Fara á efnissvæði
07 Ozzo Irafoss


Eimskip strives to provide its customers with the most efficient and sustainable transportation solutions combined with outstanding services, all while securing a good return for its shareholders and being responsible for its employees, society, and the environment. As a company, Eimskip aims to contribute to a better and safer society wherever it operates, and responsibility towards the community is an integral part of the Company’s sustainability policy. The sustainability policy is reflected in Eimskip’s global policies that apply to the Eimskip Group. 

Eimskip is a registered participant of the UN Global Compact, the United Nations’ initiative for social responsibility for human rights, labor, the environment, and anti-corruption. With its participation, the Company has committed to managing its business operations so that the UN Global Compact and its Ten Principles are a part of the Company’s strategy, culture, and day-to-day operations. 

Eimskip’s Sustainability Strategy is based on the Nasdaq ESG Reporting Guide and embraces the Environment, Social and, Governance factors.

Eimskip’s ESG Sustainability Statement for 2023 is available here.


Eimskip’s sustainability work is managed through the Sustainability Policy, which was last updated in 2023. The Company has a governance structure for sustainability-related matters where the CEO is responsible for a strategic sustainability framework, and the issues are regularly reported to the Board of Directors, who also participates in strategic work. Executive Vice Presidents are responsible for specific categories within the sustainability framework: Environment (E), Social (S), and Governance (G). The Sustainability Manager holds the day-to-day responsibility and coordination of the sustainability strategy. The Sustainability Manager reports quarterly to the Executive Management and at least yearly to the Audit Committee and the Board of Directors.  

In 2023, Eimskip introduced new targets connected to Environment, Social, and Governance factors. The Company’s sustainability is addressed with a holistic approach, and the plan reflects the commitment to ensure a green transition and, to keep a strong focus on a safe, equal, and inclusive workplace, and a strong value chain.

In 2023, there was an 8% reduction in the Company’s CO2 emissions. The Company did not reach the ambitious goal of zero work accidents, but constant emphasis is placed on safety and health within the Company. The employee turnover rate is 23%, primarily among vessel and warehouse employees. The number of women in management has increased from 31% in 2022 to 33% in 2023, but a strong focus has been on leadership programs with equal participation of women and men. The Code of Conduct was reviewed and reintroduced, and 74% of the Company´s employees have signed it. The Company reviewed the Supplier Code of Conduct and the Sustainable Procurement Policy in 2023. Furthermore, Eimskip sent an ESG questionnaire to suppliers representing 80% of the Company’s spending. Around 39% of suppliers who have received the Supplier Code of Conduct and the ESG questionnaire have replied.


The EU has put forward the Sustainability Reporting Directive (CSRD), and it is expected that it will impact sustainability reporting as of 2024.  The CRSD is supported by 12 standards within the European Sustainability Reporting Standard (ESRS).  Eimskip has conducted a double materiality assessment and is working on the final details. The first results indicate that the current strategy aligns with the materiality assessment. The analysis will, however, deepen the prioritized factors and help the Company allocate relevant resources to the most important issues. Eimskip emphasizes integrating the result of the double materiality into the Company’s risk management and processes.  It is foreseen that the cooperation between sustainability and finance will be closer regarding reporting and third party-limited assurance.


The Focus areas for 2023 were Climate change, Safety and wellness, Gender equality, and Code of Conduct. All the focus areas are linked to one or more of the UN Sustainability Development Goals and are reported to the UN Global Compact annually.


The impacts of global warming and ocean pollution leave all critical components of the modern economy vulnerable and pose a significant threat to the quality of life for future generations.

The Company respects the environment and recognizes the effects of climate change on society, its business activities, and the need for a low-carbon economy. It is critical to reduce the environmental impact of the Company’s operations. The Company considers climate change one of the main ESG risks in the business, and in 2023, the Company increased its emissions target with an ambitious goal to become net zero before 2040.  

“Setting a goal to achieve net-zero emissions by 2040 shows a steadfast commitment to improving environmental management.”

Eimskip’s journey towards achieving net-zero emissions by 2040 represents a significant milestone in the Company’s longstanding commitment to environmental sustainability. Since 1991, Eimskip has been proactive in implementing environmental policies and supporting global and local initiatives aligned with the spirit of the Paris Agreement. While the past efforts have laid a strong foundation, the new net-zero emissions target by 2040 demonstrates a steadfast commitment to improving environmental management. This ambitious goal underscores the Company’s recognition of the urgency to address climate change and drive meaningful action within the organization and beyond. With this target, Eimskip is taking a bold step forward, leveraging the experience and expertise to mitigate Eimskip’s environmental impact and contribute positively to a sustainable future for generations to come.

This ambitious goal underscores the Company’s recognition of the urgency to address climate change and drive meaningful action within the organization and beyond. With this target, Eimskip is taking a bold step forward, leveraging the experience and expertise to mitigate Eimskip’s environmental impact and contribute positively to a sustainable future for generations to come.

