The Icelandic Market
The Icelandic Commercial Fishing Industry
Fisheries in Icelandic waters are characterized by the most sophisticated technological equipment available in this field and the Icelandic fishing fleet is one of the most modern in the world. This applies to navigational techniques and fish-detection instruments as well as the development of more effective fishing gear: radar, fish finders, global positioning systems (GPS) and computer controlled fishing gear are standard equipment on most large and small fishing vessels. The most significant development in recent years is the increasing size of midwater trawls and, with increasing engine power, the ability to fish deeper with them. There have also been substantial improvements with respect to technological aspects of other gears such as bottom trawl, longline, and handline.
The total number of fishing vessels at the end of 2009 was 1,582. Of these 58 were trawlers, decked vessels over 15 GT numbered 834 and undecked boats 756.
The 2009 Catch was as follows:
|
Cod |
189 |
|
Haddock |
82 |
|
Saithe |
61 |
|
Redfish |
58 |
|
Ocean redfish |
16 |
|
Greenland halibut |
16 |
|
Wolf fish |
15 |
|
Greater silver smelt |
11 |
|
Ling |
10 |
|
Blueling |
4 |
|
Monkfish |
4 |
|
Flatfish |
12 |
|
Herring |
331 |
|
Mackerel |
116 |
|
Blue whiting |
120 |
|
Capelin |
14 |
|
Shrimp |
5.5 |
|
Nephrops |
2.5 |
|
Total |
1,130 million tonnes |
Export of Seafood in 2009
Over the last three years and following the worldwide financial crisis, commercial fishing has become increasingly important and the export value of fish and fish related products increased by 99 billion ISK to just under 209 billion ISK a massive 42% of total exports.
|
ISK billion |
Percentage |
|
|
Total catch |
208,624 |
|
|
To EEC states |
164,137 |
79% |
|
Largest export states |
||
|
UK |
48,667 |
|
|
Norway |
20,731 |
|
|
Spain |
19,243 |
|
|
Holland |
15,614 |
|
|
France |
11,369 |
|
|
Germany |
10,380 |
|
|
Nigeria |
10,182 |
|
|
USA |
8,902 |
|
|
Japan |
7,950 |
|
Quota holders as at 1 September 2009
The five largest fishing companies hold 33% of the total quota in Icelandic waters; the ten largest 51% and the twenty largest hold 66%.
