Eimskip’s operating environment has been changing lately which requires increased optimization and focus. Therefore, the following organizational changes have been made.
Tuesday, January 29, 2019
The Board of Directors of Eimskipafélag Íslands has appointed Vilhelm Már Þorsteinsson as the company’s new CEO.
Tuesday, January 29, 2019
Last autumn, Eimskip temporarily offered a new route to Gdynia in Poland, which was well received by Eimskip's customers.
Wednesday, January 30, 2019
EBITDA forecast for the year 2018 EUR 60 to 65 million. Revenue EUR 664.0 million, up by EUR 150.1 million or 29.2% from 2016
Thursday, February 22, 2018
Eimskip is a registered participant of the UN Global Compact, the United Nation’s initiative for social responsibility with respect to human rights, labor, environment and anti-corruption.
Friday, February 9, 2018
Thursday, January 25, 2018
A - Business Iceland hosted ‘The Day of the Environment 2017’, held in Reykjavík on 12 October, where Eimskip presented the company’s environmental steps and results. In 1991, Eimskip became one of the first companies in Iceland to establish an environmental policy.
Friday, October 13, 2017
SECOND QUARTER 2017 EBITDA IN LINE WITH EXPECTATIONS
Friday, August 25, 2017
Seatours Eimskip have launched a new website and now all information about the ferries and bookings are available at one place. The goal is to simplify information and bookings for customers. The web was developed in collaboration with Vettvangur which designed and programmed it. A wide variety of tours reflects on the web but Seatours Eimskip operate four ferries which sail across Breiðafjörður, Faxaflói and to the Westman Islands. For further i…
Wednesday, July 19, 2017
The company was founded in 2003 and its headquarters are located in Aarhus, Denmark. The current management team will continue to own 25% of the shares in the company and will manage its operations.
Thursday, June 8, 2017
REVENUE GROWTH 29.7% IN FIRST QUARTER 2017
EBITDA EUR 9.3 million, good organic growth and strong performance of new acquisitions but negative effect of fishermen strike
Tuesday, May 23, 2017
Eimskip has strengthened its position with an acquisition of a 51% stake in CSI Group LLC (Container Services International), a company with headquarters in Boston, USA, specialized in the re-marketing of container and shipping related assets. With the acquisition, Eimskip is tapping into a great know-how in container purchasing, leasing and trading of second hand units. The investment is around EUR 1.0 million.
Thursday, April 6, 2017
Eimskip‘s Annual Report for 2016 has been published online and is available on Eimskip‘s website. By having the Report online, it is both environmentally friendly and it makes information on the company‘s activities in 2016 more accessible.
Thursday, March 23, 2017
Eimskip has decided to start calling Helsingborg in Sweden as of 4 May this year. The company will at the same time stop calling Halmstad which has been its port of call in recent years.
Tuesday, February 21, 2017
The highlight of the festival is the Eimskip container BIG JUMP. Containers stacked five high are the base for the insane ramp that is built in the middle of this peaceful winter wonderland in the far north of Iceland.
Wednesday, February 8, 2017
Eimskip will change its sailing system at the end of February in order to further strengthen its services to the company’s customers. There has been substantial growth in imported volume to Iceland during recent months which has created increased imbalance in the company’s sailing system. With these changes and an additional 700 TEU container vessel, the company’s capacity to and from Europe and North-America will grow by 7-11%.
Friday, February 3, 2017
Eimskip has been in negotiations with shipyards in China in relation to building of two 2,150 TEU container vessels. The company has finalized a contract with China Shipbuilding Trading Company Limited and Guangzhou Wenchong Shipyard Co. Ltd.
Wednesday, January 25, 2017
Eimskip has strengthened its position in worldwide reefer logistics services by acquiring 80% of the forwarding company Mareco N.V. The company was founded in 2002 and its headquarters are located in Antwerp, Belgium. The current management team will continue to own a 20% share in the company and will manage its operations. Mareco employs 26 people in two locations, 22 in Antwerp and four in Sao Paulo, Brazil.
Tuesday, January 24, 2017
Eimskipafélag Íslands (The Icelandic Steamship Company) was founded on January 17th 1914, making it the oldest shipping company in Iceland. Eimskip has from the beginning emphasized on shipping to and from Iceland, today offering total transport solutions around the world.
Tuesday, January 17, 2017
Eimskip signed a declaration on responsible tourism in cooperation with Festa, the Center for Corporate Social Responsibility and the Iceland Tourism Cluster. Responsible tourism is an incentive project where companies connected with tourism agree on a limited number of clear and simple measures of responsible tourism, but over 250 companies in Iceland signed the declaration. The purpose of the project is to maintain Iceland’s status as an optima…
Friday, January 13, 2017
Iceland Seaman’s Union and Eimskip have reached an agreement on wages for members of the union working on the company’s container vessels in liner services to and from Iceland. The strike called as of 16 January 2017 has therefore been cancelled.
The wage agreement was signed yesterday and is valid until year-end 2020.
Wednesday, January 11, 2017
Iceland Seaman’s Union and Eimskip have not reached an agreement regarding members of the union working on the company’s container vessels, representing a part of the vessels’ crew members.
Negotiations have been ongoing during recent months and Iceland Seaman’s Union has called a strike as of 16 January 2017, provided that an agreement has not been reached. Negotiations are still ongoing and Eimskip trusts that the parties will reach an agre…
Friday, January 6, 2017
With reference to a press release from Eimskip dated 2 November, the company emphasizes the following:
Eimskip has entered into an agreement to acquire the Norwegian shipping and logistics company Nor Lines. Nor Lines is a strategic fit in Eimskip’s core market and the overall transaction is asset-light. The final purchase price is subject to adjustments based upon the company’s financial statements for the year 2016. The approximate purchase pr…
Wednesday, November 16, 2016
Eimskip has entered into an agreement to acquire the Norwegian shipping and logistics company Nor Lines. Nor Lines is a strategic fit in Eimskip’s core market and the overall transaction is asset-light. The operation of Nor Lines has been challenging over the past years and the business will be restructured in order to improve the company’s services and profitability by aligning it with Eimskip’s current operations in Norway. The acquisition will…
Wednesday, November 16, 2016
Eimskip has decided to start calling Bremerhaven in Germany as of 6 December this year. The company will at the same time stop calling Hamburg, which has since the year 1926 been one of the company’s ports of call. This step is a part of developing the company’s sailing system, but the change gives the company’s customers better connections to other markets and the transit time gets shorter, besides having the heart of the German fish industry lo…
Wednesday, November 16, 2016
The company’s annual turnover is about EUR 19 million
Eimskip has strengthened its position in worldwide reefer logistics services by acquiring 90% of the forwarding company Extraco Internationale Expeditie B.V. in the Netherlands.