In 2023, Eimskip adjusted its sailing system and prepared to implement further changes to reduce greenhouse gas emissions in 2024. These changes include streamlining the sailing system, reducing harbor time, and shortening sailing routes. The adjustment to the system is expected to reduce sailed miles by 5% and bunker consumption by approximately 14% compared to the 2022 sailing system. 

To achieve complete transparency regarding emissions and waste from each emitting source of Eimskip’s supply chain, the Company uses an electronic Environmental Management System linked to all significant assets in the supply chain, streaming reliable and transparent information on its environmental matters. Digitalization of emission and waste-registration data from the supply chain enables continuous measurements and provides transparent and dependable communication. Eimskip publishes environmental statements quarterly to manage and monitor the Company’s CO2 emissions. 

The Company seeks to support its customers in their journey by working on reducing greenhouse gas emissions and by seeking future fuel options. The Company offers customers a yearly CO2 emissions report for their reporting. The Company’s website also has a carbon footprint calculator available. Eimskip provides customers with a solution to transport fresh products with lower emissions. 


The Company is fully aware of the environmental impact of its business activities and the need for a low-carbon economy. Minimizing the ecological load from operations by achieving complete clarity regarding emissions and waste from each emitting source in the supply chain. The urgency to work on goals towards lower greenhouse gas (GHG) emissions before it goes higher than 1.5°C is clear.

Carbon footprint per transported ton
Eimskip’s official KPI was set in 2015. It measures the development of reducing GHG emissions of transported tons by 40% before 2030. In 2023 accelerated targets to become net-zero before 2040 were set.  Eimskip however continues to display the Official KPI with the base year 2015 since it evaluates the progression of Eimskip’s journey. The KPI represents all scope 1 emissions of all cargo vessels in Iceland, Norway, the Faroe Islands, and trucks/equipment in Iceland per ton of the transported unit. The KPI is adjusted to the vessel-sharing agreement with Royal Arctic Line (RAL) due to regulations regarding transportation to and from Greenland.

The Company’s carbon footprint KPI is calculated in the graph below. It shows accumulated carbon intensity per ton of transported units, compared to the base year 2015.


Accumulated results compared to the base year 2015

The positive development in Eimskip’s Sustainability KPI, GHG emission per transported ton from 2015, is due to less oil consumption in the container liner system, increased volume, larger and more modern vessels, and overall higher utilization of the sailing system. 

Greenhouse Gas Emissions
Eimskip has a good overview of the operation’s GHG emissions. The Company has an environmental management system and gathers its data digitally. The data covers the vessel fleet’s energy and waste management, trucking fleet, terminal assets, warehouses, and office facilities. 

In the environmental statement for 2023, the Company has registered scopes 1 and 2 for all vessels and offices in Iceland. Eimskip operates in 20 countries, and as of 2023, all the countries are part of environmental reporting compared to 17 countries in 2022. In the Company’s ongoing commitment to sustainable and environmentally responsible practices, Eimskip maps all scopes 1 and 2. To Eimskip, reporting environmental data for the subsidiary Sæferdir and the utilization of non-combustible gases in cold storage facilities and temperature-controlled containers was added. The Company has an outstanding overview of scopes 1 and 2. 

Eimskip’s total emissions were 284,124 tCO2e in 2023 compared to 308,210 tCO2e in 2022, which is an 8% reduction. Scope 1 is 283,917 tCO2e, where the vessel fleet is responsible for most emissions. 

Scope 2 has increased from 1,517 tCO2e in 2022 to 2,027 tCO2e in 2023 due to data on electricity from more countries. In scope 2 the Company has mapped the business flight in Iceland and Norway and the waste resulted from the operation in Iceland.  Scope 3 is down 45%, from 377 tCO2e in 2022 to 207 tCO2e in 2023. The difference is primarily due to the incorrect flight registration in 2022. Further steps need to be taken to improve the registration of scope 3 The Company’s energy mix is 96% fossil fuel, with most vessel emissions.

New fuel source, infrastructure, and supply
The majority part of the energy that Eimskip uses comes from fossil fuels. The vessels are responsible for most of the fossil fuel use. 

An energy transition is required to achieve Eimskip’s CO2 reduction objective. The future will lead to green fuel, and there are several options. Green methanol, green ammonia, and green hydrogen are future energy sources for ocean and land transport. The supply of energy and the infrastructure must be in place before steps are taken. It is also important that the pricing of the new energy is transparent so that it will be possible to calculate all green investments based on operational requirements.

Eimskip is evaluating its steps regarding energy change. The Company is in discussion with various parties concerning Eimskip’s energy transition for its shipping- and ground transport fleet. 

Eimskip has focused on the sailing system, e.g. slower and optimized sailings in 2023, but is still evaluating its options in renewing the container vessel fleet, focusing on the next generation of vessels using alternative greener fuel.

