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Smyril Line

Company nameSmyril Line
Company typeA/S (Aktieselskab)
HeadquartersTórshavn, Faroe Islands
Area servedNorth Sea
North Atlantic
Norwegian Sea
ServicesPassenger transportation
Freight transportation
Operating income(+) DKK 5.513 million (2009)
Net income(+) DKK 407.000 (2009)
Total assets(+) DKK 483.000 (2009)
Total equity(+) DKK 122 million (2011)

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Smyril Line is a Faroese shipping company, linking the Faroe Islands with Denmark and Iceland, previously, it also served Norway and the United Kingdom. Smyril is the Faroese word for the merlin.

Since 1983 the company has operated a regular international passenger, car and freight service using a large, modern, multi-purpose ferry named MV Norröna. The original vessel was a Swedish-built ferry formerly named Gustav Vasa (built in 1973). This was replaced by the Norröna, built in Lübeck, Germany in 2003. The large purchase price, some -100 million, gave the operator financial difficulties, and Smyril line eventually had to receive public support from the Faroese Government to stay afloat. Today the holding company is owned by Framtaksgrunnur Føroya (Faroese Development Trust) 33,6%, the Faroese Government 23,6%, TF Holding 20,7% and the Shetlands Development trust 6,8%, the remaining shared er owned by several minor stakeholders.

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