermodal transport planning and improve cargo traceability. The platform is at a very advanced stage of development: internal data has been integrated, portal user roles and alert and notification systems have been defined, and a dynamic consultation map has been developed.
Digital Twin (Digital Twin For Green Shipping - DT4GS)
Baleària continues to make progress on this project in collaboration with 20 other companies. Its main objective is to create a virtual replica that will allow decarbonisation options to be studied on one of the company's ferries. This project focuses for reducing CO2 emissions in maritime transport, defining solutions and aiming for a zeroemissions ro-pax vessel in the future.
On the other hand, with regard to the Next Generation Funds, it should be noted that work continues on the Zero Emissions Vessel in Port Project (BUCEMTO) – Cap de Barbaria electric ferry, and that the Green Catamaran project (TAXOVER) –Margarita Salas Fast ferry, has been satisfactorily completed and the economic report delivered. As for the Horizon Europe funds, work continues on the Green Hysland project (technicaleconomic study of mixing up to 25% hydrogen with natural gas) and the Green C Ports Project (vessel sensorisation) is now complete.
ENVIRONMENTAL POLICY
Baleària establishes protocols to prevent possible serious damage to the environment.
The company is prepared for contingencies: it has emergency control plans in accordance with its Environmental Management System and SOPEP plans to prevent pollution at sea. In addition, it conducts regular exercises on possible environmental emergencies. It also carries out various internal audits to ensure that procedures are rigorously followed.
Water
The company does not use recycled water and has no resources in place for water recycling. In 2024, 79,100 m3 ofwater was consumed, 92% being on board ships.
Electricity
Solar panels have been installed in the Dénia maritime station and the existing ones in Valencia have been extended. The use of renewable energy helps to reduce CO2emissions. Electricity consumption in port facilities was 1,674 MWh, 31% of which came from renewable sources (in 2023 it was 8%).
Waste management
Baleària is committed to minimising waste by using products and processes that reduce ecological impact. Specific measures include the use of biodegradable singleuse utensils and the preference for eco-friendly cleaning products. The shipping company has a detailed on-board waste management plan in accordance with the Marpol Convention, which establishes regulations for waste generated by ships as a result of their activity.
Baleària does not carry out any waste treatment at its facilities. It regularly discharges sewage, oily and solid wastes from its vessels to onshore facilities and these wastes are subsequently treated by duly licensed managers in dedicated facilities.
Circular economy
Baleària selectively separates the waste generated both on board and in the offices and delivers this to companies specialising in waste management.
59.7% of the waste generated by Baleària has been recovered. The rest has been treated in accordance with Marpol regulations.
Certificates and labels
In 2024, the company obtained the Ecovadis Committed label, which certifies its commitment to ESG indicators. In addition, Baleària is the first Spanish shipping company to obtain the prestigious Green Marine Europe eco-certification, which it has been awarded since 2023.
The shipping company is also ISO 9001:2015 and 14001:2015 certified, covering vessels, maritime stations and ship consignments, and has the State Ports Quality Reference for the entire company. The Valencia maritime station has an energy efficiency certification (ISO 50001:2018) and an Environmental Good Practice Agreement with the Valencia Port Authority.
THE BALÈARIA FOUNDATION AND ITS CONTRIBUTION TO THE ENVIRONMENT
For years, the Baleària Foundation has been collaborating with organisations, universities and scientific projects linked to the environment. These collaborations include those with the Mediterranean Institute for Advanced Studies, the Spanish National Research Council, the University of the Balearic Islands, the University of Valencia, the organisation GEN-GOB Eivissa and the Malaga Oceanographic Centre.
In 2024, through its foundation, Baleària collaborated on projects such as the collection of wildlife data in Menorca, the monitoring of seabirds in Benidorm, various studies on pollinators in Ibiza and Formentera and on the presence of the blue crab in Ibiza. It also contributed to biological controls of the pine processionary caterpillar in Formentera and to campaigns for projects linked to Posidonia seagrass meadows, habitats and marine reserves, as well as to the production of a guide to the flora and fauna of the Campo de Gibraltar coastline and a census of birds of prey in Morocco.
