Faroese fishing vessel sold for less than half its appraised value

The Faroese fishing trawler Ljósafell was sold for €700,000 (5.23 million krónur), significantly below its appraised value of €1.1 million (8.2 million krónur), according to a report by Faroese national broadcaster Kringvarp Føroya.

Icelandic company Thor Fisheries acquired the vessel and has renamed it Kúrberg. Built in Japan in 1973, the trawler underwent major modifications in Poland in 1989 and 2007, including an extension of its hull.