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LOCAL.FONews from the Faroe Islands

Wednesday, October 4, 2023

News from the Faroe Islands

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The International Review of Faroe Islands Industry and Trade

Export Value of Salmon, Whitefish Plunges Amid Fish Feed Bonanza
September 26, 2023
During the first seven months of 2023, the Faroes exported fish products worth 6.6 billion DKK (885 million EUR), more than a 6-percent increase on the corresponding period last year, which saw a total export value of 6.2 bln. DKK (832 mln. EUR). According to Statistics Faroe Islands, the largest growth was registered in […]
Pelagos Acquires PP Faroe Pelagic Factory in Kollafjørður to Become Faroe Islands’ Largest Operator of Freezing Plants
August 20, 2023
The shareholders of PP Faroe Pelagic, Kollafjørður, have signed a Letter of Intent with Pelagos, Fuglafjørður, on the transfer of the ownership of PP Faroe Pelagic, the two parties announced in a joint statement. “Subject to the fulfillment by both parties of relevant conditions outlined in the Letter of Intent, PP Faroe Pelagic and […]
Faroese Communities, Businesses Feel Pinch from Port Closure for Russian Fishing Vessels
August 8, 2023
Tiny Faroe Islands have at last caved in to shoot themselves in the proverbial foot by joining the band wagon of economic sanctions against Russia following the giant country’s invasion of Ukraine in 2022. After months of back and forth over the socioeconomic danger of embarking on an exercise in potential self-hurt, the Faroese […]
The Emerald Arrives: Havborg’s New Magnificent Trawler—video
July 17, 2023
Built in Turkey, the versatile trawler is equipped with processing plants for both shrimp and groundfish as well as fishmeal and fish oil. Part of a new generation of freezer trawlers for the Faroese, the Emerald is a top-notch fishing vessel in every respect with all the latest in technology, hardly matched by any […]
JT Electric Rebrands to GroAqua
May 17, 2023
Faroese aquatech supplier JT Electric and its overseas subsidiary Sterner AquaTech UK have rebranded to GroAqua, the company announced. “The rebranding combines the strengths from both companies to provide sustainable technology solutions to the aquaculture industry,” a statement from the rebranded company read. “The people and the products remain the same, with decades of […]
Faroese Fish Exports to Russia Bounce Back to Pre-war Levels
April 27, 2023
Although Faroese exports to Russia dropped significantly in the spring of 2022, following the Russian invasion of Ukraine in February that year, exports have since climbed back to their pre-February 2022 levels, according to Statistics Faroe Islands. Thus February of this year saw Faroese exports to Russia of pelagic fish species mackerel, herring and […]

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