Fishing Quotas

Allowable catch from Icelandic waters is based on data provided by the Marine Research Institute, who provide the basis for government fishing regulations. Our company is allocated a portion of the total allowable catch based on these government regulations. Our largest quota is for cod. The  breakdown of our quota holdings are as follows:


Table 1: Quota for the 2017/2018 fishing year.


Cod (Gradus Morhua)   6.733 tonn
Haddock (Melanogrammus aeglefinus)   890 tonn
Greenland Turbot (Reinhard hippoglossoides)   1.008 tonn
Pollock (Saithe) (Pollachius virens)   1.238 tonn
Red Perch (Sebastes norvegicus /marinus)   1.370 tonn
Wolffish (Anarhichas lupus)   278 tonn
Plaice (Pleuronectes platessa)   90 tonn
Lemon Sole (Microstomus kitt)   33 tonn
Ling Cod (Molva molva)   59 tonn
Herring (Clupea harengus)   351 tonn
Arctic Praws (pandalus borealis)   Ca 150 tonn
Other species   171 tonn
Ocean Perch (Sebastes viviparus)   58 tonn



This is a totals of 11 thousand tons of cod equivalent weight.

To a large extent our fishing is done with bottom trawls, though we fish with pelagic trawls for mackerel and herring.

Our trawl vessel “Julius Geirmundsson” IS-270, which freezes its catch on board, focuses on fishing cod, haddock, Greenland turbot, ocean perch and Atlantic pollock (saithe). Part of the catch is filleted and packed in cartons on board, while the rest is headed and gutted and frozen whole.

We operate two ice fish vessels, “Pall Palsson” IS-102 and “Stefnir” IS-28. They provide raw material for our shore based processing plants and we sell surplus catch as needed on the fish markets.