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Business segments


Eimskip’s operations are divided into two principal market segments: Liner services in the North Atlantic and international forwarding services.


  • The core of the Company’s operations
  • Eimskip’s home market includes Newfoundland and Labrador, Greenland, Iceland, the Faroe Islands and Norway 
  • 16 vessels in operation, of which 2 are ferries
  • Terminal operations
  • Chilled and cold storage facilities
  • Warehousing
  • Trucking and distribution
  • Air freight services
  • Agency services


  • Primary focus on reefer forwarding - dry cargo forwarding is growing
  • Efficient system based on a network of 56 own offices in 20 countries 
  • Cooperation between Eimskip’s own offices, its worldwide network of associates and international deep-sea lines

In 2023, 68.3% of Eimskip's revenue came from liner services, while 31.7% came from forwarding services. The division of EBITDA in 2023 was 74.0% from liner services and 26.0% from forwarding services. The geographical division of revenue showed a decreasing share of Iceland-related business, contributing 40.3% of total revenue.

Liner EBITDA is EUR 91.3m in 2023 compared to EUR 119.5 in previous year, the decrease mainly driven by significant drop in Trans-Atlantic rates compared to previous year, less volume in Trans-Atlantic and generally lower margins in container- and reefer liner.

Forwarding EBITDA is EUR 32.1 in 2023 compared to EUR 43.6m in previous year when global freight rates were still on an elevated level.





Liner Services

Eimskip’s liner services are the core of the Company’s operations. Eimskip operates a dynamic container sailing system in the North Atlantic, with 14 vessels currently in operation. The Company’s home market includes Newfoundland and Labrador, Greenland, Iceland, the Faroe Islands and Norway. Eimskip also offers short-sea services in Europe and North America, Trans-Atlantic services, and bulk transport. Liner services include terminal operations, chilled and cold storage facilities, warehousing, trucking and distribution, airfreight services, agency services and ferries.


The revenue for liner services in 2023 amounted to EUR 597.8 million; a decrease of 11% from 2022 due to e.g., slight decrease in volume and significantly lower freight rates on the Trans-Atlantic trade lane. The EBITDA from the liner services amounted to EUR 91.3 million a decrease of EUR 28.3 million from previous year. EBIT from liner services in 2023 amounted to EUR 36.4 million compared to EUR 65.3 million in 2022. In 2023, liner services accounted for 68.3% of the Company’s revenue and 74.0% of its EBITDA. 

Transported volume in Eimskip’s liner services in 2023 declined by 2.0% from the previous year.  Majority of this decrease is due to lower volume in Trans-Atlantic services and taking into account the decrease in freight rates was the biggest factor behind lower EBITDA year on year in the liner services.  Import to Iceland was strong throughout the year on back of high economic activity. Export volume from Iceland was in line with previous year although below expectations due to lower level of salmon harvesting and industrial production.  Good contribution from Faroe Islands with strong export volume offsetting decrease in imports due to economic slowdown.  Norway reefer liner saw contraction in volume from previous year with less whitefish quota and changed market dynamics affecting financial results.

The graph below shows the volume development from 2018 to 2023.



Iceland, Faroe Islands, Norway and Trans-Atlantic


Eimskip defines its home market as the North Atlantic, from the east coast of North America to the west and north coasts of Norway, including Newfoundland and Labrador, Greenland, Iceland, the Faroe Islands and Norway. These countries are all niche market areas, rich in natural resources and with small populations. Seafood represents a substantial part of the total cargo in the Company’s home market.


Eimskip is constantly re-evaluating its sailing system and vessel fleet with the aim of optimizing operational efficiency and customer service. Eimskip’s sailing system has proven to be a reliable system, supporting service on core sailing routes, and designed to meet customer needs. 
In May 2023 schedules were adjusted with the aim of increasing the efficiency and reliability of the sailing system. These changes connected the Company‘s container sailing system in the North Atlantic and the reefer sailing system in Norway via Faroe Islands.

In November 2023 changes to schedules were announced that were implemented in February 2024. The changes include simplified structure of the sailing system by reducing miles sailed and the number of port calls resulting in lower emission and lower cost. The introduced changes are the final milestone on a journey that started earlier in 2023.