Carbon projects 
The Company’s largest vessels, Brúarfoss and Dettifoss, undertook regular shipyard work where, among other things, the vessel hull was painted with a special paint that reduces the vessel’s resistance while sailing, reducing fuel consumption by an estimate of approximately 6%. The vessels are also utilizing the electric shore power connection system in Sundahöfn Terminal in Reykjavík while docking. It is estimated that it reduces the oil consumption up to 240 tons per year, which equals 750 tCO2 emissions.

Eimskip added three new electric trucks with refrigerators and one methane truck to the fleet in 2023. Eimskip is among the first companies to distribute temperature-controlled goods with electric trucks. Distributing temperature-controlled goods in electric vehicles is an additional challenge, as considerable energy is needed to cool food during distribution. Simultaneously with the reception of the cars, a powerful 150 kwh charging station was installed, and the Company added charging stations for passenger cars. Now, Eimskip has 28 charging stations available in Iceland.

Running Tide is an innovative company working to decrease carbon footprint by growing macroalgae in the ocean. Still, the ocean’s biological carbon pump plays a significant role in the global carbon cycle. Running Tide and Eimskip cooperate, whereas Running Tide utilizes Eimskip land at Grundartangi in return for carbon credits. Eimskips employees have also assisted by putting measuring devices into the ocean, so it is possible to measure ocean currents. Running Tide will then use the information to decide where to release its macroalgae in the sea.

Several items of legislation play significant roles in the shipping industry; the EU has unveiled the Fit for 55 Package, focusing on more ambitious climate change targets. One of the EU legislative packages the EU has proposed to help achieve that objective is the Emission Trading System (ETS). ETS seeks to minimize GHG emissions by establishing a carbon market where businesses may purchase and sell emissions allowances depending on GHG output. Eimskip has implemented an ETS surcharge and has taken measures to minimize the necessary allowances, with a long-term goal of reaching net zero emissions.

Another legislation is the EU Taxonomy, where companies report on sustainability-related issues based on the EU classification system for sustainable investment. Eimskip reported based on EU Taxonomy in 2023 (see chapter below). 

IMO (International Maritime Organization) is a global agency of the United Nations that has taken several steps to support the reduction of GHG emissions. In 2023, IMO set ambitious intermediate and long-term targets for shipping to reach net zero. IMO has also mandated using the EEXI (Energy Efficiency Existing Ship Index), EEDI (Energy Efficiency Standards for new ships), and SEEMP, which requires ships to have an energy efficiency plan. The Carbon Intensity Indicator (CII) is intended to complete other measures; this became effective as of January 1, 2023 and is currently monitored.  

EU Taxonomy
This year for the first time, Eimskip reports information related to EU Taxonomy. The purpose of the taxonomy framework is to establish a standardized and transparent classification system for sustainable investments by emphasizing science-based reporting, and technical screening criteria enabling companies to clearly report sustainable activities. For companies to be considered environmentally sustainable (i.e. aligned) they are required to fulfill criteria set in the EU Taxonomy regulation. An economic activity must contribute to one or more stated environmental goals while simultaneously it may not do significant harm to others (DNSH). Furthermore, it must be conducted in compliance with minimum safeguards as well as fulfilling relevant technical criteria.  The main Eimskip activities that are considered eligible are: 6.6. Domestic land transport, 6.10. Vessel operation, 6.11. Ferry operation, and 6.16. Terminal operation in Iceland and vessel to shore connection, these activities represent 54% of the Company’s revenue and 76% of the CAPEX. 

Substantial effort was invested in the taxonomy journey in 2023 outlining the Group's sustainability contributions. Parts of the Company’s assets, 6.6. Domestic land transport and 6.16 Terminal operations in Iceland and vessel to shore connection, contain business activities that are close to alignment and fulfil technical criteria as well as DNSH requirements.  Eimskip is going to improve further minimum safeguards with regards to due diligence, and the Company focus in 2024 is to ensure full compliance of the due diligence process.  

The full disclosure can be found in the Consolidated Financial Statement 2023. It should be noted that the EU Taxonomy regulation is maturing and evolving, as such reporting against the taxonomy is currently subject to interpretation. In subsequent years Eimskip will adapt and expand the reporting according to the developments in the regulation.


For many years, Eimskip has sorted and recycled most of the waste produced by its operations. In recent years, the focus has been on recycling as much as possible, and the procedures are continuously revisited.

On board vessels, Eimskip works on waste management, according to MARPOL. All vessels have a garbage management plan and a garbage record book. To further improve monitoring, recycling, and reporting, Eimskip has digitized the garbage log and started streaming the data to the environmental data warehouse in 2016. Through this, waste has become a part of the supply chain footprint calculation and analytics.

Land operation waste management is continuously improving. Continuous focus was in 2023 to identify the source of waste to reduce it. Eimskip took several actions to meet the goals. The Company has started to build a waste management station in Sundahöfn, which will be open in 2024.  

