The Icelandic freezer trawler Tómas Þorvaldsson GK 10 landed catches worth about EUR 35 million in 2025, according to figures published this week. The result reflects strong market prices across most species during the year.
The vessel is operated by Grindavíkur Seafood, whose chief executive says price rises were the main driver behind the high catch value.
Strong prices lift catch value
Catch value for Tómas Þorvaldsson reached ISK 5.2 billion in 2025, or about EUR 35 million.
“Market conditions were very favourable for us, with large price rises in almost all species,” said Gunnlaugur Eiríksson, chief executive of Grindavíkur Seafood, according to Icelandic media outlet Fiskifréttir.
He described the year as positive overall, after widespread increases in export prices.
Cod and haddock prices surge
According to Gunnlaugur, cod prices rose by about 50% from the end of 2024 to the end of 2025, mainly due to lower catches. Haddock prices increased by around 60% over the same period
He said US tariffs made sales into the US market more difficult, while large UK buyers reported weaker demand. Britons are eating fish and chips less often, he noted.
Short-term gain, long-term risk
Gunnlaugur warned that such sharp price rises may hurt demand over time.
“This is positive in the short term, but not very good in the long term,” he said, adding that the full impact on consumption may only become clear later in 2026
The UK remains the company’s largest market, while demand from Europe has grown since trade restrictions on Russia were introduced.