Iceland's Court of Appeal rejects Eimskip's claim that a protracted competition case against the shipping line is illegal. Conversely, the court holds that a district court must hear the company's former CEO, who wanted the case closed.
The Icelandic carrier maintains its expectation to land an operating result of almost EUR 63 million in 2017 after releasing its Q2 report. Exchange rate effects contribute to reducing the deficit on the bottom line, shows the report.
Eimskip could be hit by a labor strike unless the carrier is able to settle an agreement with its seafarers before Monday. Negotiations are still underway and the Icelandic carriers remains optimistic about resolving the matter.