Whaling season cancelled for second consecutive year in Iceland
Iceland's largest whaling company – Hvalur hf. – will not be hunting this season. This marks the second consecutive year that the company has opted out of whaling during the summer season.
Although Hvalur is not the only whaling company in Iceland, it is by far the largest, holding a permit for the hunting of 200 fin whales this season. Its CEO, Kristján Loftsson, says his staff have been informed of the decision, which was made due to the global economic situation.
'Given the current economic situation, Hvalur HF sees no other option but to stay docked and wait for better days. The situation will be reassessed next year,' said Loftsson, speaking to Icelandic media.
Loftsson says the economic situation in Japan – where Hvalur HF sells almost all of its products – such as inflation, have reached a point where whaling is no longer economically viable.
'The product price developments in our main market, Japan, have been unfavourable recently and are getting worse,' he said. 'The price of our products is now so low that it is not justifiable to hunt.'
Last year, whaling did not take place either. In a highly politicised move, Svandís Svavarsdóttir, who was then the Left-Green Minister for Agriculture and Fisheries, issued the season's permit only one day before it was scheduled to begin.
Loftsson says that late issuance of the permit made it impossible for the company to properly plan and execute their operations in 2024.
Whaling remains a hot-button issue in Iceland, with the general public essentially split on whether or not they support the practice.
Iceland, Norway, and Japan are currently the only countries that still permit the controversial practice of whaling.
The whaling season in Iceland typically runs from mid-June to September. However, in recent years, Icelandic whalers have been struggling to meet their quotas.
Iceland's second largest whaling company, IP-Utgerd ceased operations in 2020, citing declining profits and demand for whale meat facilitated by the COVID-19 pandemic.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Network
a day ago
- Fashion Network
Procter & Gamble replaces CEO Moeller with COO and long-time executive Jejurikar
The Cincinnati, Ohio-based company has a history of relatively short CEO terms, dating back to the mid-1990s. Moeller's predecessor David Taylor was CEO for six years, two of which were during the Covid pandemic when consumer goods companies faced product shortages and supply chain snags. Taylor then served as executive chairman of the board. Under Moeller, the company navigated a post-pandemic sales boom, as well as rising expenses and sticky inflation. P&G shares gained roughly 13% during his four-year tenure, in line with the S&P 500 index. The company, which makes Pampers diapers and Head & Shoulders shampoo, in April warned of higher product prices due to an increase in input costs from the trade war at a time of weakening consumer spending. Its stock is down about 6% so far this year. In June, the company said it would cut 7,000 jobs over the next two years and exit some product categories and brands in certain markets, including some potential divestitures, as part of a broader two-year restructuring plan. "It might not mean much to the outlook since they're promoting from within," said Brian Jacobsen, chief economist at Annex Wealth Management, which holds P&G shares. "This could be more like the passing of the baton in a long race rather than shaking things up." Jejurikar's appointment, effective January 1, 2026, keeps up with P&G's preference for naming internal candidates for the top job. Moeller had also risen through the ranks before becoming the COO and then CEO of the company. The board has nominated Jejurikar as a director at the annual shareholder meeting in October 2025. Jejurikar has held roles across multiple P&G businesses, including Health & Beauty Care and P&G Professional. Prior to his current role, he was the head of P&G's Fabric & Home Care, which includes brands such as Tide, Ariel and Downy.
