Fishing Company to Quit Trading with Icelandic Parties

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Fishing Company to Quit Trading with Icelandic Parties

Deutsche Fischfang Union (DFFU), the subsidiary of Icelandic fishing company Samherji, has decided to temporarily cease all trading with Icelandic legal entities. DFFU is suspected of having violated laws on currency trading, as reported last week.

cod_ipa

Icelandic cod. Copyright: Icelandic Photo Agency.

The company will not sell its products through Icelandic sales companies, seek the services of Icelandic companies or bring its catch to shore in Iceland, visir.is reports.

Also, DFFU feels forced to terminate its agreement on delivering materials for fish processing to Samerji’s plant in Dalvík, north Iceland.

In a press release, DFFU states that its ships were set to land approximately 3,500 tons of fresh gutted cod in Iceland in the period April 15 to September 1 this year.

The executives of DFFU say they regret having to make this decision but they don’t see any other way while it hasn’t been disclosed what wrongdoings the company is suspected of in Iceland.

The company’s executives believe it is too risky to continue its businesses in Iceland while they are suspected of legal violations by the Central Bank of Iceland’s currency surveillance board.

DFFU absolutely denies having committed any legal violations.

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ESA