Within the Company, there is a strong culture of reusing material and preventing waste, and material is reused as much as possible. An example of such a project that focuses on reuse is dunnage bags. Dunnage bags are used to stabilize cargo and are reused. Another example is the handling of old pallets in the system. When the pallet cannot be used anymore, the wood is given a new life as a spare part for other pallets. In inland transport, a reusable box is used to transport goods within Iceland, reducing the need for plastic in the operation and minimizing the risk of damage. 

Vöruhotelid, the Eimskip warehouse in Reykjavik uses film to secure cargo on pallets. The operation has changed to thinner films that are partly produced with recycled plastic. The warehouse expects the carbon footprint to be reduced by 6.6 tCO2e annually. 

As part of Eimskip’s commitment to being an active partner in the circular economy,all films are sent to the innovation company Pure North, which is developing new solutions for recycling plastic. In 2022, about 33 tons of film were sent to Pure North from all land operations in Iceland, and Eimskip reduced the emission of those 33 tons by 82%.

The environmental system only records waste generated within Iceland. 2023, the total waste generated in Iceland was 3% less than in 2022. The rate of recycled waste was 74% in 2023, and the percentage of sorted waste was 75% in 2023 compared to 77% in 2020. The sorted waste has decreased by 5%, which explains the difference in the percentage of sorted waste. 

At the office, most waste is due to the use of paper. All around the world, employees have worked on projects to support “Eimskip Paperless Journey.” Employees have run several projects focusing on digital solutions, and in other cases, employees changed their way of working to reduce printing. 


Eimskip operation mainly impacts the ocean and land. Special efforts have been made on actions regarding climate change, but the Company also evaluates other possible environmental impacts, including the effect of pollution on biodiversity and ecosystems. In the operation, there is a risk of affecting nature, but as a part of the operation, the risk is monitored and evaluated constantly.

Air quality
The terminal in Sundahöfn operates an electric shore power connection system for the container vessels Bruarfoss and Dettifoss. Eimskip can now use its largest vessels on electricity instead of oil-powered auxiliary engines during their port time in Sundahöfn. The benefit is reduced emissions, improved air quality and acoustics in the area, and a reduction in oil consumption by up to 240 tons per year, which equals 750 tCO2 emissions. 

Eimskip added three new electric trucks with refrigerators and one methane truck to the fleet in 2023. Eimskip is among the first companies to distribute temperature-controlled goods with electric trucks. Distributing temperature-controlled goods in electric vehicles is an additional challenge, as considerable energy is needed to cool food during distribution. Simultaneously with the reception of the cars, a powerful 150 kwh charging station was installed, and the Company added charging stations for passenger cars. Now, there are 28 charging stations available in Iceland.

Eimskip operates mobile harbor cranes connected directly to electrical power at three of the Company’s terminals in Iceland: Reykjavík, Grundartangi, and Reydarfjördur on the east coast. Some cranes were initially designed to run on diesel but have been retrofitted. Electric harbor cranes have several other positive effects, e.g. reduced CO2 emission, and Eimskip reduces carbon dioxide (CO2) by 340 metric tons per year by operating cranes with electricity. This amounts to what a 17-hectare forest can bind on an annual basis. In addition, noise and dust pollution is reduced at the terminals. 

Forklifts at warehouses are typically powered by electricity.

Eimskip has met the regulation regarding the obligation to have sulfur (SOx) content lower than 0.5% in international waters. This has been completed by installing scrubbers on Bruarfoss, Dettifoss, and Lagarfoss and using sulfur limited fuel on the rest of the fleet. NOx emission reduction equipment has also been installed in the Company’s reefer vessel fleet operating out of Norway, significantly reducing NOx pollution from the vessels.

Improved energy efficiency 
Eimskip is continuously working on improving energy efficiency in the overall system. Energy efficiency is an integrated part of operating the vessel fleet, and the Company constantly seeks opportunities to find a solution to increase the efficiency in energy consumption. The Company is actively monitoring fuel consumption about CII requirements. The Company invested in weather routing systems that calculate the best routing based on weather and sea conditions. 

Eimskip operates about 148 trucks in Iceland and Europe. Most of them are connected to a monitoring system for improved energy efficiency. Most of the Company’s premises and storage facilities use electricity for lighting and the operation of refrigeration systems in warehouses and electrical loading stations. Harbor lighting also consumes electricity. The new terminal in Sundahöfn is equipped with LED lighting, far more efficient than conventional lighting systems. In Iceland, the energy is 100% green.

There is a risk of spills in the operation, but it is part of the Company’s mitigation plan to decrease the risk as much as possible. No large spills were reported in 2023 within the operation. 

The Company seeks to reduce the risk of container loss by preventative measures. The crews receive training to handle the securement of the container. Bad weather is one of the most significant risk factors for container loss, but in 2023, only one empty container was lost at sea during a highly harsh storm. 

Eimskip supports a project with Fisheries Iceland to clean up and recycle orphaned fishing gear. Fishing gear is recycled, and products are used by the automotive, furniture, and high fashion industries.

