Sjókovin - Blue Resource leads the Faroese project, 'SmartFisk', which focuses on reducing the oil consumption in the Faroese fishing fleet

Sjókovin – Blue Resource will lead a new project focusing on minimizing oil consumption in the Faroese fishing industry. The project starts in May 2023 and runs for three years.

Reducing oil consumption in the fishing fleet is crucial and of great importance. Firstly, oil represents a substantial portion of the overall costs incurred by fishing operations. Additionally, the current high oil prices exert significant financial strain on the fleet's operations. Furthermore, the Faroe Islands have made a commitment to reducing emissions, and the fishing fleet constitutes a significant portion of the total emissions generated within the Faroese region. Thus, prioritizing efforts to decrease oil consumption within the fleet becomes vital for achieving both economic and environmental goals.

Although there is no publicly available data on oil consumption in the Faroese fishing industry, Sjókovin has conducted analyses in collaboration with shipowners, to assess oil consumption in the largest fishing fleet groups from 2019-2022.

This SmartFisk project builds on this work and now expands to focus on enhancing the registration and analysis of oil consumption in Faroese fishing vessels. The primary objective is testing, measurement, and eventual implementation of more specific measures aimed at reducing oil consumption.

The main purpose of the project is therefore to generate the necessary knowledge and awareness to reduce oil consumption in the Faroese fishing fleet.

The SmartFisk project receives funding from Fiskivinnugransking and is also financed by private funding from shipowners and Sjókovin.