Extraco was founded in 1991 and is located close to the port of Rotterdam, the largest port of Europe. It services importers of chilled and frozen commodities in the Netherlands, as well as providing import handling,…
Wednesday, November 16, 2016
Today, Eimskip submitted offer in Part B of the public state tender for building and operating a new Westman Islands car and passenger ferry. According to the tender the new ferry should be delivered in mid-year 2018 and the company would then operate her until the year 2030. The total amount of Eimskip offer, for building the ferry and operating her for 12 years, is in the range of 8.1 to 9.4 billion ISK.
Wednesday, November 16, 2016
EIMSKIP: EBITDA growth 21.6% in second quarter 2016
Net earnings up by 58.7%
Revenue EUR 126.1 million, down by EUR 0.5 million or 0.4% from Q2 2015
Transported volume in the liner system up by 9.1% and liner revenue up by EUR 4.9 million
Volume in forwarding services down by 1.2% and revenue down by EUR 5.4 million, affected by lower international rates
EBITDA EUR 16.2 million compared to EUR 13.3 million, up by 21.6% from Q2 2015
Thursday, August 25, 2016
Forecast for 2016 raised to EUR 49 to 53 million
Revenue EUR 113.3 million, up by EUR 0.6 million from Q1 2015
EBITDA EUR 9.6 million compared to EUR 5.8 million, up by 66.5% from Q1 2015
Net earnings EUR 1.8 million compared to EUR 1.5 million, up by 21.1% from Q1 2015
Transported volume in North Atlantic liner services up by 8.1% from Q1 2015
Transported volume in forwarding services up by 5.9% from Q1 2015
Equity ratio 59.9% and net de…
Thursday, May 26, 2016
Eimskip and Royal Arctic Line A/S have signed a letter of intent to connect Greenland into Eimskip’s international sailing system through a capacity sharing agreement, connecting Greenland to the rest of the world. The two companies intend to work together through capacity sharing on larger vessels that will increase efficiency and service reliability.
The companies will invest in and operate container vessels designed and built for the special…
Wednesday, May 18, 2016
The European Seafood Exposition is held in Brussels from April 26th to 28th. More than 26,600 buyers, suppliers, media and other seafood professionals from over 140 countries, the European Seafood Exposition and Seafood Processing Europe is the world's largest seafood trade fair.
Wednesday, April 27, 2016
The specialised harbour crane Jarlinn will be a milestone in transportation through the Westman Islands harbour in Iceland. The crane's location in the Westman Islands will enable vessels without a crane, which are considerably more inexpensive to operate, to sail on Eimskip's Yellow Line. Eimskip has also chartered a vessel, to be named Bakkafoss, to serve on the Yellow Line. Bakkafoss is of the same type as the vessel Lagarfoss, constructed and…
Sunday, March 27, 2016
In light of the conclusion of the Authority of Consumers and Markets (ACM) in The Netherlands Eimskip wants to present the state the following facts.
ACM in The Netherlands has been investigating the Dutch coldstore market with special emphasis on fruit juices, vegetables, fish and meat for the period of 2006-2009. A Dutch holding company, owned by A1988 hf. was the owner of the coldstore company Daalimpex B.V. for the period from January 2007 u…
Thursday, March 24, 2016
The International Maritime Organization (IMO) has adopted new regulations under the Safety of Life at Sea Convention (SOLAS) that require shippers to
provide a verified gross mass (VGM) for every container prior the container being loaded on a vessel. These new requirements become effective
worldwide on 1st July 2016.
For more info click here. The International Maritime Organization
Wednesday, March 23, 2016
Portland photographer Justin Levesque travelled with Eimskip from Portland to Iceland and documented his experience in photos and with a podcast.
He was interested in the life on board.
Friday, January 22, 2016
Operating revenue EUR 129.7 million, up by EUR 10.1 million or 8.5% from Q3 2014
EBITDA EUR 16.4 million compared to EUR 12.6 million or up by 29.5% from Q3 2014
Net earnings EUR 8.5 million compared to EUR 7.5 million or up by 12.7% from Q3 2014
Transported volume in North Atlantic liner services up by 2.8% from Q3 2014
Transported volume in reefer forwarding services up by 1.0% from Q3 2014
Equity ratio 61.0% and net debt EUR 52.5 million…
Friday, November 20, 2015
The world largest Global Transportation Conference was recently held in China. One of the most interesting topics among the attendees this year is the possibility of the Arctic rout opening up for transportation of goods from Asia to Europe. At the conference, Gylfi Sigfusson, President and CEO of Eimskip had a good meeting with Li Yunpeng, President of the Chinese cargo shipping company COSCO. Eimskip and COSCO have had a successful cooperation…
Monday, November 9, 2015
A container vessel is added to the fleet and the Gray Line expands. Eimskip will in the middle of October make changes to its sailing schedule where the services of the Gray Line will be expanded. The Gray Line has since February 2014 served between the Faroe Islands and Scotland, but the line's role will become more extensive than before with an additional chartered vessel of 500 TEU. The Gray Line will continue its services between the Faroe Is…
Friday, October 2, 2015
A New England Ocean Cluster House has been established in Portland, Maine. It is the product of a partnership between Portland officials and investors both in Portland and Iceland.
Wednesday, September 30, 2015
At the 28 of June, Iceland will celebrate that 35 years ago Vigdís Finnbogadóttir was the world´s first democratically elected female head of state. One of the highlights of the celebration is when Icelandic birch will be planted in all communes in Iceland. In Ms. Finnbogadottir’s presidency she always planted birch, when visiting the regions.
Eimskip contributes to the celebration by transporting the birch all around the country.
