Icelandic Fisheries Agency allocates fishing quotas for upcoming year

The Icelandic Fisheries Agency has allocated fishing quotas for the upcoming fishing year starting on Sunday, granting nearly 10% of the total catch limit to Brim, which holds the highest share among five companies that received more than 5% of the total.

A total of 320,000 tons of cod quota has been distributed for the next fishing period, reflecting a slight increase from the previous year. In this allocation, permissions were granted across 344 vessels owned by 274 entities. The total quota for all species amounts to approximately 445,000 tons, including just under 320,000 ton-equivalents of cod.

To clarify, a ton-equivalent of cod is a measure of the catch volume or quota for a specific species, valued equally to one ton of cod, with each species assigned a specific conversion factor. The allocation for haddock is about 38,000 ton-equivalents, representing a reduction of 16,000 from last year, primarily due to a decrease in its conversion factor from 0.93 to 0.64.

Brim’s share stands at 9.55%, followed by Samherji at 8.72% and Ísfélagið at 6.98%. Fisk Seafood and Þorbjörn hold 6.10% and 5.43%, respectively. Two vessels have been granted more than 10,000 ton-equivalents: Sólberg ÓF 1 from Ísfélagið with 10,305 ton-equivalents and Guðmundur í Nesi RE 13 from the Reykjavik Fishing Company with 10,006. Following them, Drangey SK 2 from Fisk Seafood received 6,786 ton-equivalents.