The amounts of frozen fish landed in the Faroes are huge; but a deteriorating outlook for the blue whiting fishery may force the ports and shipping sector to look for alternative routes to business growth.
MAY 2009 (North Atlantic News). As duly noted by the CIAs World Factbook, the Faroe Islands is an archipelago strategically located along important sea lanes in northeastern Atlantic a country surrounded by sea, and a culture characterized by marine related concepts of the world. The Faroese are known as a nation of seafarers.
Last years record breaking volumes of transit cargo via Faroe are not likely to recur in 2009, yet todays downturn might be offset by future marine traffic from Barents Sea oil and gas.
The arrival of the worlds most advanced pelagic trawler renews optimism for the Port of Klaksvík where storage and docking facilities at the North Quay deep-water terminal are set to attract new business.
Toftir Harbour had a new terminal for cargo built just in time to accommodate an increase in traffic, providing Fresh Link with the right infrastructure for the vital export of fresh seafood to Scotland.
As offshore services supplement fishing and aquaculture industries, business development at the Port of Runavík takes a wider perspective with the reorganization of the port authority.
I’m proud to present the 6th edition of the Faroe Business Report. It’s a pleasure again this year to bring you this information package about the Faroese business scene in cooperation with leading businesses and government departments and agencies. I encourage you to take a read to check the state of affairs in the Faroese business environment and see what some of the main events are compared to last year or a few years back. I guarantee that there’s quite a few things that happen in the course of a single year — major change can occur very quickly in the Faroe Islands.
Búi Tyril
Publisher and Editor in Chief
Sponsoring an article or placing an ad in the Faroe Business Report is a great way of accessing important market segments or conveying your values to key constituencies. For those keen to share with an international audience what their position in the Faroe Islands may mean, this yearly publication is recognized as the information medium of choice — an undisputed leader in its field.
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Fyri bæði fyritøkur og stovnar er umráðandi at samskifta væl við umheimin, soleiðis at góð og hóskandi kunning altíð er tøk í rættari tíð. Hesin samskiftis tørvur ger seg altíð galdandi, eisini tá vit ikki beinleiðis síggja hann.
Hetta kemst millum annað av at broytingar við meir ella minni avgerandi ávirkan á virksemið hjá fyritøkuni ella stovninum kunnu henda óvæntað skjótt.