Wednesday, August 5, 2015
Yesterday evening a malfunction occurred in the vessels steering gear on the vessel´s route to Reykjavik at the location about 70 nautical miles south east of the Icelandic coast. Weather conditions were favourable and no danger to crew, cargo or the vessel under the circumstances. A decision was made to sign a contract with the Icelandic Coast Guard to assist M/V LAGARFOSS to her destination Reykjavik under her own power. The Coast Guard vess…
Wednesday, August 5, 2015
Operating revenue EUR 126.6 million, up by EUR 17.6 million or 16.2% from Q2 2014
EBITDA, EUR 13.3 million compared to EUR 11.0 million or up by 20.4% from Q2 2014
Net earnings EUR 5.5 million compared to EUR 4.6 million or up by 20.1% from Q2 2014
Transported volume in North Atlantic liner services up by 6.9% from Q2 2014
Transported volume in reefer forwarding services up by 20.5% from Q2 2014
Equity ratio 61.3% and net debt EUR 40.0 milli…
Wednesday, August 5, 2015
Operating revenue EUR 112.7 million, up by EUR 8.5 million or 8.1% from Q1 2014Operating profit, EBITDA, EUR 5.8 million compared to EUR 6.0 million in Q1 2014Net earnings EUR 1.5 million, improvement of EUR 2.3 million from Q1 2014Transported volume in North Atlantic liner services down by 3.2% from Q1 2014Transported volume in reefer forwarding services up by 4.1% from Q1 2014Equity ratio 62.9% and net debt EUR 30.3 million at the end of MarchE…
Thursday, May 21, 2015
Eimskip has acquired all shares in Seatours (Sæferdir ehf.) in Stykkishólmur, Iceland. Seatours offers sea-related tourist services and operates the boats Baldur and Særún in Breidafjördur. By the acquisition, Eimskip is taking steps in further strengthening its sea-related tourist services, but the company has in recent years operated the ferry Herjólfur on a time charter for the Icelandic Road and Coastal Administration (IRCA), serving sea tran…
Monday, May 4, 2015
The European Seafood Exposition was held in Brussels from April 21st to 23th. With exhibiting suppliers from over 70 countries, the European Seafood Exposition and Seafood Processing Europe is the world's largest seafood trade fair. The expo is an important forum for Eimskip to present the company and its current and new services and it's an important meeting point for current and potential customers. We thank all the many guests who visited us a…
Sunday, April 26, 2015
Reykjavík, April 8th 2015. Íslandsbanki and Eimskip have signed a loan agreement for EUR 10 million for the development of a 10,000 tonne capacity cold storage facility on company premises in Hafnarfjordur. The loan is for a term of 25 years. In addition, a credit line for EUR 12 million was signed in order to support further growth.The first phase of the new facility is expected to be ready for use next Autumn and the project finalised in the en…
Thursday, April 9, 2015
The Annual Report is available on-line and is accessible here
Thursday, March 26, 2015
Operating revenue EUR 451.6 million, up by EUR 17.7 million or 4.1% from 2013Operating profit, EBITDA, EUR 38.5 million, up by EUR 1.5 million or 4.0% from 2013Net earnings EUR 13.6 million, up by EUR 2.8 million or 25.8% from 2013Transported volume in North Atlantic liner services up by 7.9% from 2013Transported volume in reefer forwarding services up by 11.0% from 2013Equity ratio was 65.2% and net debt was EUR 24.9 million at the end of the ye…
Thursday, February 26, 2015
Eimskip has acquired the cold storage operation of St. Anthony Cold Storage Ltd. in Newfoundland and Labrador, Canada. The main services of St. Anthony Coldstore are discharging of fishing vessels, storage, and transportation of seafood. Eimskip has been calling St. Anthony since 2005 and with this acquisition the company will further strengthen its services and operations in relation to the seafood industry in Newfoundland and as well towards la…
Thursday, February 26, 2015
Eimskip Denmark and Damco enter into strategic partnershipEimskip takes over the warehouse operation of Damco in AarhusEimskip will strengthen its position in warehouse services in Denmark by entering into a strategic partnership with Damco and taking over a 15,500 square meters warehouse operation. Eimskip has been operating a warehouse of 6,000 square meters and with the agreement with Damco, the merged warehouse will be 21,500 square meters in…
Monday, February 23, 2015
Eimskip has reached an agreement with VHE, Kælismidjan Frost ehf. and Sudurverk hf. of building a 10,000 ton cold storage facility on the harbor site in Hafnarfjördur, Iceland.The new cold storage is designed by the architect Anna Margrét Hauksdóttir at AVH Architects, together with consultants and designers at VSB, EFLA and VSÓ consulting.Considerable recent increases in the fishing and processing of pelagic fish, call for increased cold storage…
Monday, February 23, 2015
For the past few weeks Eimskip has been in discussion with the shareholders of Sæferdir ehf. about possible acquisition of the company and the parties have signed a letter of intent in relation to the potential transaction.Sæferdir operate two vessels at Breidafjördur in Iceland, the ferry Baldur, which sails between Stykkishólmur and Brjánslækur with a stopover in the island Flatey, and the vessel Særún which offers sightseeing tours in Breidafj…
Sunday, February 22, 2015
Eimskip has signed a purchase agreement for three lots at the industrial and harbor area in Grundartangi, Iceland. The total size of the purchased land is 22,410 sq. meters. A comprehensive construction is planned in this area by various parties and Eimskip intends to participate in it with the investment. Concurrent with the investment, the company has bought two new harbor cranes of the type TREX Gottwald GHMK 6507. One of the cranes will be lo…
Sunday, February 22, 2015
Eimskip has decided to combine its Green and Red Lines in the company's sailing schedule as from the middle of February.The Green Line has served between Iceland and North America with a port call in Sortland in Norway. Containers with origin in Europe and Scandinavia have been transshipped to the Green Line in Reykjavík. The Red Line has served between Iceland and Europe and on the coastal route in Iceland. Combination of the two routes forms th…
Monday, January 26, 2015
Eimskip and the company König & Cie. Holding GmbH & Co. KG in Germany have established a joint venture company named Eimskip & KCie GmbH & Co. KG. The new company will be specialized in ship management and trading. The ownership will be 80% by Eimskip and 20% by König & Cie.The new company will create synergy in vessel operation, including technical management, chartering, sale and purchase, new building projects and various o…
