Latest news with #KristjánLoftsson
Yahoo
16-05-2025
- Business
- Yahoo
Major whaling company makes stunning announcement about future plans: 'Could signal the beginning of the end'
Major Icelandic whaling company Hvalur has just announced that it will not hunt fin whales this summer, Mongabay reported. This announcement comes after a controversial decision by the government of Iceland to allow the company to operate, despite a total moratorium on whaling since 1986 by the International Whaling Commission. Iceland is one of three countries that still allow commercial whaling, along with Norway and Japan, which recently expanded operations. Hvalur cited the lack of demand from Japan as the reason it will not exercise its license to kill 209 fin whales this year. CEO Kristján Loftsson told Icelandic media Morgunblaðið that the price of Hvalur's fin whale meat in Japan is "unfavorable and is worsening," making it not commercially viable this year. "The market for Icelandic fin whale meat in Japan has been struggling for years — there is both a declining demand and a large stockpile of surplus of imported meat that remains unsold — so a lack of market in Japan is nothing new," Sharon Livermore, director of marine conservation at the U.S. advocacy group International Fund for Animal Welfare, told Mongabay in an email. "It's clear that killing hundreds of whales a year is an economic and environmental loser." Ending whaling would be a major win for the environment. These fascinating species are some of the most intelligent creatures on the planet, play a key role in regulating their ocean ecosystems, and are becoming increasingly rare because of centuries of whaling and the rapidly shifting climate. Ending their unnecessary hunting could help ensure that they are preserved for future generations. Fin whale hunting in Iceland has already been an on-and-off proposition for the last several years. There was no commercial fin whale hunting from 2019 to 2021, and in June 2023, Iceland's minister of food, agriculture, and fisheries suspended the activity in response to a report about how much whales suffer after being harpooned. Hvalur and another company, Tjaldtangi, were granted permission to resume operations last December, only for Hvalur to issue this announcement. However, minke whales are still being targeted. "The news that Hvalur hf. will not hunt fin whales this summer could signal the beginning of the end for whaling in the country," U.K. NGO Whale and Dolphin Conservation said in an email to Mongabay. Should we be actively working to kill invasive species? Absolutely It depends on the species I don't know No — leave nature alone Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
13-04-2025
- Business
- Yahoo
Whaling season cancelled for second consecutive year in Iceland
Iceland's largest whaling company – Hvalur hf. – will not be hunting this season. This marks the second consecutive year that the company has opted out of whaling during the summer season. Although Hvalur is not the only whaling company in Iceland, it is by far the largest, holding a permit for the hunting of 200 fin whales this season. Its CEO, Kristján Loftsson, says his staff have been informed of the decision, which was made due to the global economic situation. 'Given the current economic situation, Hvalur HF sees no other option but to stay docked and wait for better days. The situation will be reassessed next year,' said Loftsson, speaking to Icelandic media. Loftsson says the economic situation in Japan – where Hvalur HF sells almost all of its products – such as inflation, have reached a point where whaling is no longer economically viable. 'The product price developments in our main market, Japan, have been unfavourable recently and are getting worse,' he said. 'The price of our products is now so low that it is not justifiable to hunt.' Last year, whaling did not take place either. In a highly politicised move, Svandís Svavarsdóttir, who was then the Left-Green Minister for Agriculture and Fisheries, issued the season's permit only one day before it was scheduled to begin. Loftsson says that late issuance of the permit made it impossible for the company to properly plan and execute their operations in 2024. Whaling remains a hot-button issue in Iceland, with the general public essentially split on whether or not they support the practice. Iceland, Norway, and Japan are currently the only countries that still permit the controversial practice of whaling. The whaling season in Iceland typically runs from mid-June to September. However, in recent years, Icelandic whalers have been struggling to meet their quotas. Iceland's second largest whaling company, IP-Utgerd ceased operations in 2020, citing declining profits and demand for whale meat facilitated by the COVID-19 pandemic.
Yahoo
13-04-2025
- Business
- Yahoo
Whaling season cancelled for second consecutive year in Iceland
Iceland's largest whaling company – Hvalur hf. – will not be hunting this season. This marks the second consecutive year that the company has opted out of whaling during the summer season. Although Hvalur is not the only whaling company in Iceland, it is by far the largest, holding a permit for the hunting of 200 fin whales this season. Its CEO, Kristján Loftsson, says his staff have been informed of the decision, which was made due to the global economic situation. 'Given the current economic situation, Hvalur HF sees no other option but to stay docked and wait for better days. The situation will be reassessed next year,' said Loftsson, speaking to Icelandic media. Loftsson says the economic situation in Japan – where Hvalur HF sells almost all of its products – such as inflation, have reached a point where whaling is no longer economically viable. 'The product price developments in our main market, Japan, have been unfavourable recently and are getting worse,' he said. 'The price of our products is now so low that it is not justifiable to hunt.' Last year, whaling did not take place either. In a highly politicised move, Svandís Svavarsdóttir, who was then the Left-Green Minister for Agriculture and Fisheries, issued the season's permit only one day before it was scheduled to begin. Loftsson says that late issuance of the permit made it impossible for the company to properly plan and execute their operations in 2024. Whaling remains a hot-button issue in Iceland, with the general public essentially split on whether or not they support the practice. Iceland, Norway, and Japan are currently the only countries that still permit the controversial practice of whaling. The whaling season in Iceland typically runs from mid-June to September. However, in recent years, Icelandic whalers have been struggling to meet their quotas. Iceland's second largest whaling company, IP-Utgerd ceased operations in 2020, citing declining profits and demand for whale meat facilitated by the COVID-19 pandemic.
Euronews
13-04-2025
- Business
- Euronews
Whaling season cancelled for second consecutive year in Iceland
ADVERTISEMENT Iceland's largest whaling company – Hvalur hf. – will not be hunting this season. This marks the second consecutive year that the company has opted out of whaling during the summer season. Although Hvalur is not the only whaling company in Iceland, it is by far the largest, holding a permit for the hunting of 200 fin whales this season. Its CEO, Kristján Loftsson, says his staff have been informed of the decision, which was made due to the global economic situation. 'Given the current economic situation, Hvalur HF sees no other option but to stay docked and wait for better days. The situation will be reassessed next year,' said Loftsson, speaking to Icelandic media. Loftsson says the economic situation in Japan – where Hvalur HF sells almost all of its products – such as inflation, have reached a point where whaling is no longer economically viable. 'The product price developments in our main market, Japan, have been unfavourable recently and are getting worse,' he said. 'The price of our products is now so low that it is not justifiable to hunt.' Last year, whaling did not take place either. In a highly politicised move, Svandís Svavarsdóttir, who was then the Left-Green Minister for Agriculture and Fisheries, issued the season's permit only one day before it was scheduled to begin. Loftsson says that late issuance of the permit made it impossible for the company to properly plan and execute their operations in 2024. Whaling remains a hot-button issue in Iceland, with the general public essentially split on whether or not they support the practice. Iceland, Norway, and Japan are currently the only countries that still permit the controversial practice of whaling. The whaling season in Iceland typically runs from mid-June to September. However, in recent years, Icelandic whalers have been struggling to meet their quotas. Iceland's second largest whaling company, IP-Utgerd ceased operations in 2020, citing declining profits and demand for whale meat facilitated by the COVID-19 pandemic.
