Shame about the ferry service

Dear Sir, tt was with dismay that I read in today's Bulletin that Buquebus has cancelled its Palma-Barcelona service especially as I have phoned Balear Express, the operator of the Palma-Sete service to learn that their service is also withdrawn; further information is to be available around September 25 but its continuity seems to be in doubt! Is this because Trasmediterranea service is competitively priced that no others can compete or is there some other reason? Last October there was a five day waiting list to get the first available cabin (in either class) on the Trasmed night ferry from Barcelona to Palma.