Monday, January 19, 2015
Eimskip has strengthened its position in worldwide reefer logistics services with an acquisition of the forwarding company Jac. Meisner Internationaal Expeditiebedrijf B.V. in the Netherlands.The company Jac. Meisner was founded in 1959 and is located in the port of Rotterdam. The company's main expertise is custom brokerage, veterinary and agricultural inspection and receiving and checking of frozen and chilled cargo with origin all over the wor…
Monday, January 5, 2015
Operating revenue EUR 119.6 million, up by EUR 6.1 million or 5.3% from Q3 2013Operating profit, EBITDA, EUR 12.6 million, up by EUR 0.5 million or 4.2% from Q3 2013Net earnings EUR 7.5 million, up by EUR 2.4 million or 48.0% from Q3 2013Transported volume in North Atlantic liner services up by 7.3% from Q3 2013Transported volume in reefer forwarding services up by 19.2% from Q3 2013Equity ratio was 64.0% and net debt was EUR 32.3 million at the…
Thursday, November 20, 2014
Our news from 10 October 2014 stated that new rules (Emission Control Areas / ECAs) for the sulphur emissions from ships would come into effect on 1st January 2015. The Regulation is based on the UN's resolution on more environmentally friendly marine shipping and involves reducing the amount of sulphur in oils. The permissible sulphur content in oils is at present 1% but will become 0.1%. The Regulation is implemented by the International Mariti…
Thursday, November 20, 2014
Eimskip has decided to embark on the construction of a high-tech, 10,000-tonne cold storage facility at its operating site in Hafnarfjörður. The decision is made in light of the considerable recent increases in the fishing and processing of pelagic species, which calls for increasing cold storage services. In addition, there is increasing demand for warehouse hotel services for frozen consumer goods. Since 1970, Eimskip has had operations in Hafn…
Thursday, November 6, 2014
Alcoa has renegotiated agreements with Eimskip following an international tender on stevedoring services for the smelter in Mjóeyri Harbour in Reydarfjordur for the next five years. Eimskip has provided these services for Fjardaál ever since the smelter started operations in 2007.Eimskip has already entered into investments of around two billion ISK (over 16 million dollars) in East Iceland related to the services for Alcoa Fjardaál and other ope…
Monday, October 27, 2014
In light of a statement published by the Icelandic Competition Authority on 15 October 2014, it is clear that the news of the alleged restrictive practices of Eimskip and Samskip is premature.The Icelandic Competition Authority claims in the statement that it cannot confirm the coverage in RÚV's Kastljós on Tuesday night. The Competition Authority also emphasized that the investigation has not reached the stage where its conclusion can be predict…
Thursday, October 16, 2014
Tuesday, October 14, 2014
As of 1 January 2015, new rules (Emission Control Areas, ECA) will apply to sulphur emissions from ships. The rules mean that shipping companies will be obliged to use fuel oil with a sulphur content no higher than 0.1%. These new rules apply to the majority of Eimskip's sailing routes and will inevitably have an impact on fuel costs. The regulation originates from the UN's resolution on more environmentally friendly marine shipping, which is imp…
Friday, October 10, 2014
The Competition Appeals Committee has ruled that the decision of the Icelandic Competition Authority of 3 June 2014 is rescinded. The Icelandic Competition Authority is ordered to grant Eimskipafélag Íslands hf., Eimskip Ísland ehf. and TVG-Zimsen ehf. access to the claim behind the dawn raid and an attached document, dated 9 September 2013, in such manner as further outlined in the ruling itself. This is the second time, in less than one year, w…
Tuesday, September 30, 2014
The Icelandic Fisheries Exhibition 2014 is being held September 25th to 27th. As usual Eimskip will be attending. The Icelandic Fisheries Exhibition was first held in the year 1984 and is one of the worlds leading events for those who want to keep up with the latest technology and developments in the industry. The show is an important forum for Eimskip to present the company and its service. This year Eimskips stand is nr. C52.We are looking forw…
Tuesday, September 9, 2014
The 875 TEU container vessel Lagarfoss, the newest addition to the Eimskip fleet, will make its maiden call to the port of Reykjavík on Sunday 17 August at 15:30.On 24 June, the container vessel was delivered in China to her Captain, Mr. Gudmundur Haraldsson, and his crew of 11 Icelanders.The vessel's deadweight is 12,200 tons, the length overall is 140.7 meters and the beam is 23.2 meters. The vessel is geared with two 45 ton container cranes an…
Sunday, August 17, 2014
Eimskip has signed a joint venture contract with the port authorities in the city of Qingdao in China, regarding operation of a 55,000 ton cold storage. The cold storage has been operated by A1988 hf., formerly known as HF. Eimskipafélag Íslands, since 2007.According to the joint venture contract, Eimskip will become a 30% partner in a new joint venture company where the port authorities will own 70%. Involvement of the Qingdao port authorities i…
Tuesday, July 1, 2014
Today, Eimskip's new vessel Lagarfoss was delivered in China. In June 2011 the agreement of the new vessel building projects was made. As the project got delayed, Eimskip and the shipyard negotiated a reduction of the total purchase price of both the vessel building projects in the amount of approximately USD 11 million. Negotiations on the delivery time of the second vessel are ongoing and will crystallize in the third quarter.The vessel was del…
Tuesday, June 24, 2014
FIRST QUARTER 2014 RESULTS ARE IN LINE WITH THE COMPANY'S EXPECTATIONS
Operating revenue EUR 104.2 million, down by EUR 1.1 million from Q1 2013
Operating profit, EBITDA, EUR 6.0 million, down by EUR 1.2 million from Q1 2013, as aresult of the new sailing schedule and adverse weather conditions in January and February
Transported volume in North Atlantic liner services up by 11.1% from Q1 2013
Transported volume in reefer forwarding service…
Thursday, May 22, 2014
The European Seafood Exposition will be held in Brussels from May 6th to 8th. With exhibiting suppliers from over 70 countries, the European Seafood Exposition and Seafood Processing Europe is the world's largest seafood trade fair. This year, Eimskip is located at stand 6138 in hall number 4. We look forward to seeing as many current and potential customers as possible!
