Smyril Line believes in new growth

Despite the financial crisis, the Faroese Smyril Line believes in growth in coming years in both passenger transport and cargo shipping.

According to the company’s CEO Peter Holm, the company has left 2008 with greater strength and 2009 also looks positive, estimated from pre-bookings. The Faroese shipping company has for several years suffered from bad financial management and too widely spread services, for instance to Shetland Islands and Bergen in Norway. In 2008 the shipping company made a profound turn around, backed by potential investors. In addition, Smyril Line got a new management and a board led by the former CEO of Torm, Klaus Kjærulff as chair.The new management has reorganised the shipping company and simplified the service net, so that from now on, 9 out of 12 months a year there will be a service every Saturday between Esbjerg, Tórshavn and Seydisfjordur in Iceland. During the height of the season in June, July and August, the service will call at Hanstholm instead of Esbjerg. The latter is created for Norroöna to make a double trip every week. Previously, Hanstholm was the regular port of call for Smyril Line all year, but the call at Esbjerg for most of the year gives new and greater possibilities of reaching large European cities, including Copenhagen, within reasonable time.

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