Water management 
Water management includes planning, distributing, developing, and overseeing water resources such as surface water, groundwater, and wastewater. Eimskip prioritizes assessing the risk of wastewater impact stemming from ballast equipment. However, a crucial aspect of water management involves reducing the effects of ballast water discharge on local ecosystems. Eimskip vessels have ballast systems for ocean safety, where seawater is pumped in to maintain stability. Before discharge, the seawater taken on board is treated to remove unwanted wildlife and plants, safeguarding ecosystems in different geographical areas.

According to Eimskip’s ESG statement for the year 2022, the water usage was 299,760, most of which came from land operations.



Eimskip recognizes its responsibility to work in partnership with the communities in which it operates. This partnership connects all stakeholders, employees, customers, shareholders, and society with the Company’s values of achievement, cooperation, and always trust in mind. These values serve as guiding principles for the Company and shape the Company’s culture and actions, both internally and externally. 


Eimskip employs about 1,700 people across four continents and 20 countries. The employee group is diverse, with varied backgrounds and perspectives, bringing a wide range of talents, ideas, and views to the table that inspire creativity and innovation in the workplace. The Company is dedicated to maintaining a workplace culture characterized by dynamic communication, information sharing, and diverse development opportunities, fostering a sense of belonging, loyalty, and high employee engagement.  

Aligned with its values of achievement, cooperation, and trust, Eimskip maintains comprehensive employee rights and welfare policies that reflect its dedication to human rights. These policies, including the Employee Code of Conduct, Human Resource Policy, Salary Policy, Equal Opportunities Policy, Policy Against Bullying and Harassment, Health Policy, and Occupational Safety and Security Policy, apply to all employees across Eimskip and its subsidiaries.

Eimskip monitors different drivers of employee satisfaction through an annual engagement survey. The survey serves as a comprehensive assessment tool for measuring engagement, satisfaction, and loyalty – key performance indicators (KPI’s) for Eimskip. By measuring and analyzing these metrics, the Company continuously strives to enhance the employee experience and foster an inclusive environment that facilitates collaboration, employee wellbeing, innovation, positivity, and growth. 

In the 2023 survey, the overall engagement and satisfaction improved compared to 2022, with scores surpassing the True benchmark® set for international companies in similar sectors. The results are in line with previous trends, where the scores continue to improve year over year. The positive outcomes can be directly linked to the Company’s dedication to enhance employee wellness and foster engagement, driven by the understanding that elevated well-being translates into a better quality of life and greater employee satisfaction. 

As part of its commitment to employee well-being, Eimskip offers various benefits that support the health and well-being of employees. To further promote these benefits the Company has introduced the Health and Happiness Bundle, which showcases a collection of grants, benefits, and opportunities available to employees. These concerted efforts underscore Eimskip’s dual focus on prioritizing its employees’ health and wellness while addressing employee turnover and promoting an environment that encourages employee satisfaction.

In 2023, Eimskip introduced a streamlined interview model for employee check-ins to facilitate more effective communication between managers and employees. This revamped approach aims to empower managers to better support their team’s growth by identifying opportunities for skill enhancement and professional development. Furthermore, these check-ins serve as a platform for building relationships and trust between managers and employees, creating a supportive environment where open dialogue and two-way feedback are encouraged. By providing a simplified platform for regular check-ins, Eimskip underscores its commitment to creating a culture of continuous improvement and employee growth within the organization.

Overall employee turnover was 23% in 2023, compared to 22% in 2022, particularly among crew members and warehouse employees. To further solidify its commitment to employee retention and align with the Company’s sustainability goals, Eimskip has implemented projects focused on enhancing employee wellbeing. These efforts are integral to the broader strategy of creating an employee-centered workplace that supports diversity and gender equality. 

As part of the Company’s holistic approach, it leverages data analytics and key performance indicators (KPIs) through its Global HR dashboard. This enables constant monitoring of metrics such as full-time equivalents (FTEs), turnover rates, sick day trends, employee demographics, seniority distribution, and gender ratios across all organizational subgroups. This facilitates strategic decision-making for long-term organizational sustainability and success.


Eimskip’s commitment to diversity and gender equality is evident in the Company’s efforts to amplify women’s representation in leadership positions. Notably, the percentage of women in senior management has increased from 30% in 2022 to 33% in 2023. Women represent 31% of the total workforce and are up by 1 point since 2022. This upward trend reflects Eimskip’s ongoing commitment to maintaining an inclusive workplace culture that supports the growth and development of all employees. Diversity is also reflected in various types of jobs within the operation and number of nationalities, and employees come from 46 different countries.  


By gender

A key driver of diversity and gender equality in Eimskip’s leadership is its Succession Planning process, which along with the Company’s Leadership program, aims to develop a diverse group of current and prospective leaders. 