Fashion Network
a day ago
- Fashion Network
Procter & Gamble replaces CEO Moeller with COO and long-time executive Jejurikar
Procter & Gamble CEO Jon Moeller is stepping away from the top job after four years in the role, and the consumer goods giant said he would be succeeded by Chief Operating Officer Shailesh Jejurikar. Moeller will become executive chairman and "provide advice and counsel to the CEO on company matters," P&G said in a statement on Monday, a day before it was scheduled to report its quarterly results. The company did not disclose the reason for the change in leadership in its statement, but P&G chief communications officer Damon Jones told Reuters Moeller's departure was part of a planned and orderly transition made by the board. There were no health concerns leading to Moeller's departure, he said. The Cincinnati, Ohio-based company has a history of relatively short CEO terms, dating back to the mid-1990s. Moeller's predecessor David Taylor was CEO for six years, two of which were during the Covid pandemic when consumer goods companies faced product shortages and supply chain snags. Taylor then served as executive chairman of the board. Under Moeller, the company navigated a post-pandemic sales boom, as well as rising expenses and sticky inflation. P&G shares gained roughly 13% during his four-year tenure, in line with the S&P 500 index. The company, which makes Pampers diapers and Head & Shoulders shampoo, in April warned of higher product prices due to an increase in input costs from the trade war at a time of weakening consumer spending. Its stock is down about 6% so far this year. In June, the company said it would cut 7,000 jobs over the next two years and exit some product categories and brands in certain markets, including some potential divestitures, as part of a broader two-year restructuring plan. "It might not mean much to the outlook since they're promoting from within," said Brian Jacobsen, chief economist at Annex Wealth Management, which holds P&G shares. "This could be more like the passing of the baton in a long race rather than shaking things up." Jejurikar's appointment, effective January 1, 2026, keeps up with P&G's preference for naming internal candidates for the top job. Moeller had also risen through the ranks before becoming the COO and then CEO of the company. The board has nominated Jejurikar as a director at the annual shareholder meeting in October 2025. Jejurikar has held roles across multiple P&G businesses, including Health & Beauty Care and P&G Professional. Prior to his current role, he was the head of P&G's Fabric & Home Care, which includes brands such as Tide, Ariel and Downy.
Fashion Network
a day ago
- Fashion Network
Procter & Gamble replaces CEO Moeller with COO and long-time executive Jejurikar
Procter & Gamble CEO Jon Moeller is stepping away from the top job after four years in the role, and the consumer goods giant said he would be succeeded by Chief Operating Officer Shailesh Jejurikar. Moeller will become executive chairman and "provide advice and counsel to the CEO on company matters," P&G said in a statement on Monday, a day before it was scheduled to report its quarterly results. The company did not disclose the reason for the change in leadership in its statement, but P&G chief communications officer Damon Jones told Reuters Moeller's departure was part of a planned and orderly transition made by the board. There were no health concerns leading to Moeller's departure, he said. The Cincinnati, Ohio-based company has a history of relatively short CEO terms, dating back to the mid-1990s. Moeller's predecessor David Taylor was CEO for six years, two of which were during the Covid pandemic when consumer goods companies faced product shortages and supply chain snags. Taylor then served as executive chairman of the board. Under Moeller, the company navigated a post-pandemic sales boom, as well as rising expenses and sticky inflation. P&G shares gained roughly 13% during his four-year tenure, in line with the S&P 500 index. The company, which makes Pampers diapers and Head & Shoulders shampoo, in April warned of higher product prices due to an increase in input costs from the trade war at a time of weakening consumer spending. Its stock is down about 6% so far this year. In June, the company said it would cut 7,000 jobs over the next two years and exit some product categories and brands in certain markets, including some potential divestitures, as part of a broader two-year restructuring plan. "It might not mean much to the outlook since they're promoting from within," said Brian Jacobsen, chief economist at Annex Wealth Management, which holds P&G shares. "This could be more like the passing of the baton in a long race rather than shaking things up." Jejurikar's appointment, effective January 1, 2026, keeps up with P&G's preference for naming internal candidates for the top job. Moeller had also risen through the ranks before becoming the COO and then CEO of the company. The board has nominated Jejurikar as a director at the annual shareholder meeting in October 2025. Jejurikar has held roles across multiple P&G businesses, including Health & Beauty Care and P&G Professional. Prior to his current role, he was the head of P&G's Fabric & Home Care, which includes brands such as Tide, Ariel and Downy.
