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Iceland's last whaling company shrugs off threat of permanent ban - Finance news and analysis from Global Banking & Finance Review
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Iceland's last whaling company shrugs off threat of permanent ban

Published by Global Banking & Finance Review

Posted on September 14, 2026

2 min read

· Last updated: September 14, 2026

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Iceland's Last Whaling Company Unyielding Amid Ban Threats and Government Push

The Future of Whaling in Iceland: Industry, Legislation, and Public Opinion

By Jacob Gronholt-Pedersen

Government Actions and Legislative History

COPENHAGEN, Sept 14 (Reuters) - Iceland's last remaining active whaling company said it believed it could survive a renewed push to ban the practice, given that previous attempts to outlaw whale hunting had repeatedly failed.

The government said last week it would submit a bill in February that could permanently ban whaling, a move that would end the industry in one of only three countries, alongside Norway and Japan, that still allow commercial whale hunts.

Parliamentary Debates and Previous Bills

"Over recent decades, bills to ban whaling have been discussed in parliament a few times, but every time it ended in nothing," Loftsson told Reuters on Monday. "I think we have good support for whaling in Iceland."

A similar bill to ban whaling was submitted for consultation in Iceland's parliament in October 2023, but did not result in legislation. 

The Whaling Industry in Iceland

Company Operations and Seasonal Activity

Hvalur is Iceland's sole remaining whaling company still in operation. It operates two catcher boats and employs about 150 people during the whaling season, which runs from early June to late September.

Catch Numbers and Quotas

The company has caught 85 fin whales so far this season, Loftsson said, against a quota of 150 animals.

Public Opinion and Conservation Status

Divided Views Among Icelanders

Public opinion on whaling remains divided. Forty-one percent of Icelanders oppose the practice, one-third support it, and 26% are neutral, state broadcaster RUV reported in June, citing a Maskina poll for the Icelandic Nature Conservation Association.

Fin Whale Conservation Status

Fin whales, the second-largest animal on Earth and the main target of Iceland's whaling industry, are classified globally as "vulnerable" by the International Union for Conservation of Nature.

Status in the North Atlantic

In the North Atlantic, however, the species is listed as of "least concern", with populations considered healthy enough to sustain managed harvesting, according to the IUCN.

(Reporting by Jacob Gronholt-Pedersen; Editing by Ros Russell)

Key Takeaways

  • Hvalur hf. is Iceland’s only commercial whaling operator, employing around 150 people during the June–September season and has caught 85 of its 150-quota fin whales so far this year, supported by historical parliamentary inertia.
  • A permanent ban bill is slated for February 2027, but existing permits held by Hvalur—valid through 2029—may still allow continued operations even if the legislation passes.
  • While fin whales are globally listed as “vulnerable”, the North Atlantic population is assessed as “least concern”, with Iceland citing scientific sustainability and limited domestic demand—only around 2% of Icelanders regularly eat whale meat.

References

Frequently Asked Questions

What is Iceland's last active whaling company?
Hvalur is Iceland's sole remaining whaling company still in operation.
What is the potential impact of a permanent ban on whaling in Iceland?
A permanent ban would end the commercial whaling industry in Iceland, where only one company, Hvalur, remains.
How is public opinion in Iceland divided on whaling?
41% of Icelanders oppose whaling, one-third support it, and 26% are neutral, according to a recent poll.
Which whale species does Iceland primarily hunt?
The primary target is the fin whale, the second-largest animal on Earth.
How does the status of fin whale populations differ globally and in the North Atlantic?
Globally, fin whales are 'vulnerable' but are considered of 'least concern' in the North Atlantic where they are managed sustainably.

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