Tuesday, April 22, 2014
Operating revenue EUR 433.8 million, up by 2.4% from 2012Operating profit, EBITDA, EUR 37.1 million, down by 9.1% from adjusted EBITDA in 2012Equity ratio was 65.5% at the end of the yearTransported volume in North Atlantic liner services up by 3.4% from 2012Transported volume in reefer forwarding services up by 7.9% from 2012The Board proposes a dividend payment representing 30.0% of net earnings for the yearForecasted EBITDA for the year 2014 i…
Friday, February 28, 2014
Eimskip has adjusted its sailing schedule, with the objective of increasing its reliability and services towards customers.Bad weather conditions during recent months have affected the reliability of the sailing schedule, especially the connection between Iceland and the Faroe Islands, transporting fresh fish to the UK and mainland Europe.A new sailing route, the Grey line, will be added to the North Atlantic sailing schedule and will be serving…
Thursday, February 13, 2014
Eimskip has decided to change the name of its subsidiary in Norway from Eimskip-CTG AS to Eimskip Norway AS. The purpose of the change is to simplify the marketing of Eimskip's services in its home market in the North Atlantic.Eimskip Norway has operations in Kirkenes, Tromsö, Sortland, Aalesund, Bergen and Fredrikstad.Concurrently, three of the six vessels being operated by Eimskip in Norway will be renamed after waterfalls in accordance with na…
Wednesday, January 29, 2014
Eimskip was honored by the presence of many guests from foreign companies at its 100th Anniversary celebration last week. Among them were representatives of COSCO, the largest shipping company in China and the fifth largest shipping company of the world.During the visit of COSCO, the companies signed a Cooperation Agreement with a special focus on transportation in the North Atlantic and international reefer forwarding. The companies also reached…
Tuesday, January 21, 2014
General Service Terms of Eimskip in Iceland entered into force on 6 December 2013. The terms can be obtained at www.eimskip.com under the sub-site Eimskip terms, along with Eimskip Terms and Conditions for Transport and other existing terms and conditions of the company. Existing terms and conditions define the legal status between Eimskip and its customers and shall apply to all services and all work undertaken by the company as appropriate…
Wednesday, January 15, 2014
On September 10th 2013 the Icelandic Competition Authority exercised a dawn raid at the premises of Eimskipafélag Íslands hf. and its subsidiaries, Eimskip Ísland ehf. and TVG-Zimsen ehf. Dawn raid was also exercised at the premises of Samskip and its subsidiaries. At the same day Eimskip requested access to the information behind the Competition Authority's request for court ruling. On September 13th the Icelandic Competition Authority declined…
Monday, January 6, 2014
The Icelandic Fisheries Conference 2013 began this morning. It is expected that 500 people will participate in the conference at Grand Hotel Reykjavik on November 21 and 22.This is the fourth consecutive Fisheries Conference and Eimskipafélagið is the main sponsor of the conference this time and presents its services for conference guests. The conference runs until 15:00 on Friday 22/11/2013
Thursday, November 21, 2013
Press here to open third quarter results 2013
Thursday, November 21, 2013
Google is now running an ad that was taken in Iceland. What is interesting about the ad is that it is supposed to happen on board a vessel from Eimskip. The ad was made partly by True North, Icelandic Film Company, which among other things worked at the latest Ben Stiller movie, Secret Life of Walter Mitty. Here you can see the ad.
Tuesday, November 19, 2013
Goðafoss came to Faroe Islands this morning at 3 am, decision on when she will continue route will be taken as soon as the extent of the repair is clear.Repair are still going - further information expected at 21.00
Tuesday, November 12, 2013
Gylfi Sigfússon, Eimskip CEO, is in China where he met with the Chinese government. In the meeting Eimskip and its operation was generally discussed. Attending the meeting also from Eimskip were Bragi Þór Marinósson, Óskar Sveinn Friðriksson and James Liu.Here below you can see coverage of the meeting in Chinese media.
Wednesday, November 6, 2013
Eimskip Poland has been awarded the AEO Certificate (Authorized Economic Operator) by Polish authorities. The highest level of the AEO Certificate has been given after several audits by Polish Customs, aiming to verify the compliance with customs rules, safety standards and financial health. The certification awards both Eimskip Poland and its customers various privileges in connection with customs clearance procedures e.g. fewer physical and doc…
Thursday, October 24, 2013
Creventic has announced to nominate Eimskip Nederland BV as their transport partner for transportation of their race cars to Dubai for the 9th edition of the 24h race in January. This will be the second time in a row and the 5th time in total that Eimskip will take care of the logistics for this unique race event. 70 containers have to be shipped from Europe and other parts of the world to Dubai in the end of November.For more informat…
Tuesday, October 8, 2013
Recently two state officials from the port of Portland, visited Eimskip in Iceland, along with a group of foreign journalists.
The purpose of the visit was to further strengthen the business relationship between the company and the port of Portland, Maine.
Thursday, September 26, 2013
Today Eimskipafélag Íslands hf., Eimskip Ísland ehf. and TVG-Zimsen ehf. submitted an appeal to the Competition Appeals Committee. The decision of the Icelandic Competition Authority of 13 September 2013, denying the companies access to information behind the Competition Authority's request for court ruling, was appealed. The companies claim the decision to be rescinded and that the companies will be granted access to the requested information an…
Tuesday, September 24, 2013
On Tuesday September 10th the Icelandic Competition Authority exercised a dawn raid at the premises of Eimskipafélag Íslands hf. and its subsidiaries, Eimskip Ísland ehf. and TVG-Zimsen ehf. on the basis of a ruling from Reykjavík District Court. In relation to the discussions on Eimskip public disclosure the Company wants to provide the below information.The Icelandic Competition Authority was granted an extensive permission to gather data…
Thursday, September 12, 2013
Eimskip's new vessels The first of two new container vessels of Eimskip was launched in Weihai in China last Sunday. The launching went well and it's expected that the vessel will be delivered in the beginning of January 2014, and that she will call her home port in Iceland the second quarter 2014.The second vessel is expected to be delivered in second quarter 2014.The vessels are sister-ships, designed and built based upon a German design and ad…
Friday, September 6, 2013
EIMSKIP ANNOUNCES SECOND QUARTER RESULTS AND PROVIDES 2013 GUIDANCE Operating revenue up by 1,2% from 2012 to EUR 108.1 millionOperating profit, EBITDA, amounted to EUR 9.8 millionEquity ratio was 63.9% at the end of JuneTransported volume in North Atlantic liner services up by 2.0% from 2012Transported volume in reefer forwarding services up by 5.4% from 2012Forecasted EBITDA for the year 2013 in range of EUR 36 to 4…
Friday, August 30, 2013
The President of Iceland was in Maine Friday, serving as keynote speaker for Maine International Trade Day. President Olafur Ragnar Grímsson said we all need to start tilting our world view to the north. The melting of the polar ice caps is opening a northern shipping route, one that is shorter than the traditional route to the south. It's one of the main reasons the Icelandic shipping company Eimskip has made Portland it's major U.S. port of cal…
Saturday, June 1, 2013
Eimskip published a magazine, about Eimskip and its operations, in relation to the European Seafood Exposition that was held in Brussel from April 23. to 25th. The magazine is now available online and can be found here.
