Eimskip at a Glance
Eimskip is a leading transportation company in the North Atlantic providing container and reefer liner services with connections to international markets and is specialized in worldwide freight forwarding services with focus on frozen and chilled commodities.
Eimskip has been a niche player in North Atlantic transportation for over 100 years. The Company specializes in shipping, logistics, and supply chain management. The Company offers its customers sea, land, and air solutions, with a special emphasis on the handling and storing of all types of temperature-controlled cargo. Principal cargo includes frozen, salted, and fresh fish; aluminum; and a wide range of general goods, from heavy machinery to fruit and vegetables.
Over the years, Eimskip has built a network of its own offices and associates with links to its own shipping network, allowing it to provide customers with comprehensive logistics services worldwide.
Eimskip’s main business segments are liner services in the North Atlantic and international forwarding services. The liner services include ocean transport, terminal operations, chilled and cold storage facilities, warehousing, trucking and distribution, airfreight services, and agency services. The forwarding services include worldwide freight forwarding services for both reefer and dry cargo in cooperation with the Company’s own offices, its worldwide network of associates, and international deep-sea lines.
Eimskip is a publicly traded company, listed on Nasdaq Iceland. Eimskip currently operates 57 offices in 20 countries across four continents and employs about 1,600 people. The company operates 17 vessels sailing on different routes in the North Atlantic.
Mission, Vision and Values
Eimskip was founded on January 17th, 1914, when H.F. Eimskipafélag Íslands was established. Shareholders were approximately 15,000 – representing almost 17% of the Icelandic nation at that time.
Eimskip is a leading transportation company in the North Atlantic, connecting continents with weekly liner services between Europe and North America to and from Iceland, the Faroe Islands and Norway. Eimskip also provides worldwide forwarding services with special focus on frozen and chilled commodities. The Company’s vision is to provide excellence in transportation solutions and services.
Eimskip’s employees always observe the Company’s values: achievement, cooperation and trust.
ACHIEVEMENT
We simplify things for our customers. That’s how we achieve our goals.
- PROGRESSIVE
We're always thinking ahead. We are ambitious, driven by initiative to create and implement innovative solutions.
- PASSIONATE
We inspire others with our drive for excellence. We celebrate the big and small wins and aim for success.
COOPERATION
We offer outstanding solutions and services. We do that through cooperation.
- TEAMWORK
We believe our continued success and great achievements are only possible with teamwork and collaboration.
- POSITIVE
We have fun, we enjoy our work, we celebrate successes, and we’re team players.
TRUST
We show responsibility towards customers, shareholders, society and the environment. That’s how we earn trust.
- RESPONSIBLE
We're caring. We work for a better society, and to preserve and protect the environment. We strive to be a role model when it comes to responsibility and trust. - ACCOMPLISHED
We connect the world. We make the trip safe, we provide excellent service – and we have been doing it for 108 years.
Strategic Focus
The Company’s niche focus on transportation of frozen and chilled commodities has proven to be very fruitful and the Company is well positioned as a leading transportation company in the North Atlantic providing container and reefer liner services and worldwide freight forwarding services. The general consumer trend towards more fresh and chilled products such as seafood, farmed fish and fruits and vegetables and for environmentally friendly transportation solutions is met by the Company by offering reliable and competitive liner services and value added ancillary services such as efficient land transportation, warehouse and cold-store operations in key locations. For islands in the North Atlantic like Iceland and the Faroe Islands, transportation by sea is the most environmentally friendly way of shipping products and Eimskip therefore in a very good competitive position, with its strong vessels and capacity, to provide transportation with the least carbon footprint.
The Company has taken meaningful steps to simplify its structure, shorten lines of communication and significantly increase flow of information to all stakeholders offering employees added strategic direction and enabling better service to customers with a complete range of logistic services. Continued focus will be on a more holistic customer service and proactive sales.
Eimskip places emphasis on sustainability in its operations and on product development towards more environmentally friendly solutions and clearly sees a growing demand from its customers in that direction.
The Company works hard on achieving the ambitious goal set in 2015: to reduce its carbon footprint by 40% before 2030. The vessels account for 96% of the Company’s CO2 emissions and it is clear that energy transition is needed to reach that goal. Eimskip has a group of employees from various positions within the Company working together towards that goal.