Baleària, together with Marina de Dénia and the company Ocean Ecostructures, is planning to install 18 micro-reefs to regenerate the marine
biodiversity of the city's port and create a cleaner, healthier and more resilient environment.
In addition, the shipping company is making its fleet available to scientific teams from the Pelagicus and Nereide associations, which use the ships to carry out sightings and monitoring of cetaceans and other marine species in the Mediterranean and the Strait of Gibraltar, respectively. For years, the company has facilitated the transfer of injured marine animals, especially turtles, to the Palma Aquarium recovery centre (Mallorca) and in 2024 it took part in other initiatives related to the nesting of these marine animals.
Finally, the Baleària Foundation worked with the CIMA Foundation to offer the online course ‘Biodiversity Conservation and Risk of Collision’ to train ship crews and make them more aware of the need to minimise the risk of collision. And, together with the Dénia Obesmar (Observación y Estudio del Mar) organisation, the company launched the ‘Un mar sin plomo’ (A lead-free sea) campaign to collect the fishing weights that pollute the coastline and turn these into a sculpture.
COLLABORATING ORGANISATIONS
Baleària is a member of several organisations aimed at improving the environment. It works collaboratively with all of them and actively participates.
Asociación Valenciana de Empresas de Energía Renovable (Avaesen). An organisation that brings together companies and organisations dedicated to developing and using renewable energy, energy efficiency and clean technologies in the Valencian Community.
Alianza Net-Zero MAR. A non-profit organisation that promotes the decarbonisation and electrification of Spain's maritime and port sector. Chaired by Baleària.
BatteryPlat. Technology platform for energy storage innovation.
Comunidad por el Clima. Platform for sharing good practices and tools for reducing greenhouse gas emissions.
Fundación Empresa y Clima. Non-profit organisation working for corporate leadership and engagement in the fight against climate change.
Gasnam – Neutral Transport. Technological platform driving sustainable gas transport in Spain and Portugal. Baleària is one of the developers of this platform.
Iniciativa Española de Empresas por la Biodiversidad. A publicprivate collaboration platform that seeks to involve the business sector in improving and maintaining biodiversity.
Instituto Tecnológico de la Energía. An international benchmark in the development of technological solutions to help companies move towards an energy-sustainable world.
Each year, the shipping company takes part in the COP, the United Nations World Climate Summit, through the Company and Climate Foundation. In 2024, the head of Energy Transition at Baleària took part in the day dedicated to transport, explaining the shipping company's roadmap towards complete decarbonisation by 2050.
COMMITMENT TO PEOPLE
THE CHALLENGE OF BECOMING A BENCHMARK EMPLOYER BRAND
Talent management and policies that favour a good working environment make Baleària one of the best companies to work for in Spain, as endorsed by the Top Employer seal.
CREATING JOBS AND OPPORTUNITIES
Baleària's success is based on the performance of its team, characterised by its cohesion, customerorientation and fully committed inspirational leaders.
Baleària takes care of both its customers and the people who work for the company. Thanks to the professionalism, performance excellence and motivation of its employees, the shipping company has cohesive and committed teams, aligned with corporate values and dedicated to ongoing improvement.
At Baleària, job creation, especially in the local communities where it operates, is a priority and a key responsibility. As an economic driver for the regions, the company wants to become a benchmark employer brand and is committed to promoting professional development in a dynamic
Top Employer 2024: a benchmark employer brand in Spain
environment, where every day is an opportunity to grow and improve. One of the major challenges currently facing the maritime sector, including Baleària, is finding suitable candidates to work in the fleet. The shortage of qualified personnel to occupy certain specialised positions poses a significant challenge that the company is working to overcome from within.
