Sikuaq Trawl A/S has applied for offshore cod quotas in both West and East Greenland for 2026, aiming to expand cod fishing as shrimp and mackerel quotas continue to fall.
The company says it is ready to invest in new onshore processing to support year-round operations if quotas are granted.
The application covers cod in offshore areas. It follows Greenland’s first formal commercial allocation of offshore cod quotas in 2025. The responsible minister will make final decisions after administrative review.
Investment tied to falling quotas
Sikuaq Trawl plans to install a dedicated cod-processing line aboard its combination trawler Svend C. The company says this would enable more efficient use of vessel capacity as quotas for shrimp and mackerel decline.
The Svend C is a multi-species trawler built in 2016. It does not hold quotas for Barents Sea cod or Greenland halibut, which the company says gives it flexibility to focus on Greenlandic cod stocks throughout the season.
New phase for offshore cod
Offshore cod in West Greenland is entering a new management phase. After several years of experimental fishing, 2025 marks the first year with a formal commercial quota allocated by Greenland’s government, Naalakkersuisut.
All operators, therefore, enter the fishery under the same regulatory and biological conditions. Sikuaq Trawl argues that more harvesting capacity is needed. In 2024, parts of the offshore cod quota were left unfished, reducing state income from resource fees.
Company ready to scale up
Chief executive Carl Christensen says Sikuaq Trawl is prepared to provide the necessary capacity while following science-based management and quota rules.
The company reported revenue of DKK 282 million and a post-tax profit of DKK 40 million last year. It states that this financial position enables it to support expanded cod operations as Greenland’s fisheries management evolves.