As a part of Eimskip’s efforts to promote gender equality and women empowerment, the CEO and male EVPs hosted Barbershop events, originally a UN Women initiative to promote gender equality. The initiative aims to engage men in promoting gender equality by creating a safe space for men to participate in gender equality conversations on topics such as positive masculinity, harmful gender stereotypes, and gender-based harassment. These discussions increase awareness about gender inequality and how it can affect individuals. It helps in breaking traditional norms and creating a more inclusive environment.

Additionally, Eimskip maintains a clear policy and a contingency plan to address instances of bullying, harassment, and discrimination. This commitment is further reinforced through comprehensive seminars conducted for all employees. These seminars cover essential topics such as identifying harmful behavior, understanding its impact, and developing strategies to prevent it, and they equip employees with the necessary knowledge and skills to create a safe and welcoming work environment while also promoting stronger relationships among colleagues.


Eimskip believes that investing in employee development encourages individual growth and contributes to the Company’s long-term success. In line with this belief, Eimskip actively promotes a culture of continuous learning and growth, is committed to providing employees with opportunities for learning and development and offers a variety of on-site and online training programs and workshops throughout the year. Moreover, employees are supported in continuing their education and learning by attending external seminars or degree programs and obtaining professional certifications, facilitated through educational grants and scholarships provided by the company.

This commitment to continuous learning extends to Eimskip’s leadership development program, launched in 2022. The program aligns with Eimskip’s leadership model, prioritizing the development of modern skills in a dynamic business environment. The program empowers leaders with effective communication skills, adaptability, constructive feedback, and innovative thinking, fostering confidence and autonomy. Participants gain valuable insights into operations and cross-company expertise, facilitating a comprehensive approach to leadership development and equipping them with skills for new responsibilities and roles. In 2023, 30 employees successfully completed the leadership program. Overall, 105 participants from 14 countries have graduated from the program, with 53% of the participants being women. Following two years of broad leadership development 34 participants, including 20 women, have experienced career advancements. This quantifiable success underlines the effectiveness of Eimskip’s leadership initiatives.

Eimskip launched the Eimskip Academy, a digital learning platform in 2023. The Academy contributes to the Company’s efforts in building a diverse and inclusive work environment, providing equal access to learning resources and development opportunities for individuals to excel in their roles and contribute to the Company’s ongoing success.  

Furthermore, Eimskip achieved a significant milestone by launching Iceland’s inaugural vessel management internship program. Notably, the program’s first participant in Iceland is a woman, highlighting Eimskip’s dedication to empowering women in traditionally male-dominated fields and in leadership roles.


Eimskip has a clear human rights policy that states everyone should enjoy equal rights. The policy is accessible on the Company’s website. Eimskip is a registered participant of the UN Global Compact, the United Nation’s initiative for social responsibility for human rights, labor, environment, and anti-corruption. With its participation, the Company has committed to managing its business operations so that the UN Global Compact and its Ten Principles are a part of the Company’s strategy, culture, and day-to-day operations. 

“Human rights touch almost every aspect of the Company’s activities, both its own workforce and workers in the value chain.”

Human rights touch every aspect of the Company’s activities, both its own workforce and workers in the value chain. Several policies support human rights matters. Human resources, human rights, equal opportunities, bullying and harassment, well-being and safety are covered through the Human Resources Policy, Code of Conduct, Supplier Code of Conduct, Anti-Money Laundering and Sanction Policy, and Whistleblower procedure.  

Eimskip has taken significant steps to identify the risks to human rights in its own workforce, and the risks are monitored and mitigated as part of Eimskip’s holistic Enterprise Risk Management. Actions have also been taken towards employees in the value chain, and the Eimskip Supplier Code of Conduct and self-assessment for suppliers have been confirmed by 39% of suppliers that represent 80% of the Company’s total spend.  


The health and safety of employees is essential to Eimskip. The Company strives to offer a safe and healthy working environment and focuses on ensuring that employees protect themselves, their colleagues, external parties, goods, equipment, and the environment from harm. Eimskip has a zero-accident policy. That means that Eimskip’s goal in preventative work is to minimize any harm posed to individuals, goods, or the Company’s property. 

Training programs are conducted on a regular basis to maintain high safety awareness. The training is on-site and through an online program available in Eimskip Academy – Learning Platform and Ocean Learning – Learning Platform for crew members.  

In 2023, on-site training sessions or training drills were held for all target groups in Iceland, vessel employees, terminal employees, and truck drivers. The Company continued to provide training on IMDG (The International Maritime Dangerous Goods) for global offices in dangerous goods transported by sea. The IMDG training aims to strengthen existing knowledge of dangerous goods further and ensure professional and safe transport of dangerous goods in Eimskip’s transport chain. For land transport, ADR (Accord Dangereux Routier) training was conducted for truck drivers to maintain secure transport of dangerous goods. Safety Week is held each year with diverse courses for all employees to further support safety awareness.

The Company continued strengthening its cybersecurity position with a stronger partnership with key IT security partners. A newly implemented learning platform is in place to raise security awareness, and an enterprise risk management program is active.

