Faroe Business Report — The International Review of Faroe Islands Industry and Trade - Faroe Business Report -- The International Review of Faroe Islands Industry and Trade

Click here to view PDF...

Peculiar for its remoteness, yet only a two-hour flight from Copenhagen, the Faroe Islands offers an exotic blend of natural beauty and modernity — increasingly enticing for conference-goers in search of the perfect getaway.

The maturing tourism sector in the Faroe Islands, including the growing conference business, could be taken as a clear testimony to the country’s pre-eminence in providing the best of three worlds: proud cultural heritage, unspoiled natural surroundings, and advanced conference facilities and services.

The weather-beaten islands in the middle of the North Atlantic Ocean provide an inexhaustible source of inspiration for locals and visitors alike — those towering rocks and mountainous hills, carpeted by bright green grass in the summer or covered by white snow in the winter.

Click here to view PDF...

With its own fleet of modern fishing vessels to secure sourcing, Faroe Seafood looks to extend its range of value added products after tough years of its expansion and consolidation.

Following rapid expansion and consolidation over the last few years with rationalization of its activities, Faroe Seafood, the Faroe Islands’ largest producer and exporter of seafood products, is looking to broaden its product range to accommodate growing demand from the convenience foods market.

“We are working to sharpen our focus on value-added products with regard to the general retail market and convenience foods,” said CEO and President Meinhard Jacobsen. “This means bringing in a whole array of additional new technology, including X-ray systems in processing, to increase product refinement and reduce running costs while also increasing the spread of expertise throughout the entire company.”

Click here to view PDF...

As well as being home to the country’s only supply base for offshore oil and gas, Runavík has become the largest port in the Faroes as regards sourcing of both wild whitefish and farmed salmon — and is poised to become even larger.

Irrespective of the tight economic climate seen most everywhere nowadays, there is optimism at the Port of Runavík, where business growth experienced over the past few years looks set to continue. When it comes to landings of saithe and mixed groundfish, Runavík took in more than 40,000 tonnes in 2009 with dispatches of farmed products amounting to 31,000 tonnes, making it by far the busiest whitefish and salmon port in the Faroe Islands.

Click here to view PDF...

Offshore vessel owner and operator Supply Service places emphasis on building a track record of top performance in health, safety, environment, and quality (HSEQ) management — and could soon see its fleet grow.

Contracted to work for the likes of Wintershall and Det Norske Oljeselskap, Leirvík-based offshore service company Supply Service is determined to build a strong track record in the upper end of the North Sea oil and gas market with an eye on fleet additions.

Based on top quality performance and a green profile, the company is on track to place orders for new high-end support vessels in the near future, said managing director Jens Meinhard Rasmussen.