The economic crunch has bowed down many countries and Iceland is no exception. It is reported that the fourth trawler, the Tomas, was landing into the port yesterday with 80 tonnes of line-caught cod and haddock after steaming more than 900 miles from its fishing grounds off Iceland.
Due to economic slides in international market Iceland banking industry has been collapsed and so the nation has been trying to make the most of its natural resources – especially fish – to keep money coming in. The chief executive of Grimsby Fish Dock Enterprises Martin Boyers, informed that fishermen had to balance the cost of fuel and taking five days out to steam to Grimsby against good prices and prompt payment.
He added that as good as it is at the moment we can never be complacent because it could all disappear. He also told that at the end of the day it will all come down to pounds, shillings and pence. There’s a fast payment system in Hull and Grimsby and good prices. Icelandic skippers opined that they had to keep the fish coming to pay crippling interest rates on business loans.