Friday, May 31, 2013
NET EARNINGS IN FIRST QUARTER 2013 WAS EUR 2.5 MILLIONOperating revenue increased by 12.4% from 2012 and was EUR 105.3 millionOperating profit (EBITDA) was EUR 7.2 millionEquity ratio was 65.8% at the end of MarchTransported volume of liner services in the North Atlantic increased by 0.3% from 2012Transported volume of reefer forwarding services increased by 13.1% from 2012 GYLFI SIGFÚSSON, PRESIDENT AND CEOEBITDA of the first quarter of 201…
Thursday, May 23, 2013
Eimskip reduces purchase price of a new vessel building projectExpected delivery in the first half of year 2014In 2011 Eimskip and the shipyard Rongcheng Shenfei in China made an agreement of building two container vessels. Each vessel's size is 875 TEU, thereof each containing plugs for 230 reefer containers. Deadweight of each vessel is approximately 12 thousand tons. The vessels are 140.7 meters long and 23.2 meters wide.Originally the vessels…
Friday, April 26, 2013
Eimskip has acquired a 52.5% share in the trucking company E.T.S. B.V. (European Transport Services) which is located in Rotterdam in the Netherlands.The company was established to provide trucking services for Eimskip within the Benelux and neighboring countries. The company specializes in reefer container haulage and offers also various other forms of road transport, such as heavy transport solutions and other tailor made solutions.The company'…
Wednesday, April 24, 2013
Reykjafoss docked in Portland, Maine for the first time on Wednesday, 13th of March. The vessel was carrying empty containers and other equipment, from Norfolk, needed to get Eimskip operations in Portland up and running. Bangor Daily News covered this news and interviewed Gylfa Má Geirsson, newly appointed station manager of Portland, Maine operations. The article can be found here: http://bangordailynews.com/slideshow/eimskips-first-container-s…
Friday, March 15, 2013
Eimskip has decided to add Portland, Maine as a port of call in the end of March 2013, replacing the port in Norfolk, Virginia. The main objective of this change is to shorten transit time between North-America and Europe and to offer biweekly port calls. Today's paper frontpage: http://webmedia.newseum.org/newseum-multimedia/dfp/pdf11/ME_PPH.pdfToday's paper main article: http://www.pressherald.com/news/citys-new-cargo-service-set-to-deliver_201…
Monday, March 11, 2013
Eimskip introduces substantial changes in its sailing scheduleWeekly coastal sailings in Iceland with direct connection to UK and Mainland Europe and shorter transit time to and from USAWeekly coastal sailings with direct connection to UK and Mainland Europe Increased frequency and shorter transit time to and from USA Services twice a week for fresh fish from Iceland and the Faroe Islands Increased services for the oil industry with direct sailin…
Wednesday, March 6, 2013
Eimskipafélag Íslands hf.Financial Statement ReleaseEimskip's financial results 2012 are in line with the company's expectations Operating revenue was EUR 414.3 million Adjusted operating profit (EBITDA) was EUR 40.8 million Net earnings amounted to EUR 12.7 million Equity ratio was 63.7% at year-end Transported volume of the company's liner services increased by 3.4% from 2011 Gylfi Sigfússon, CEO Operational results of 201…
Thursday, February 28, 2013
Eimskip has sold freight ship Írafoss to Albania. Írafoss was built in 1991, 1890 tons in size, the ship had no crane on board and was the smallest ship in the company operation.The ship has been operating in Norway since 2010, its abilities were limited due the lack of crane on board.Írafoss sale is a part of the natural regeneration of the company's fleet. The Írafoss sale has minimal effect on the company.
Saturday, February 23, 2013
Jan Felix Grossbruchhaus has been appointed senior manager of Eimskip in Germany as of April 1st 2013.Jan Felix has been with MAERSK for the past 24 years, most recently as head of the Icelandic department and also as department head of reefer transport development in Germany.For many years Jan Felix has been MAERSK main contact with Eimskip and has therefore built up good relationships with many of our employees worldwide.Jan Felix graduat…
Friday, February 22, 2013
Eimskip will open a new office in Gdynia Poland as from 1st of March. Piotr Grzenkowicz has been hired as Managing Director of the office. Piotr has an extensive working and management experience in the field of Shipping and Transportation. He has been working for Morska Agencja Gdynia, for the past 20 years in various positions, latest as a Director for the Logistics Division. Piotr was an agent for Hapag-Lloyd Container Lin…
Tuesday, February 19, 2013
Press release from Eimskip Portland, Maine will replace Norfolk, Virginia as a port of call Shorter transit time and biweekly servicesEimskip has decided to add Portland, Maine as a port of call in the end of March 2013, replacing the port in Norfolk, Virginia. The main objective of this change is to shorten transit time between North-America and Europe and to offer biweekly port calls. In 2011 Eimskip added a new route to its sailing s…
Monday, February 11, 2013
Tuesday, November 20, 2012
NASDAQ OMX (NASDAQ: NDAQ) announces that the shares of Eimskipafélag Íslands hf. (ticker symbol: EIM) today start trading on the Main Market of NASDAQ OMX Iceland. Eimskipafélag Íslands (Eimskip) is a mid-cap company within the Industry sector. It is the fifth company to list on NASDAQ OMX Nordic main markets in 2012 and the second company to list on NASDAQ OMX Iceland in 2012.Eimskip traces its roots back to 1914, making it the oldest shipping c…
Friday, November 16, 2012
Eimskips vessel Polfoss has re-floated. A tug boat pulled her from the site and she was re-floated at about 11.15 local time. Polfoss will proceed by own power to Sandnessjoen where she will be inspected. After inspection she will continue on route to Alesund.