In addition to offering job stability, Baleària provides its employees with personalised training plans and an environment where diversity, gender equality and inclusion are understood as elements that enrich the company. With the aim of attracting, developing and retaining the best talent, Baleària promotes policies that strengthen and empower its teams, attends employment forums and collaborates with public and private institutions.
For the first time, Baleària has been recognised with the Top Employer seal, certifying it as one of the best companies to work for in Spain. The seal is endorsed by the Top Employers Institute and recognises the policies and practices that favour a good working environment and initiatives linked to talent management. The company is the only passenger and freight shipping company to currently hold this accolade.
EMPLOYEE PROFILE
Baleària has generated a large number of jobs this year, bringing the number of people employed in the high season to 2,600. The annual average was 2,200 employees, 10% more than the previous year. In line with its diversity and equality strategy, 4% more positions of responsibility at Baleària are now held by women. In addition, there have been 106 internal promotions, reflecting the company's efforts to recognise performance, promote internal talent, and offer opportunities for professional growth within the organisation.
Diversity, equality and inclusion
Baleària has an Equality Plan, updated in 2023, which includes the measures necessary to promote equal treatment and opportunities for women and men in all areas of the company. The company understands diversity as a source of wealth and innovation. That is why, through its diversity and inclusion policy, it internally promotes actions in this area. Baleària's signing of the Fundación Diversidad Diversity Charter, which is approved by the Ministry of Equality, is one such initiative. Similarly, to ensure team cohesion, Baleària has a two-way internal communication channel that facilitates cohesion and promotes staff pride in being part of the company.
Job creation
2,600 employees +4%
Job
stability
96% permanent contracts*
* among the company's direct employees in Spain
Diversity
60 nationalities
The majority of the company's employees are Spanish (64%), followed by Hondurans (10%) and Moroccans (9 %)
In the fleet, 55% of crew members are EU nationals
FLEXIBILITY AND EQUALITY: THE BALEÀRIA MODEL
Baleària encourages a good work-life balance and promotes equal treatment for men and women. –
Additional employee benefits
Baleària offers its workers a series of benefits to promote stability and wellbeing among the workforce.
– Flexible working hours for most employees, whenever the nature of the job allows it, to facilitate a good work-life balance.
– Flexible salary programme that allows part of the gross salary to be used to take advantage of services with tax benefits.
– Collective bargaining agreement in the Fleet with a target-based pay system, enhanced boarding conditions, and professional development opportunities for crew members.
– BeWellness programme to boost employees' overall well-being. This includes free physical activity classes as well as online courses to improve physical and mental health.
– Employee travel benefits, allowing travel on Baleària vessels along with other discounts and perks.
Employee salaries
Baleària takes into account the level of responsibility, the functions performed and the professional experience of each employee when determining the salary policy. It is governed by the principles of internal equality and values the role of each individual. In addition, the fixed salary is complemented by variable remuneration based on targets, which stimulates both the individual and collective efforts with the aim of improving competitiveness, efficiency and productivity.
Baleària promotes equal treatment between men and women, so that there is no wage discrimination. To analyse the pay gap, the average salaries of men and women within each professional category are compared. At Baleària, the pay gap does not exceed 9 % in positions of equal value.
In addition, the company has strengthened its commitment to team well-being by increasing employee salaries by 3.1 %, aligning them with the rate of inflation to guarantee their purchasing power and motivation.
A PERSONALISED ITINERARY FOR EACH EMPLOYEE
On-boarding Plan
The On-boarding Plan is an experience that is fundamental to the success of new recruits: it is adapted to the needs of each individual to ensure that they have the tools and knowledge necessary to integrate effectively and develop to their full potential
New on-shore employees visit the fleet to gain a more detailed insight into maritime operations and learn about Baleària's impact on the
Female talent programme in the Fleet
Baleària has drawn up a plan to promote female talent in the fleet, a sector that is generally very male-dominated. Women currently represent 16 % of the total crew. However, this percentage rises to 30 % in the case of On-Board Services, while in Bridge and Engine room positions, a sector facing a shortage of professionals and offering many landbased job opportunities, women represent only 5 %.
