Kristján Loftsson has spent decades finding ways to keep Iceland’s whaling industry alive. The 83-year-old Icelandic millionaire’s latest idea is to turn whale meat into iron supplements. But he may soon face a problem no new product can solve.
On Aug. 29, Icelanders will vote on whether to restart negotiations to join the European Union. A “Yes” vote would reopen a path toward membership — and toward EU rules that prohibit the killing of whales. The EU’s Habitats Directive bans the capture or killing of all cetaceans, the category that includes whales as well as dolphins and porpoises.
For Loftsson, joining the bloc would almost certainly mean the end of the hunt. Loftsson is the driving force behind Icelandic whaling. His company, Hvalur hf., has operated on and off since 1947 and today runs the country’s only commercial whaling fleet.
Through the summer season, his two ships, the Hvalur 8 and 9, have been patrolling Icelandic waters to hunt fin whales, notching up over 50 kills so far. Iceland is one of just three countries, alongside Norway and Japan, that still permit commercial whaling. But the business has become increasingly difficult.
Icelanders, on the whole, do not eat whale meat. The country does not have a longstanding tradition of commercial whaling, and the practice is controversial even within its borders. A government report found that Hvalur’s whaling operations led to a loss of about 3 billion Icelandic krona, or €21 million, between 2011 and 2021.
Hvalur halted sales of whale meat to Japan, citing unprofitability. According to one government disclosure, the company was investigating the possibility of selling whale meat as feedstock for pigs and cattle. Loftsson is in search of creative solutions.
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