Company type | Public company |
---|---|
Industry | Holding company, commercial whaling |
Founded | 1947 in Reykjavík, Iceland |
Founders | Loftur Bjarnason, Vilhjálmur Árnason |
Key people | Kristján Loftsson (CEO) |
Hvalur hf. is an Icelandic commercial whaling and holding company.[1] Hvalur hf. was founded in 1947 as a commercial whaling company[2] by Loftur Bjarnason and Vilhjálmur Árnason and later run by their sons, Kristján Loftsson and Árni Vilhjálmsson.[1][3] In the recent decades, it has become one of the most powerful investment companies in Iceland, having owned large shares in Arion Bank, Marel, Origo hf. and Brim hf. amongst others.[4]
In 1948, the company purchased an American naval base at Hvalfjörður (Whale Fjord) and converted it into a whaling station. Norwegian crews were involved in training Icelandic whalers into the early 1950s.[5][6]
The company currently operates two whaling ships, Hvalur 8 and Hvalur 9. It further owns two more, Hvalur 6 and Hvalur 7, that where never fully repaired following the 1986 Hvalur sinkings.[7]
On June 20th, 2023, the Icelandic Minister of Fisheries, Svandís Svavarsdóttir, temporarily halted whaling until 31 August 2023 due to alleged violations of the Icelandic Animal Welfare Act by whalers of Hvalur ehf.[13] On 1 September the same year, whaling resumed again with stricter conditions.[14]