Baleària has set a goal to increase the percentage of women in Bridge and Engine room roles to 15 % by 2030. To achieve this, it has developed a programme aimed at female Bridge and Engine room students, a communication and dissemination plan and is coordinating with organisations like Wista International and the International Maritime Organisation.
customer experience and the value chain. After the first month in the company, the on-boarding is evaluated, both by the recruit and by their manager. Based on this feedback, the effectiveness of the programme is evaluated and improvements are implemented. In 2024, this process received an average rating of 8.5.
Baleària also conducts exit interviews with people who decide to end their time at the company. This provides valuable information for identifying areas that can be improved.
Performance Management System
The Performance Management System has become a cornerstone of the strategy for aligning employee competences, behaviour and objectives with the company's values and goals. This system promotes the team's professional development and strengthens Baleària's corporate culture.
The evaluation system is tailored to the various workforce profiles. For shore-based staff, annual evaluations are complemented by an interview that encourages communication and ensures that the employee receives regular constructive feedback. In the Fleet, evaluations are carried out at the end of each on-board period or twice a year, depending on the profile. This system reinforces the recognition of individual effort and promotes professional growth and commitment to the company's objectives.
Training
Baleària supports the professional development of its employees through the Baleària Business School (EdEB), which promotes talent and innovation within the organisation. The EdEB has an extensive catalogue of online courses, which has been expanded again this year to include 140 training programmes.
This approach allows employees to acquire new skills and update their knowledge, contributing to the ongoing strengthening of professional excellence in the company.
Trainees
Baleària promotes the integration of talent into the labour market, offering people with no experience the opportunity to train and develop professionally through paid placements.
134 trainees (+9.8 %)
Training hours
32,000 Investment
546,000 € Score 9.2
Featured Training in 2024
Students from Morocco
Baleària has continued the training and employment generation programme aimed at Vocational Training students in Morocco, promoted together with several Spanish organisations and in collaboration with the Moroccan government. This year, a group of 20 students were trained during a one-month on-board stay to enhance their employability and workplace insertion opportunities.
Fleet Training
The Fleet department launched Sharp & Safe, a campaign aimed at improving key aspects of onboard safety and management, such as vehicle fire prevention, cybersecurity, and new environmental regulations. Courses aimed at the crews of gas and electric boats are a highlight of the compulsory maritime training.
Advanced Programme in Management Skills
With the participation of 90 managers, this 52-hour classroom programme, developed in collaboration with EDEM (Escuela de Empresarios), represents Baleària’s commitment to leadership and managerial excellence. In addition, in collaboration with EDEM, EMBA programmes have been incorporated aimed at developing people with high potential, to prepare the next generation of company leaders.
2024 Convention
Language training
In 2024, an online language school was made available to all Baleària staff, enabling them to learn up to 12 languages.
Cybersecurity training
An online course designed to detect and combat this type of cybercrime, such as financial fraud that poses a threat to businesses.
Artificial intelligence
On-site training to take advantage of the benefits and opportunities offered by artificial intelligence in business management and development. New courses on this subject have also been added to the e-learning platform open to all staff.
Personalised career plans
Baleària reasserts its commitment to talent with career plans adapted to the needs and aspirations of high-potential employees, ensuring their professional development in line with the company's strategic objectives.
Baleària's internal meeting to take stock of the year took place in Melilla and was attended by 450 employees, representing all locations and ships. As well as promoting team cohesion, the year's results were analysed and future challenges were set. At the beginning of this year, the company held the annual meeting of captains, chief engineers, officers and inspectors to define the strategic lines.
