New pelagic fishing company takes shape after merger

A new pelagic fishing company has been formed after the Faroese Competition Authority approved the merger of Gráastein, Ango and half of the company behind the fishing vessel Katrin Jóhanna, broadcaster KVF reports.

The three companies entered the pelagic fleet several years ago after the political system sought to bring more operators into the industry. Katrin Jóhanna joined the fleet through politically allocated development quotas in 2018, while Birita and Ango entered in 2021 after quotas were allocated through what was then called specific vessel purchases.

The three vessels landed catches worth a combined 270 million kroner in 2024 and 253 million kroner last year.

Merger approved

The companies are now combining into a single business. The company behind Katrin Jóhanna has been split in two, with one half joining the new company without a vessel but with quotas. The other half continues with Katrin Jóhanna and half of the vessel’s quotas.

The Competition Authority recently approved the merger of Ango, Gráastein and half of Kinnfelli, which is now called the private limited company 7 May 2026. Vørn had previously approved the merger under provisions concerning the concentration of quotas and ownership.

According to the Competition Authority’s decision, the new company will account for approximately 8 to 10 per cent of the landing value of mackerel, blue whiting and Norwegian spring-spawning herring. The decision states that the new merged company significantly impedes effective competition, and the merger was therefore approved.

Birita is the only vessel

The vessel Ango was recently sold to Morocco for 44 million kroner. Birita, which is 26 years old, is therefore the only vessel in the new company.

When the sale of Ango was announced, the merged company said it planned to buy newer vessels.