Friday, November 16, 2012
Today, 2 November 2012 at 16:00 a public offering of shares in Eimskipafélag Íslands hf. was completed. Straumur fjárfestingabanki hf. and Íslandsbanki hf. are joint listing advisors to the Company and the sellers. The price in the offering was predetermined at ISK 208 per share. Total subscriptions amounted to over ISK 11 billion, which is more than five times the value of the 5% stake offered for sale by Landsbanki Ísland hf., ALMC hf. an…
Friday, November 2, 2012
Press Release from Eimskipafélag Íslands hf.First day of a public offeringToday, Tuesday 30 October 2012, at 10.00 am a public offering of Eimskip's shares initiated. The offering will close at 16.00 pm on Friday 2 November 2012.Registrations take place through the website of Straumur fjárfestingabanki hf., www.straumur.com and the website of Íslandsbanki, www.islandsbanki.is.In relation to the public offering of shares in Eimskipafélag Íslands h…
Tuesday, October 30, 2012
Preliminary shareholders list following the results of the Book Building processWith reference to the results of the book building process, announced on 25 October 2012, following is the list of the 10 largest shareholders in Eimskip assuming that all transactions will be finalized. Investors' attention is drawn to the fact that the list is based on book building subscriptions and a shareholders list from the Icelandic Securities Depository dated…
Monday, October 29, 2012
Excess demand in Book BuildingFirst phase of the company's listing completedPublic offering starts 30 October 2012Executive management waive all share options Preparation for Eimskip's listing has been underway since the beginning of 2012. Straumur fjárfestingabanki and Íslandsbanki are joint listing advisors in relation to the offering. The first phase was completed today at 14:00 when offers from institutional investors subscribing f…
Thursday, October 25, 2012
Wednesday, October 10, 2012
Eimskip's operating revenue for the first half of the year 2012 was EUR 198.1 million compared to EUR 186.5 million for the first half of 2011. Taking into account a one off item in the year 2011 in the amount of EUR 6.4 million, operating revenue increased by 10.0% from previous year.
Wednesday, August 29, 2012
Changes in ownershipLífeyrissjóður verzlunarmanna acquires 14% share in Eimskip.Landsbanki Íslands and Yucaipa respectively sells 7% of their share in Eimskip.This transaction fits well with Eimskip's proposed listing on NASDQ OMX Iceland.The largest shareholders of Eimskip, Landsbanki Íslands and the American investment firm Yucaipa, have informed Eimskip of a transaction with their shares in Eimskip. Each party has sold 14 million shares to Líf…
Friday, July 13, 2012
Operating profit (EBITDA) for the first quarter was EUR 6.8 millionEimskip's gross turnover for the first quarter of 2012 was EUR 93.7 million compared to EUR 90.2 million in the first quarter of 2011. The EBITDA was EUR 6.8 million compared to EUR 12.9 million for the same period in 2011. The variation in the EBITDA is due to collection of an outstanding claim in the amount of EUR 6.4 million in Q1 2011, but the claim had previously been fully w…
Friday, May 25, 2012
Eimskip selects advisors to oversee preparations for the Company's public listing on NASDAQ OMX Iceland First day of trading anticipated in the last quarter of 2012Íslandsbanki and Straumur Investment Bank have been selected as advisorsEimskip has engaged Íslandsbanki and Straumur Investment Bank to act as advisors for the proposed listing of the Company on the NASDAQ OMX Iceland. Prior to the proposed listing, investors, along with the general p…
Friday, May 11, 2012
The European Seafood Exposition will be held in Brussels from April 24th to 26th. 2012 marks the 20th edition of the event growing throughout the years to become the most important global event for the seafood industry. This year, Eimskip is located at stand 6138 in hall number 4. We look forward to seeing as many current and potential customers as possible!
Wednesday, April 11, 2012
Eimskip's earnings after taxes for year 2011 were EUR 13.1 million, while operating profit (EBITDA) was EUR 43.2 million. Eimskip's total assets at the end of the year were EUR 283 million, with an equity ratio of 62.3%. Interest-bearing debt totaled EUR 62 million and cash was EUR 43.5 million. The total liner transport volume of the Group increased by more than 5% between 2010 and 2011.4Q 2011EBITDA for 4Q 2011 was EUR 8.6 million, while profit…
Thursday, March 22, 2012
Eimskip has acquired three reefer vessels, which were built in Aarhus, Denmark. The company has been chartering them since 2005.The three vessels have played a key role in Eimskip's reefer services, especially in transporting frozen seafood products in the North Atlantic.With this investment, Eimskip further strengthens the services and reliability of its North Atlantic liner system, particularly its current position in the Norwegian…
Thursday, March 1, 2012
We wish Gottskálk Kristjánsson and the Eimskips quire congratulations for a great song and a great performance.Eimskip Iceland received a challenge, a challenge from Mental Health Alliance in Iceland. The challenge was to record and direct a christmas song for a live tv show. The main coal is to support a non-profit NGO in Iceland supporting and promoting positive mental health.press the image here below to listen to the Eimskips christmas song.U…
Wednesday, December 21, 2011
Eimskip Netherlands has moved to a new locationThe new address is : PortCity IWaalhaven Z.z. 213089 JH RotterdamP.O.Box 541913008 JD RotterdamThe Netherlands
Monday, December 19, 2011
The board of directors of Eimskipafélag Íslands hf. has resolved to prepare the Company for listing on the NASDAQ OMX Iceland. The goal is that trading of shares in Eimskip on the stock market NASDAQ OMX Iceland can start in the later part of the year 2012.The objective of the listing is to establish distributed ownership of shares in the Company. The aim is to offer shares both to institutional investors as well as private investors.E…
Wednesday, December 14, 2011
Operating profit (EBITDA) for the first nine months of the year 2011 was EUR 34.5 million Net earnings were EUR 12.5 million Eimskip's earnings after taxes for the first nine months of 2011 were EUR 12.5 million, while operating profit (EBITDA) was EUR 34.5 million. The company's total assets at the end of September were EUR 284 million, with an equity ratio of 61.4%. Interest-bearing debt totaled EUR 65 million.Q3 2011Operating profit (EBITDA) i…
Friday, November 18, 2011
Eimskip has signed an agreement to build two new container vessels. It is estimated that the vessels will be delivered in the first half of 2013. The vessels will be built by Rongcheng Shenfei Shipbuilding Co., Ltd., China based on a German design, and supervised by Germanischer Lloyd. The vessel capacity is 875 TEUs (thereof 230 reefer containers), deadweight 12,000t, length overall 140.7m, breadth 23.2m, draft 8.7m, and service speed 18.3 knots…
Thursday, September 22, 2011
At 18.08.2011 almost 1600 tons of refractory stones and refractory cement were loaded on board vessel Svarfoss in two different compartments. The cargo was palletized and delivered by 80 trucks to the warehouse in Velsen. Together with the very good cooperation with CTG Norway, Eimskip Germany was successfully able to acquire and handle this project. The vessel left the port late evening of 18.08 with in total 2100 tons of cargo.