COMMITMENT TO SOCIETY 5
20 YEARS OF THE BALEÀRIA FOUNDATION
Two decades of collaboration with public and private institutions raising awareness and promoting care for biodiversity, fostering cultural exchange between artists from different regions and supporting numerous athletes.
MISSION AND VALUES
Baleària meets society's maritime transport needs, offering a highquality eco-friendly service. To achieve this, the company continuously improves its services, invests in innovation, builds new vessels, and opens new routes that contribute to the progress and development of the regions it serves. –
Responsibility
It responds to the legitimate expectations of its stakeholders with integrity and loyalty to its values.
Sustainability
It contributes to the balance between people, the planet and prosperity in the present without endangering the future.
Innovation
It promotes creativity and growth, considering it a success when value is generated for both the business and its stakeholders.
Solvency
The company earns stakeholders' trust by being exemplary in fulfilling its commitments.
ETHICS AND COMPLIANCE
Risk management is fundamental for Baleària. Continuous oversight of operations means the company can ensure safety and responsible decision-making. For this reason, the shipping company has an Ethics and Compliance Committee, an official and autonomous body with the power to take the initiative, monitor and act with complete independence when carrying out its duties. These functions include monitoring, analysing and assessing criminal, environmental, ethical and reputational risks, promoting corporate culture and implementing business intelligence. The aim is not only to ensure that the company complies with internal and external regulations, but also to act responsibly, seize opportunities and ensure its contribution to sustainability as well as its long-term viability.
To this end, Baleària has its own Comprehensive Ethics and Compliance Management Model, whose tools include the Ethics Channel The Ethics and Compliance Committee manages and monitors communications
received through this channel, leads investigations into reported noncompliance and proposes incentivising, remedial or disciplinary measures. The channel is available through the corporate website. A total of 40 incidents were communicated and resolved in 2024.
New Code of Ethics and Conduct
In 2024, Baleària updated its Code of Ethics and Conduct, which has become a transversal document, aligned with the company's core values and which is mandatory for all the company's personnel and stakeholders. An action plan has been implemented to ensure the new code is effectively communicated and applied. This will encourage the code’s adoption by the workforce, helping to strengthen the company's organisational culture and increase the trust capital.
An open and participatory dialogue
Baleària develops innovative and participatory solutions via its materiality analysis. This analysis is achieved thanks to ongoing, open and effective exchanges of ideas with stakeholders, who contribute their perspective and enable advances that improve both competitiveness and the services provided. Thanks to this dialogue, the company is aware of the views and concerns of interested parties and incorporates their input into the corporate strategy. Some priority issues identified by the materiality analysis are risk management, customer relations, equality and diversity, and the circular economy.
BALEÀRIA FOUNDATION
The Baleària Foundation, set up in 2004, is the cornerstone of our social and environmental commitment. Its purpose is to enrich people's quality of life through culture, the environment, solidarity and sport. Over its 20-year history, the foundation has become the social heart of the company, serving as a bridge to bring its values and mission to the regions where the company operates.
Since 2004, the Baleària Foundation has built meaningful partnerships with hundreds of public and private institutions to promote
environmental awareness and conserve biodiversity, foster cultural exchange among artists from different regions, and support numerous athletes. In 2012, the Foundation joined the Spanish Network of the UN Global Compact for the Environment, aligning its mission with the United Nations' Sustainable Development Goals (SDGs). Currently its activities are structured around four key areas: Baleària Cultural, Baleària Social, Eco Baleària and Baleària Saludable.
Actions
577
Investment in partnerships and sponsorships
940K € Collaborating entities
374
20 Years of Social Impact
To mark its 20th anniversary, the Foundation has published the book Inspiració Mediterrània, featuring contributions from various writers, and organised two special events: a trip to the Cura Monastery in Mallorca—where the Foundation was officially launched two decades ago—and a celebration at Baleària’s headquarters in Dénia.
In 2024, several organisations recognised the Foundation’s work, including the Scouts of Ceuta, the Real Club Marítimo Melilla, and the Consulate of the Kingdom of Morocco in the Balearic Islands.
