Norway to finance Icelandic trawler newbuildings

Vestmannaey Image: Vard/Stian Brunes Vestmannaey

The Norwegian government-owned financing body Export Credit Norway is set to disburse loans totaling NOK 500 million (US$58 million) to a consortium of Icelandic fishing companies for the purchase of six freezer trawlers in a series from shipbuilder Vard.

The 29- by 12-metre vessels are expected to be delivered during the second half of 2019 with operators Bergur-Huginn, Skinney-Thinganes, and Gjögur set to receive two vessels each.

Icelandic bank Landsbankinn will act as guarantor for the loans.

Bergur-Huginn had earlier been issued a loan from Export Credit Norway in connection with the delivery of Vestmannaey (pictured), a trawler from the same 29- by 12-metre series built by Vard.

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