Eimskip on large-scale European acquisition venture

Earnings increased significantly in the second quarter for Icelandic carrier Eimskip as the carrier heralds several European acquisitions before the end of 2016 along with an imminent collaboration with Royal Arctic Line to service Greenland.

Photo: Casper Dalhoff/Polfoto/Arkiv

Listed Icelandic shipping and logistics group Eimskip finished the second quarter with significant growth in operations and on the bottom line, at 21.6 percent and 58.7 percent, respectively. The improvements are mainly traced to increased cargo volumes in the core business, liner shipping on the Atlantic, while the company's forwarding activities declined by EUR 5.4 million.

According to its second quarter interim report, Eimskip is close to settling several European acquisitions before the end of 2016, just as the company expects a final decision concerning the announced collaboration with Greenland-owned Royal Arctic Line in the near future.

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