Co-ownerships to increase landings
In cooperation with local fishermen and other stakeholders in the northernmost settlements in Greenland, in recent years Royal Greenland has created two companies under shared ownership. Catch volumes are increasing significantly.
In Qaanaaq, Greenland, which is the northernmost settlement where Royal Greenland has activities, Inughuit Seafood was established at the end of 2014. The ownership structure is that local fishermen own 50% of the company, while Royal Greenland owns the rest. During the three-year period in which the new ownership structure has applied, the catches landed by the company have doubled.
The settlement facilities in Nuussuaq and Kullorsuaq near Upernavik have been converted to the company Arctic Fish Greenland A/S. Here, so far 92 fishermen have purchased shares, and overall account for 30% of the company’s ownership, while Royal Greenland accounts for the remaining 70%. Under the new ownership structure, there has been a significant increase in activity in the two settlements. In order to meet the increased catch landing in Kullorsuaq, Royal Greenland has already expanded the frozen storage capacity by 160 tonnes, so that the total frozen storage capacity is now 660 tonnes. During 2018 the frozen storage capacity in Nuussuaq will also be expanded.
