There are no ferry's at all, only ferries run from Funchal to Porto Santo and during the summer from Funchal to Gran Canaria
There is indeed a ferry service between Portimao (Portugal) that makes the journey to Funchal, and onwards to Tenerife and Gran Canaria. This service I believe began in early 2008 and looks like being continued through to 2009. There's some indication that this service will at some point be extended to Agadir. Check out Naviera Armas' website
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