Eimskip operates six container vessels sailing between Iceland, the Faroe Islands, Greenland and ports in Scandinavia and Europe. One vessel is dedicated to coastal services in Iceland. Additionally, the Royal Arctic Line vessel Tukuma Arctica sails between Greenland and Scandinavia, also calling ports in Iceland and the Faroe Islands. Three container vessels serve between Iceland and North America. Furthermore, four reefer vessels connect the Norwegian coast to the Faroe Islands, Netherlands, England and Scotland.



Blue Line

Offers express services in both directions between Reykjavík, Rotterdam and Bremerhaven. With fast sailing times, this route is ideal for fresh fish, fruits, vegetables and other perishable products. The vessels serving on the Blue Line are Vera D and Jonni Ritscher.

Yellow Line

Offers express services, suited to fresh fish for example, from Iceland and the Faroe Islands to the UK and continental Europe and bi-weekly Fredrikstad. The vessels serving on the Yellow Line are EF Ava and Skogafoss.

Red Line

Hosts a vessel-sharing agreement with Royal Arctic Line (RAL) and offers weekly services with larger vessels and greater reliability. Sailings are to and from major ports in Scandinavia, the Faroe Islands, Iceland and Greenland. The vessels serving in the Red Line are Dettifoss, Brúarfoss and RAL’s Tukuma Arctica.

Green Line

Offers weekly services from Iceland to the east coast of the United States, Nova Scotia, Newfoundland, and then back to Iceland. It connects to the other European Lines in Reykjavík, enabling Trans-Atlantic services. The vessels Lagarfoss, Bakkafoss and Vivienne Sheri D serve on the Green Line.

Costal Line

Offers weekly services on the Iceland coast with the vessel Selfoss.

Orange line

Offers weekly services down the Norwegian coast, and onwards to the Faroe Islands, Netherlands, England and Scotland, before returning to Norway. The vessels serving on the Orange Line are Svartfoss, Polfoss, Holmfoss and Silver Star.


Eimskip currently operates sixteen vessels, of which eight are owned vessels and eight are chartered. Thirteen of the vessels are used in scheduled liner services on six different sailing routes. Ten are container vessels and three are reefer vessels. In addition, one reefer vessel offers spot services and two are ferries operated in Iceland.

All the vessels are highly competitive in terms of their size, cranes, reefer plugs, shallow draft, and maneuvering capabilities.


The Company operates terminals at 15 locations in five countries: seven in Iceland, two in the Faroe Islands, three in Norway, two in Canada and one in the USA. Eimskip owns or operates 14 chilled and cold storage facilities in five countries: seven in Iceland, three in Norway and two each in the Faroe Islands, Newfoundland and Labrador. Eimskip also operates 32 warehouses for dry cargo in nine countries: 15 in Iceland, seven in the USA, two in the Faroe Islands, two in the UK, two in Norway and one each in Sweden, Denmark, the Netherlands and Vietnam.

Eimskip’s container fleet currently consists of around 30,000 TEU. Trucking and distribution services are operated in Iceland, the Faroe Islands, Denmark, the Netherlands and the USA, and the Company owns around 157 trucks.


Eimskip is a niche player in forwarding services. The Company specializes in reefer forwarding – the transportation of temperature-controlled cargo, seafood products in particular.    

Over the years, Eimskip has built valuable relationships and acquired extensive know-how in the reefer forwarding trade, both through operations and the acquisition of specialist forwarding companies. The success is based on a global network of deep-sea lines managed via numerous Eimskip offices and those of associates. Eimskip also offers a range of logistics solutions to forward dry cargo worldwide.


Forwarding volume in 2023 in line with previous year with overall solid returns despite significant changes in market conditions from previous year. Revenue in 2023 amounted to EUR 277.4 million, a decline of 38% from the previous year mainly due to lower global freight rates. The EBITDA from forwarding services was EUR 32.1 million, a decrease of EUR 11.5 million from 2022 but with a higher margin percentage compared to previous years. Forwarding services accounted for 31.7% of the Company’s revenue in 2023 and 26.0% of its EBITDA. 

The graph below shows the volume development from 2018 to 2023.



Reefer and dry cargo forwarding