Snarfrost has taken over the vessel Katrin Jóhanna as part of a wider split within the Faroese fishing company Kinnfelli, according to reports on 22 April.
The move follows internal disagreements in Kinnfelli, which is now being divided into two separate entities.
Ownership split and quota division
Kinnfelli previously held a development quota linked to Katrin Jóhanna. The company itself was jointly owned by Snarfrost, linked to the Henriksen family in Sørvágur, and the company Á Mølini, owned by Hjarnar and Árni Dalsgaard.
Under the new structure, Snarfrost acquires the vessel along with 50% of the quotas. The remaining 50% will be transferred to a new company controlled by Á Mølini.
New company forming around pelagic quotas
At the same time, a separate consolidation is underway in the pelagic sector. Three smaller companies — Ango, Á Mølini and Gráastein — are preparing to merge into a single entity.
The new company plans to operate with one vessel, Jupiter, which will fish the combined quotas.
As part of this process, existing vessels such as Ango and Birita are expected to be sold.
Wider restructuring in the Faroese fleet
The developments reflect broader changes in the Faroese pelagic fleet. Industry sources indicate that companies are seeking scale by combining quotas and vessels.
The split of Kinnfelli and the parallel merger activity suggest a shift towards fewer, larger operators with concentrated quota ownership.
No financial details have been disclosed.