Baleària Cultural
In the field of culture, the Baleària Foundation carries out its own activities in the spaces it manages and it collaborates with associations and cultural events.
Llonges de la Cultura
Cultural activities
Project collaborations
In 2024, the Foundation organised 47 exhibitions in the Llonges de la Cultura, a network of spaces that it owns or in which it collaborates with other organisations or individuals. In these venues it facilitates cultural exchange between the different regions where Baleària is present.
Artists from different disciplines and techniques (painting, sculpture, collage, photography, ceramics, illustration, textile art, etc.) take part in them. They all come from the various regions where the shipping company is present.
There have been 25 collective exhibitions, including ‘Quasi 80 Homenatge a Joan Castejón’, ‘Els Viatges del Baleàrics’, ‘Mirades de Dona’ and ‘Abstraccions’. Of the 22 individual exhibitions, highlights included those by the artists Mariia Zhurykova, Pep Guerrero, Anna Rielora, Rafael Hernández, Cristina Alabau and Zulema Bagur.
More than 34,000 people visited the exhibitions, in which more than 300 artists participated.
Baleària Health Other cultural projects
Together with the AndalusianMoroccan Friendship Association -Ibn Rushd Forum (AAAM), the Foundation published Matria, a monthly collection of poetry anthologies by contemporary Spanish and Moroccan women. The anthologies, which have been illustrated by artists from both countries, have been distributed on the Baleària ferries linking Spain and North Africa.
The Foundation has also promoted various initiatives to bring art closer to the community, such as the second edition of Persianes amb Art, where the shutters of several homes in Els Poblets (Alicante) were painted. Additionally, it has facilitated the mobility of over fifty musicians, groups, and bands to boost live music performances. It has also collaborated with almost forty theatre, film and dance festivals and events.
Collaboration and space-sharing are also essential aspects of the Foundation's work. This year, it opened the doors of its venues in Dénia and Ibiza for cultural activities, including the Festival de les Humanitats de Dénia. It has also promoted a monthly literary recommendation by the writer Ferran Torrent, celebrated the Year of Estellés with a poems by the Valencian writer being performed, and participated in the Ibiza Art Route, or Algaida Art, among other things.
The Baleària Foundation aims to promote health and sport through collaborations, agreements, and sports sponsorships, as well as by organising activities related to these two areas. Additionally, it runs a programme of monthly hikes for Baleària employees and their families, combining the pursuit of a healthy lifestyle with cultural activities.
Baleària Solidarity
One of the aims of the Foundation is to promote initiatives that improve the quality of life of groups at risk of social exclusion, as well as boost equal opportunities, interculturality, integration and diversity. Among its projects to support the workplace inclusion of people with functional diversity, highlights include hiring caretakers in three exhibition halls and collaborating with a project that promotes the participation of this group in municipal sports activities.
Volunteering
Baleària has a team of corporate volunteers who organise a number of activities every year. In 2024, highlights included a blood drive, concerts and charity raffles, and food and toy collections.
Eco Baleària
The Foundation's environmental commitment takes the form of activities that help to safeguard the environment and combat climate change. More information on page 48.
Solidarity with those affected by the DANA storm
Several towns affected by the torrential rain and flooding caused by the DANA storm received support from the Baleària Foundation, which facilitated the transfer of emergency, security and health teams, as well as machinery and basic necessities. In addition to immediate humanitarian aid, Baleària provided financial support to directly affected employees as well as granting leave and facilitating travel so that people from outside the Spanish mainland could be reunited with their families. Baleària's cargo customers who suffered significant damage also received financial assistance from the company, which provided them with vans and equipment so that they could continue working. The shipping company also adapted the timetables of the ships on the routes from Valencia to ensure that all passengers and vehicles could get on board. The Foundation's team of volunteers organised various initiatives to help alleviate the disaster, collecting basic necessities and helping with cleaning tasks in the affected area.