Eimskip has a First Response Team, whose duty is to respond to various incidents on sea and land. The team aims to ensure and assist with proper first response and limit accidents to people and damages to properties, cargo, and the environment. Also, it is the team’s responsibility to respond to cyber incidents. Furthermore, the Company’s Loss Prevention Team meets regularly to investigate losses, damages, and accidents and follows up on necessary changes, training, and improvements.


Eimskip is renowned for its excellent service. The Company has a broad customer base and provides various solutions to meet diverse requirements. A global team with local expertise provides customers with holistic services designed specifically for their needs. The Global Service Policy aims to align the service approach, goal setting, and measurements between different units within Eimskip to ensure that the Company is offering its customer base excellent customer service.

The Global Service Policy contains three pillars: Global Team, Proactive, and Simplify. Eimskip sends out a Net Promoter Score (NPS) customer survey each year to measure and monitor customer satisfaction for customers globally. Eimskip’s NPS continues to be strong at 29,2, reflecting the strong satisfaction and loyalty of its customer base.

The changes to container sailing in Eimskip will, in the first quarter of 2024, implement essential changes to container sailing to further increase the service level and reliability. The changes include improved services with shorter transit time from the UK, Monday arrivals in Reykjavík for import from Denmark and Sweden, and weekly coastal service in Iceland with increased service. Sailings on the North America route are simplified and support the fresh fish services. Also, there is increased service from northern and western Norway to the Faroe Islands and to North America and a direct connection provided from the Faroe Islands to Germany.   

The digitalization and automation of processes are key elements in the continued development of Eimskip’s services. The Company continues to adapt to customers’ needs in a fast-changing technical environment where self-service elements are increasingly important. A strong focus on information technology and potential synergies between systems and teams plays a vital role in Eimskip’s proactive commitment to service excellence.

Eimskip continues to invest in technology platforms to support customer service strategically better. This includes a Microsoft Customer Engagement solution, new liner and forwarding operation systems, container management system, global financial reporting, planning platform, and more.


As a company, Eimskip wants to contribute to a better and safer society wherever it operates, and responsibility towards the community is an integral part of the sustainability policy. 

The Company supports various projects, charities, sports activities, culture, innovation, and projects centered on preventive measures. The Company is very proud of the bicycle helmet project, which began in 2004. Ever since, Eimskip, in cooperation with Kiwanis, has given all six-year-old children in Iceland bicycle helmets and safety reflectors to contribute to youth safety. Around 80,000 children have received a helmet.

Eimskip and Landsbjörg (Icelandic association for search, rescue & injury prevention) signed a cooperation agreement making Eimskip one of Landsbjörg’s main sponsors. Eimskip is very proud to take part in Landsbjörg’s critical association, and through the years, the Company has often relied on their service and therefore knows firsthand the importance of their work. The agreement focuses on supporting rescue work and prevention at sea and on land, as Eimskip places great emphasis on safety and prevention in its daily activities. Eimskip and Landsbjörg held a family event at Sundahöfn to encourage increased usage of helmets. Many cheerful kids and their families came to the event where they, for example, tried on helmets and learned how to adjust them correctly. Eimskip also supported transportation of the rescue ship “Sigurvin” to its destination in Siglufjördur, a small town in the north of Iceland.  
Eimskip Denmark has for the last 7 years cooperated with the Youth Center, a part of the job center in Aarhus municipality by offering internships to young people who have been on the margins of the labor market. The target group comprises activity-ready young people who are furthest away from the labor market. The interns get a job in Eimskip’s warehouse in Denmark where they have their mentors and follow an individual career plan. With the partnership with Aarhus municipality, Eimskip supports the important personal development of these young people in this untraditional program. 


Eimskip strives to ensure an open and transparent relationship between the Company’s management, its Board of Directors, its shareholders, and other stakeholders.  


It is essential that the Company values and maintains the trust with coworkers, customers, and suppliers. The Company strives to ensure an open and transparent relationship between the Company’s management, Board of Directors, shareholders, and other stakeholders. 

“74% of the employees have undergone training and affirmed compliance with the Code of Conduct”

Eimskip is committed to combating corruption and bribery. The Company’s management and employees strive to always comply with applicable laws and regulations. The Company has rules and general standards of business ethics and corporate governance to avoid conflict of interest and maintain confidentiality. The Company’s internal control and risk management are intended to spot abnormalities, including the risk of corruption and bribery. Eimskip’s policy on Anti-corruption and bribery is integrated in the Company’s Code of Conduct, www.eimskip.com.

The Code of Conduct underwent a thorough review in 2023 and was reintroduced to all employees. 74% of the employees have undergone training and affirmed compliance with the Code of Conduct. The Company’s Code of Conduct is available in four languages: Icelandic, English, Danish, and Swedish.  

Eimskip has a speak-up program in place, e.g. through the Whistleblower Procedure. The speak-up program encourages transparency and accountability and aims to investigate all reports of alleged misconduct and protect the anonymity of the whistleblowers. Furthermore, Eimskip’s Anti-Money Laundering and Sanction Policy prohibits anyone employed by Eimskip from participating in money laundering, terrorist financing, and sanction breaches.  

