Eimskip 'follows the fish' into new markets and nets strong third-quarter results

© Johann Ragnarsson

Reefer shipping line Eimskip continued to enjoy a strong 2016 in the third quarter, bolstering recent acquisitions aimed at expanding its global freight forwarding activity.

The Iceland-based company saw €134m in revenue, up 3.4% year-on-year, while net Q3 earnings increased by 10.7%, to €9.4m.

Eimskip’s transported volumes in its core North Atlantic market grew by 6.8%, thanks to growth in Iceland, the Faroe Islands and Norway.

Volumes from forwarding services grew by 4.7% in the quarter, but revenue was down 3.8% to €34.7m, due to ...