Fishing firm Royal Greenland has received a new trawling vessel, concluding a series of five trawler purchases dating back to 2019 aimed at modernizing the firm’s fleet.
The Kaassassuk arrived in Nuuk on 28 July, and Royal Greenland highlighted that among several innovative technological features, the trawler features robot palletizing capabilities that entail automated stacking of finished product boxes on pallets, enhancing onboard efficiency and reducing the workload on crew members.
The new vessel, which was built in Bilbao, Spain, will specialize in coldwater prawn fishing and has a capacity of up to 10,000 metric tons (MT), according to a press release on the news.
"The vessel is designed to ensure high production quality and good working conditions for the crew," Royal Greenland Head of Trawler Operations Johan Berthelsen said.
Royal Greenland is the biggest fishing company in Greenland, and is owned by the Greenlandic government. The vertically integrated company has 10 trawlers that combined to fish 54,000 MT of products last year, and the arrival of the Kaassassuk marks the latest investment the firm has made to improve its global operations.
"If we want to continue taking responsibility when it comes to product quality, efficiency, responsible fishing, and working conditions, it requires continuous investment. Royal Greenland is committed to doing just that," acting Royal Greenland CEO Preben Sunke said.
The firm has suffered heavy financial losses over the past few years.
Its net profit before tax was a loss of DKK 196 million (USD 27.3 million, EUR 26.3 million) in FY 2024, marking a slight improvement over the DKK 255 million (USD 38.9 million, EUR 34.2 million) it lost in 2023. Net profit for 2024 worsened to a loss of DKK 265 million (USD 40 million, EUR 35 million), down from a loss of DKK 211 million (USD 32 million, EUR 28 million) in 2023.
In an attempt to reverse losses, the company has implemented a “Back to Black Action Plan,” involving cost-cutting measures which included closing locations in France, Norway, and Italy and reassigning or firing staff – including Susanne Arfelt Rajamand, who was fired earlier this year after having been named CEO in November 2022.
According to the firm’s annual statement for 2024, the cost of the five trawlers reached almost DKK 2 billion DKK (USD 307 million, EUR 268 million). The report said that the firm’s distant-water fleet is now fully revamped.
