The National Markets and Competition Commission (CNMC) has given the green light in a second phase to the acquisition by Baleària of certain assets of Armas-Trasmediterránea in the Alborán area, although it conditions the operation on compliance with several commitments and conditions due to the risks detected for competition.
This operation is part of the three concentrations proposed between the two shipping companies, while the other two —the South Peninsula-Strait and Peninsula-Canary Islands routes— already obtained "green light" at the end of March, also in a second phase, and with conditions in the latter case.
As the body has detailed in a statement, the authorization is not yet final, as it will be sent to the Minister of Economy, Trade and Enterprise, Arcadi España, who will have to decide whether to submit it to the Council of Ministers. The latter will be able to rule considering criteria of general interest other than the strict defense of competition.
In relation to the risks in the Alborán area, the operation affects the market for regular maritime transport services of passengers and rolling cargo between the South Peninsula-Melilla area and on the Almería-Nador route.
In the case of the connection with Melilla, the CNMC has pointed out that Armas' exit from the market would lead to a monopoly situation in the regular maritime transport of both rolling cargo and passengers, the latter being a service subject to Public Service Obligations (PSO).
Thus, the risks identified by the regulator focus on a possible reduction in quality and/or frequencies, an increase in fares, and the disappearance of competitive pressure in the market.
Faced with this scenario, the commitments offered by Baleària include price limitations on the South Peninsula-Melilla routes, maintenance of the quality levels of the services provided by Armas, investment and modernization of the acquired fleet, improvement of the user experience, as well as environmental sustainability and energy transition measures, along with the reinforcement of corporate culture.
For the CNMC, these commitments contribute in part to mitigating the detected problems, but it considers them "insufficient" due to their limited duration and because they do not resolve the specific risk of price increases on the connection with Nador.
For this reason, the body has imposed a limitation on price increases for the transport of cargo and passengers during holiday periods not subject to maximum fares on the South Peninsula-Melilla routes, for five years, renewable for another five additional years. Likewise, the current quality conditions of the service must be maintained.
The restriction on price increases also extends to the Almería-Nador route, through a system similar to the one proposed by Baleària for the South Peninsula-Melilla routes, for five years renewable for another five, provided that the buyer operates alone on this connection or there is only one competitor. This obligation will also include the maintenance of the current service conditions.
Finally, the CNMC considers the possibility of reviewing these obligations if significant changes occur in the market configuration. In the case of routes to Melilla, this could include, for example, that passenger transport during holiday periods is subject to maximum fares or the entry of a new operator.