Síldarvinnslan, one of Iceland’s largest fishing companies, has announced that it will take two of its fresh-fish trawlers out of service.
The move is part of a cost-saving plan designed to address shrinking quotas, rising costs, and increasingly challenging industry conditions.
Two ageing vessels lay up
The company will stop operating the trawlers Gullver NS 12 and Jóhanna Gísladóttir GK 357. The ships, built in 1983 and 1998, have been part of the fleet for decades.
Around 40 crew members will be affected. Some are expected to move to other vessels, including the newer trawler Birtingur NK, which Síldarvinnslan purchased late last year.
Difficult but necessary decision
Chief executive Gunnþór Ingvason said the decision was painful but unavoidable.
“Choices that mean job losses are always tough. However, these steps are necessary to maintain the company’s long-term strength. The business environment has changed, and more quota cuts are likely. We are retiring vessels that are reaching the end of their service,” Chief Executive Gunnþór Ingvason said.
The crews will remain employed for six months, as both vessels will keep fishing during the notice period. Once Birtingur NK is ready, the company will operate three pelagic vessels, three fresh-fish trawlers, two longliners, one freezer trawler, and one small boat in hook-and-line fishing.
Industry under pressure
The move highlights the challenges facing Iceland’s fishing industry. Companies are struggling with lower quotas, high fuel and wage costs, and global market pressures.
At the same time, consolidation and fleet modernisation are helping some firms; smaller and older vessels are being phased out.