For the last three years Eimskip has been investing in technology platforms to support customer service e.g. Microsoft Customer Engagement solution, a new system for our liner and forwarding operation, container management system and a new financial reporting and planning platform. This is very important to continue to develop the company, operate efficiently and provide excellent service. The Company will continue that digital journey to ensure excellent customer service leveraging on technical improvements and business and employee adaptability to change.
Greater emphasis has been on training and educating employees. Leadership training, development and succession planning play a vital part in ensuring a group of diverse leaders ready to take on new roles and responsibilities at all times. The focus will continue to be on supporting employee wellness with various measures.
Management’s attention and focus will continue to be on profitability of the core business and maintaining cost benefits from past years streamlining measures.
Finally, management will explore opportunities to develop and support further growth in strategic locations and areas.
Customer Service
Eimskip is renowned for its excellent service. The Company has a broad customer base and provides a wide range of solutions to meet diverse requirements. A global team with local expertise provides customers with holistic services, designed specifically for their needs.
In 2021, the Company continued to implement a new Global Service Policy. The goal of the Global Service Policy is to align the service approach, goal setting, and measurements between different units within Eimskip to ensure that the Company is offering excellent customer service. The Global Service Policy contains three pillars: Global Team, Proactive, and Simplify. To measure and monitor customer satisfaction for customers globally, Eimskip sends out a Net Promoter Score (NPS) customer survey each year. The NPS continues to be strong. In Gallup research in Iceland, the positivity towards the Company is high and there is an increased positivity in 2021.
The digitalization and automation of processes are key elements in the continued development of Eimskip’s services. The Company is determined to adapt to customers’ needs in a fast-changing technical environment where elements of self-service are increasingly important. A strong focus on information technology, and potential synergies between systems and teams, is playing a vital role in Eimskip’s proactive commitment to service excellence.
Over the past years Eimskip has been strategically investing in technology platforms to better support customer service. This includes Microsoft Customer Engagement solution, new systems for liner and forwarding operation, container management system, global financial reporting and planning platform and more.
Organization and Key Executive Management Team
The Company’s structure is divided into three business divisions, an operations division and three support divisions. The heads of the respective divisions plus the General Counsel form the Executive Management Team with the CEO.
VILHELM MÁR THORSTEINSSON, Chief Executive Officer (CEO), was born in 1971. He was appointed as CEO in January 2019. Over the previous 20 years, he held various positions at the bank Íslandsbanki, most recently as Managing Director of Corporate & Investment Banking (2017-2019) and Managing Director of Corporate Banking (2008-2017). He is a Board Member of the Chamber of Commerce in Iceland and a Board Member of various subsidiaries of Eimskipafélag Íslands hf.
Vilhelm earned an MBA Degree from Pace University in New York; a BSc degree in Business Management, Majoring in Logistics, from Reykjavík University; and is a licensed Securities broker.
BJÖRN EINARSSON, Executive Vice President of Sales and Business Management (EVP), was born in 1969. He was appointed as EVP following organizational changes made in February 2020. Björn has worked for Eimskip and subsidiaries for 14 years, in roles which include Managing Director of Eimskip in Europe, based in the Netherlands. For the past ten years he has been the Managing Director of TVG-Zimsen, and he is currently Chairman of the Board of TVG-Zimsen and its subsidiaries Gára and Skipakostur. He is also a Board Member of Eimskip Greenland and of the travel company Discover Truenorth.
Björn holds a BA degree in Political Science from the University of Iceland.
BRAGI THÓR MARINÓSSON, Executive Vice President of International Operations (EVP), was born in 1965. Bragi started working for Eimskip in 1993 and has held his current position since 2008. Previously, he was EVP North Atlantic Operations (2006-2008) and International Operations (2004-2006). Bragi’s other roles with the Company include Managing Director of Eimskip Nederland B.V. (1999-2004), Senior Manager of the International Department (1997-1999) and Quality Manager (1995-1997). He was also a representative in the International Department from 1993-1995. Based in the Netherlands since June 2016, he is currently a Board Member of various Eimskip group subsidiaries.
Bragi received an MSc degree in Industrial Engineering from the Technical University of Denmark in 1993 and a CS degree in Mechanical Engineering from the University of Iceland in 1991.
BÖDVAR ÖRN KRISTINSSON, Executive Vice President of Iceland Domestic Operations (EVP), was born in 1970. He was appointed interim EVP in October 2021. Bödvar Örn has worked for Eimskip for 17 years in projects related to Iceland domestic transport e.g. in sales and as operations manager. For the past years, he has worked as senior manager of the Iceland Land Transport division. Bödvar holds a B.S. degree in business from Bifrost University and a M.Sc. in transportation economics and logistics from Erasmus University in Rotterdam.