AWARDS
ESG Shipping Awards 2024
Baleària received a silver mention in the ‘Environment Leader’ category of the ESG Shipping Awards, in recognition of the Cap de Barbaria electric ferry.
Gasnam
Baleària was awarded the GasnamNeutral Transport Innovation Prize, in recognition of its leadership in decarbonisation.
FINE
The electric ferry Cap de Barbaria was recognised as the outstanding vessel of 2023 at the FINE Awards for the national maritime sector.
AINE
The Cap de Barbaria electric ferry was awarded the prize for the 'Most Outstanding Shipbuilding Construction of 2023' by the Spanish Association of Naval and Ocean Engineers (Asociación de Ingenieros Navales y Oceánicos de España).
Alicante Chamber of Commerce
Baleària received the Business Innovation Award for the Cap de Barbaria electric ferry and the Fleet Control Tower project.
Gaceta del Turismo
The specialised media Gaceta del Turismo recognised Baleària's commitment to sustainability in its annual awards.
Tourinews
The tourism media outlet Tourinews awarded Baleària the Innovation Award for its leadership in Spain’s emissions-free shipping strategy.
Alicantinos
The media outlet TODOAlicante awarded the Alicantinos Award to the company for its sustainability projects.
Alliances and participation
Baleària's social participation is reflected in its cooperation with organisations and bodies with which it shares values and a vision centred on sustainability. The Baleària Foundation currently collaborates with 41 organisations, including professional and trade associations, companies and non-profit organisations related to tourism, the environment, research and technology. Through these alliances, the shipping company is actively involved in initiatives that contribute to social development in different areas, with a medium- and long-term focus.
SUPPLIERS
Baleària's commitment to sustainability covers its entire supply chain. The suppliers it works with are, in this sense, a cornerstone of the business. The shipping company has a procedure in place to evaluate new suppliers and determine whether they comply with internal regulations and codes of conduct and ethics In the event that a supplier does not meet the requirements, they are given the opportunity to correct the areas of non-compliance in order to promote high quality standards and align their practices with the company's values. Annual evaluations of all suppliers are also carried out in order to identify areas for improvement. Over the last year, Baleària has updated the supplier evaluation and assessment system that will be in force in the coming years.
This rigorous selection and approval of suppliers contributes an ethical perspective and, at the same time, generates significant benefits. Baleària plays a key role as an economic driver in the regions where it operates. Its firm commitment to local suppliers with whom it shares core values not only strengthens local economies but also reinforces the company's commitment to sustainability in all its operations.
Most of the purchases and work carried out by third parties takes place within Spain and, specifically, in the areas where Baleària has offices. Mutual benefit and ethical and transparent relationships ensure continuous improvement as well as strengthening efficient and sustainable business.
70 % out of a total of 8,954 (+11 %) suppliers are local
Baleària's commitment to local suppliers not only boosts local economies but also strengthens the company's commitment to sustainability.
About this report
This Sustainability Report aims to provide a transparent and accurate view of the performance of the entire Baleària Group, focusing on the organisation's impact in the economic, environmental and social spheres, as well as creating long-term value for its stakeholders. On this premise, the document covers all those aspects and initiatives that are considered relevant both internally and externally.
The content of this report covers the period of the company's financial year (November 2023 to October 2024). The Non-Financial Information Statement (NFIS)
of Baleària Eurolíneas Marítimas S.A.U. was published in February 2025, and covers the same period. The NFIS provides further details of some of the aspects covered in this Sustainability Report.
Both are available at www.balearia.comand are based on the European CSRD (Corporate Sustainability Reporting Directive) through which the European Commission seeks to improve sustainability reporting by companies on their social and environmental impact.
For any questions about this report, please contact comunicacion@balearia.com
Credits
Published by: Baleària, February 2025
Photographs: Baleària archive
Printing: D Print
Paper type: Arena Extra White 120 g