Foreign companies, backed by investment capital, are said to pose a threat to nautical businesses in Mallorca and the Balearics.
An example of this is at the Cuarentena Dock in Palma, which has 18,000 square metres for boats operated by charter companies. A Turkish multinational, D-Marin, acquired the dock's seventy berths for an annual fee of €2.3 million. This was half a million more than had been offered by the Mallorcan Grupo IPM.
Behind the Turkish company, which is actively expanding in Spain, is CVC Capital Partners, an investment fund with headquarters in Jersey and which is known in Spain for being an investment partner in La Liga.
The change in concession holder has resulted in some charter operators leaving the dock because of the increase in charges. The largest increase has been for berths for boats in transit. This has practically quintupled to €6,000 per month for a boat of some 12 metres.
Three companies have gone and taken a dozen boats with them in seeking a less expensive alternative. One of those still there is Pepe's Charter, whose owner explains: "I had to sell one of my boats because paying 72,000 euros a year is obviously not worth it."
He and others suspect that D-Marin is driving up prices with the aim of ultimately bringing in its own boats or those from partner companies. "The Balearic Ports Authority (APB) says it will take into account the social aspect of the concessions, but in the end it does the opposite."
The president of the Alcudiamar marina, Bartomeu Bestard, recently raised this issue with the APB's president, Javier Sanz. "There is a lack of protection for local concessions against external operators, and this has become the law of the jungle. Whoever puts up the most money takes it." For Bestard, concessions have become an auction in which the highest bidder overrides the proven experience of local companies; the financial offer is the only truly decisive criterion. In his view, decisions should not be based on "reckless offers".
The APB announced a few days ago that it is to tender the management and operation of approximately 18,000 square metres at the Golondrinas Dock, most of which will be used for 95 berths for boats up to 20 metres in length. The Cuarentena companies believe that exactly the same thing will happen. The highest bid will come from a foreign company. D-Marin may well be a bidder, as it seeks to expand in the Balearics as a branding strategy.
Jaume Vaquer, president of the AENIB association of nautical businesses, suggests "it's possible they're not even interested in making it profitable: having a marina in Mallorca is worth more than the operation itself". But this could end up "wrecking everything" for island companies.