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Salmon major Bakkafrost reported a total operational EBIT of 128 million DKK (17.1mn EUR) in the third quarter of 2026, a substantial jump from the 22mn DKK (2.9mn EUR) recorded during the same period last year. Strong biological performance in the Faroe Islands and a doubling of earnings in the fishmeal, oil, and…
Faroese shipping operator Navigare Shipping is positioning itself for the future following a massive DKK 500 million (€67 million) modernization strategy, highlighted by the rapid expansion of its fleet. The company reached a pivotal milestone in late October when Royal T Shipyards in the Netherlands officially handed…
Atlantic Airways has finalized an agreement with Airbus for the purchase of two new Airbus A320neo aircraft, marking a milestone in the airline’s long-term strategy to operate a fully standardized, next-generation fleet. The new aircraft are scheduled for delivery early next decade and bring the airline’s total…
In a welcome development for the Faroese distant-water fishing sector, the joint Barents Sea cod quota is roaring back with a 14-percent increase to 325,000 tonnes for 2027. The surge reverts a six-year streak of regulatory cuts, injecting a fresh wave of optimism into the North Atlantic fishing industry. The…
BEIJING — The Government of the Faroe Islands has taken a major step toward establishing an independent free-trade corridor with Asia. In an official ceremony in Beijing, Bárður á Steig Nielsen, the Faroese Minister of Foreign Affairs and Fisheries, signed a new memorandum of understanding (MoU) alongside Chinese Vice…
Faroese shipping company Smyril Line has officially taken delivery of the Akranes, the second of its two brand-new, custom-built ro/ro cargo vessels commissioned from Chinese shipyard CIMC Raffles. The vessel is scheduled to begin its maiden voyage from the shipbuilder’s Yantai construction base toward the Faroe…
The Faroese government is actively advancing its trade relations with China, preparing a preliminary memorandum of understanding designed to serve as a stepping stone toward, ultimately, a comprehensive free-trade agreement. The Minister of Foreign Affairs, Bárður á Steig Nielsen, was scheduled to consult with the…
The Faroese pelagic fishing fleet is looking toward an expanded 2027 season, following a substantial upward revision in recommended catch limits released by the International Council for the Exploration of the Sea (ICES). Alongside preparing for these scientific updates, the Faroese government is finalizing its…
Faroese maritime engineering firm KJ has officially delivered a newly constructed utility catamaran, the Cooke Challenger, to salmon farming giant Cooke Aquaculture. The vessel is destined for operation in the demanding waters of Orkney, Scotland, and will be homeported in Kirkwall. The delivery underscores a…
The North Atlantic aquaculture tech sector is undergoing a major wave of consolidation with Italy’s private equity investor Ambienta acquiring a majority stake in Faroe Islands-based GroAqua. The transaction folds GroAqua into a newly established, Norway-headed aquaculture technology group alongside three Norwegian…