Monday, September 19, 2011
Eimskip's profit after taxes during the first half of 2011 was EUR 7.5m, and EBITDA was positive by EUR 23.6m. The company's total assets at the end of June were EUR 288m with an equity ratio of 58.7%. Interest bearing debts were EUR 66m. Q2EBITDA during Q2 was positive by EUR 10.7m and profit after taxes was EUR 1.7m. Total transport volumes in the company's liner systems increased by 2% between years.Gylfi Sigfússon, President/CEOEimskip is for…
Wednesday, August 31, 2011
A new vessel, Skogafoss, added to Eimskip's fleetImproved service to and from North-AmericaIncreased capacity in sailings to and from EuropeAs of July 15th, Eimskip will strengthen its liner operations in the North-Atlantic with the addition of Skogafoss, a 700 TEUs container vessel to its fleet of vessels. The North-American market will now be served by two vessels instead of one, bringing considerable increase in service to Eimskip's customers.…
Friday, July 1, 2011
EBITDA for the first quarter 2011 EUR 13 millionProfit after taxes was EUR 5,8 million Eimskip's gross turnover for 1Q 2011 was EUR 90,2 million, compared to EUR 79 million in 1Q 2010. The EBITDA was EUR 13 million, compared to EUR 7,7 million in 1Q 2010. The profit after taxes was EUR 5,8 million, compared to EUR 1,3 million in 1Q 2010. Eimskip's total assets at the end of March 2011 were EUR 283 million, with an equity ratio of 59%. Interest be…
Thursday, May 19, 2011
The European Seafood Exposition was held in Brussels from May 3rd to 5th. This is the largest seafood fair in the world, annually attracting buyers and sellers from over 140 countries from around the globe, with stands from more than 1.600 exhibitors.Eimskip introduced it's operations in Brussels, with a high number of conference guests stopping by. The company's brand new trade show booth was premiered, and attracted praise from onlookers for it…
Monday, May 9, 2011
Early this morning, Reykjafoss, Eimskip's dry lease vessel sustained an impact just outside Argentia, Newfoundland, harbour. The vessel's engine went out by the impact and Reykjafoss was towed to the harbour. There was no immidiate danger and no damage to the vessel has been detected apart from damage to the propeller. The vessel's cargo is secure and is being discharged and forwarded to it's final destination. Further information on the impact w…
Saturday, April 30, 2011
EBITDA for 2010 EUR 38,6 million Profit after taxes EUR 12.2 million Eimskip's gross turnover 2010 was EUR 365 million and the EBITDA EUR 38.6 million. Profit after taxes were EUR 12.2 million. Total assets at the end of the year are EUR 285 million and the equity ratio was 57%. Interest bearing debts were EUR 72 million. The total liner transport volume of the Group decreased by 0,4 % between 2009 and 2010, while at the same time, Eims…
Thursday, March 24, 2011
Following the earthquake and concequent Tsunami in Japan earlier this month, several shipping companies have issued notifications on their schedules in the area. In general it can be stated that all of the harbours in the Miyagi County area are closed and will stay closed for some time. Larger cities in this county include Sendai, Onahama, and Hachinohe which suffered servere damges.Operations in cities such as Nagoya and Kobe are ongoing,…
Tuesday, March 22, 2011
Updated Monday March 21st: After further inspection, it has been revealed that Godafoss suffered more damage in the grounding outside Fredrikstad than estimated at first. These days, work on cleaning the bottom is well under way, and then the repairs will commence.Eimskip will receive the vessel again on April 10th according to new estimates.______________________________ Update March 7th: Godafoss has arrived to Odense in Denmark, where the…
Monday, March 21, 2011
The Eimskip vessel, Godafoss, has run aground a few nautical miles off Fredrikstad, Norway. At this time the reasons for the grounding remain unclear.Oil spill from the ship has been detected. However, an oil containment fence has been put in place to minimize the effect on the environment. At this moment the volume of oil, already spilled, remains unclear.Representatives from marine salvage companies and the Norwegian coastguard and other specia…
Friday, February 18, 2011
Eimskip will change its port of call from Richmond, VA to Norfolk, VA towards the end of February. Eimskip has been calling the Port of Richmond since November 2006, but will now be conducting all terminal operations at Norfolk International Terminals (NIT), located in the third largest port on the East Coast. This is a very positive step forward in expanding Eimskip's business growth and services to US East Coast, says Gylfi Sigfusson…
Thursday, February 3, 2011
New Incoterms 2010 rules, which replace the Incoterms 2000 rules, entered into force on January 1, 2011. The aim of Incoterms 2010 is to simplify the rules, make them easier to use and mirror recent changes in international trade. The main feature is that two new incoterms rules, DAT and DAP, have replaced the Incoterms 2000 rules DAF, DES, DEQ and DDU.Incoterms is a set of definitions of custom of trade which sellers and buyers of goods agree to…
Wednesday, January 5, 2011
Eimskip China expanded its service network by opening a new office in Tianjin in December 2010. The office is located at the International Plaza of Tianjin city with six experienced employees.The Port of Tianjin is the sixth largest port in China, with an annual volume of around nine million TEU. Tianjin port is at the intersection of the Beijing and Tianjin urban areas and the Bohai rim economic area, with a short distance between northern and n…
Thursday, December 16, 2010
On December 3rd 2010, Eimskip launched new websites for its global network of offices. Each of the offices in the 16 countries worldwide now have their own representation on the internet, allowing each office to highlight the services locally, while at the same time emphasising on the total solutions Eimskip worldwide can offer to its clients.For further information regarding Eimskip's services locally or worldwide, please contact you…
Thursday, December 2, 2010
EBITDA for the first 9 months of 2010 is EUR 30 millionProfit after taxes is EUR 9,4 millionTransport volumes are stable between yearsEimskip's profits for the first 9 months of the year 2010 exceeds expectations despite difficult operational environment. Total turnover of the group is EUR 278 million and EBITDA is positive of EUR 30 million. Profit after taxes is EUR 9,4 million. Total assets at the end of September are EUR 289 million and the e…
Friday, November 19, 2010
Eimskip's Terms and Conditions for Combined Transport or Port to Port Shipment have been amended. The terms appear on Eimskip's Bills of Lading and Sea Waybills (both referred to as Transport Documents). Customers are advised to examine the terms in detail. Click here to read more.
Wednesday, November 10, 2010