The Company conducted the yearly training regarding competition law. All employees globally with direct contact with customers and suppliers must complete the training. The training is also available through the Eimskip digital learning platform.


Good partnerships with suppliers are beneficial, and risk management of the value chain is essential. The Company reviewed and updated the Supplier Code of Conduct and Procurement Policy in 2023. The Company has designed a self-assessment tool based on the Ten Principles of the UN Global Compact, with a focus on e.g. Health and Safety, Human Rights, Labor, Business Ethics, and the Environment.

Suppliers with 80% spend globally received the Company’s Supplier Code of Conduct and a self-assessment based on the Ten Principles of the UN Global Compact. Furthermore, the largest suppliers in Norway have gone through the same process due to confirmation of the Norwegian Transparency Act for Human Rights. 39% of the target group, with 80% of the Company’s spend, has complied with the Supplier Code of Conduct and confirmed supplier self-assessment.

Eimskip has taken significant steps to identify risks in the value chain by putting forward a policy, identifying a target group, and beginning the evaluation of suppliers. In 2024, the work will continue, and more focus will be put on identifying, assessing, monitoring, and mitigating potential risks.


Eimskip is committed to legally, fairly, and securely processing the personal data of customers, employees, business partners, and other stakeholders. Eimskip strives to comply with applicable data protection laws. All personal data used in business operations must be handled following global privacy and internal policies. The Company has identified suppliers that process data on behalf of Eimskip, and the first group of suppliers has been sent self-assessments. Eimskip has defined Data Security Classification to identify, categorize, and protect content according to its sensitivity or impact level to protect the data from unauthorized disclosure, alteration, or destruction. Eimskip is now working on informing employees of this classification and marking selected content with appropriate classification levels. The focus in ongoing for 2024. 


Eimskip’s ESG statement is published on www.eimskip.com. It is based on the Nasdaq ESG Reporting Guide, focusing on 30 environmental, social, and governance performance indicators. The statement is confirmed each year by Klappir Green Solution hf. Furthermore, the emission from the vessels is confirmed yearly by Verifavia. 


As a part of Eimskip ESG sustainability risk assessment, the Company has identified the SDG (UN Sustainability Goals) that align with the Company’s values and goals. The Company has prioritized the SDG goals where it can have environmental or social impact. The contribution in 2023 is displayed and evaluated each year, and targets are reset. 

Climate change
Eimskip target is to become Net Zero before 2040

Our contributions in 2023 to SDG 13 Climate
Changes in the Eimskip sailing system with the goal of reducing the environmental impact of vessel operation
The vessel hulls for Bruarfoss and Dettifoss were painted with a special paint that reduces the vessel’s resistance while sailing 
Three new electric trucks and one methane truck were delivered. 

Health and safety
Net zero accident policy 

Our contributions in 2023 to SDG 3 Good health and wellbeing and SDG 8 Decent work and economic growth
Ensuring our employee’s health and safety
Annual prevention meetings attended by all employees in the target group
Continue to promote employee’s well-being
The annual safety week was held

Business ethics
100% compliance with the Company’s Code of Conduct

Our contributions in 2023 to 16 Peace, Justice, and strong Institutions
The Code of Conduct underwent a thorough review
74% of employees have undergone training and affirmed their understanding and compliance with the Code of Conduct
Competition law yearly training with target group

Procurement program 
Compliance with the Supplier Code of Conduct and ESG Self-assessment from suppliers with about 80% or the Company’s total spend

Our contributions in 2023 to SDG 8 Decent work and economic growth and 12 Responsible Consumption and Production
39% of target group has confirmed 

Gender equality
Women in management at least 40%

Our contributions in 2023 to SDG 5 Gender Equality
The number of women in management has increased from 31% in 2022 to 33% in 2023
Equal Pay re-certification reevaluated.
Participants in the Leadership program were fully gender balanced


Key Highlights





The economic value generated by Eimskip’s operations in the year 2023 amounted to EUR 829.9 million, consisting of revenue, gain on sale of assets and finance income. The economic value has been contributed in many ways to the societies in which the Company operates, such as through salaries to employees, payroll taxes to authorities, purchase of goods and services from suppliers etc.


EUR million

The total tax footprint of Eimskip amounted to EUR 84.4 million in the year 2023 of which EUR 34.9 million was born by the Company and EUR 49.5 million was collected on behalf of local authorities. For comparison, the Company’s total tax footprint was EUR 82.9 million in 2022.

The Company’s taxes borne include corporate income tax of EUR 10.6 million, employment taxes in the amount of EUR 18.5 million, property taxes of EUR 2.6 million and other contributing factors amounting EUR 3.2 million. Collected taxes include employment taxes borne by employees amounting to EUR 35 million, and other collected expenses of EUR 14.5 million.