Eimskip Announces Sale of Lagarfoss Vessel
Eimskip has officially reached an agreement to sell its vessel, Lagarfoss, a significant part of the company's shipping fleet. Designed in 2014 in China, Lagarfoss has been a vital asset, serving Eimskip’s operations for more than a decade.
Details of the Sale Agreement
The buyer for Lagarfoss is Grupo Sousa, a prominent shipping company based in Madeira, Portugal. Grupo Sousa owns GS Lines, which operates six vessels providing essential shipping services between mainland Portugal, the Azores, Madeira, the Canary Islands, Cape Verde, and Guinea-Bissau. The delivery of Lagarfoss to its new owner in Reykjavík is scheduled between August and September, contingent on standard sale and purchase conditions.
Implications of the Sale
This transaction results in a financial loss for Eimskip, with a recorded loss of approximately EUR 3.4 million expected in the third quarter following the sale. The decision to sell reflects favorable market conditions for second-hand vessels and a strategic review of the company's sailing operations, particularly in light of recent developments with PCC Bakki’s temporary shutdown.
Operational Changes and Future Plans
With Lagarfoss leaving the fleet, Eimskip anticipates adjustments to its specialized coastal sailing schedule in Iceland. While this reduction in fleet size might seem concerning, Eimskip is committed to maintaining its excellent service to the domestic market, albeit with fewer coastal services available temporarily.
Maintaining Employment and Service Quality
In the wake of the sale, Eimskip aims to reassign the crew of Lagarfoss to other vessels within its fleet, demonstrating the company’s dedication to its employees. As the changes unfold, customers will receive timely updates about the service modifications to ensure clear communication throughout this transition.
Looking Towards a Positive Impact
Despite the operational shifts, current assessments suggest that these strategic changes could lead to positive outcomes in the short term for Eimskip. The company is focused on optimizing its operations while delivering quality service to its customers in Iceland.
Frequently Asked Questions
What vessel has Eimskip sold?
Eimskip has sold the vessel Lagarfoss to Grupo Sousa, based in Madeira, Portugal.
What will be the financial impact of the sale?
The sale will result in a loss for Eimskip, estimated at approximately EUR 3.4 million in the third quarter.
How many vessels does Grupo Sousa operate?
Grupo Sousa operates six vessels through its shipping company GS Lines.
What will happen to the Lagarfoss crew?
Eimskip plans to offer new positions to the crew of Lagarfoss on other vessels in the fleet.
Will Eimskip maintain service quality after the sale?
Yes, Eimskip is committed to providing excellent service, although it will have fewer coastal sailings available temporarily.