DAVÍD INGI JÓNSSON, General Counsel and Compliance Officer, was born in 1981. He has worked for Eimskip since 2009, initially as a Senior Legal Counsel prior to being appointed to his current role. Before joining Eimskip, Davíd was a Legal Counsel at Íslandsbanki and an intern at Lögmenn Borgartúni 18 legal services.
Davíd earned an MBA degree from Reykjavik University in 2018; an M.L. degree in Law in 2007 and a B.A. degree in Law in 2005 from Reykjavík University. He is a member of the Icelandic Bar Association.
EDDA RUT BJÖRNSDÓTTIR, Executive Vice President of Human Resources and Communication (EVP), was born in 1980. Joining Eimskip in 2019 as Head of Marketing and Communication, she was appointed to her current role in early 2020. Edda has over 20 years’ wide-ranging experience, having worked extensively in the IT sector and for 12 years in the financial sector. At Íslandsbanki, her various roles included Executive Director of Customer Relationship Management and Sales in the bank's Corporate and Investment Banking division. Edda is a Board Member of Eimskip Ísland ehf., a subsidiary of Eimskipafélag Íslands hf. and Advania Iceland one of the largest IT companies in Iceland.
Edda has a BSc degree in Business Administration with an emphasis on Computer Science from Reykjavík University.
HILMAR KARLSSON, Chief Information Officer and head of IT and Business Process Management (CIO), was born in 1971. He has worked for Eimskip since 2017 and in his current role since 2018. For over 10 years he held various management positions related to IT at Arion Banki. Head of IT Operations from 2006 to 2011 and head of Software Development responsible for online banking, APP development, and CRM development from 2011 to 2017.
Hilmar Karlsson received a cand sci degree in electrical engineering from the University of Iceland in 1997.
HILMAR PÉTUR VALGARDSSON, Chief Operational Officer, was born in 1973. He has worked for Eimskip since 1999 and has held the current position since January 2019. From 2009 to 2019, he was the Chief Financial Officer (CFO) and CFO of HF. Eimskipafélag Íslands, now A1988 hf., from 2008 to 2009. He was CFO of Containerships Ltd. OY in Finland from 2006 to 2008 and Senior Manager of Eimskip’s Financial Control Department from 2004 to 2006. Hilmar is currently a Board Member and Managing Director of various subsidiaries of Eimskipafélag Íslands hf.
Hilmar received a Cand. Oecon. degree from the University of Iceland in 1999.
MARÍA BJÖRK EINARSDÓTTIR, Chief Financial Officer, was born in 1989. She was appointed as CFO in September 2021. She was Managing Director of Alma íbúðafélag (previously Almenna leigufélagið), one of the largest real estate companies in Iceland, which she has led from its foundation seven years ago. Prior to that she worked in the financial sector where she focused on alternative investments, with emphasis on real estate investments and financing. María Björk has a B.Sc. degree in Engineering Management, majoring in finance, from Reykjavík University and she is a licensed securities broker.
Employees
Eimskip has a devoted team of employees whose knowledge and talents are the Company’s most important resources. Eimskip employs over 1.600 people in 20 countries, creating a diverse team of various genders, nationalities, and generations.
Each member brings a unique set of skills and experience to the team, and diversity fosters a vibrant workplace where the Company´s values of achievement, cooperation, and trust govern every aspect of the business.
The focus over recent years has been on dynamic communication, breaking down silos, and promoting collaboration across teams, countries, and continents. The Company has emphasized supporting employees with, e.g., digital learning and communications platforms, check-in conversations, and monitoring employee well-being.
COVID-19 continued to have a significant impact into the year 2021. The Company built on positive developments from the pandemic in 2020, such as strengthened collaboration across the Company with employees´ enriched skills in digital communication.
The priority continued to be securing the health and safety of employees by implementing multiple safety precautions. The Company embarked on several campaigns supporting employee well-being. For instance, Focus Friday’s were introduced with the aim to reduce meetings on Friday afternoons and equip employees with uninterrupted time to complete deep work before the weekend. October was a special wellness month were the Company put special focus on well-being and offered various training and events related to wellness, health, and safety to employees.
During the pandemic, Eimskip has adapted to the Hybrid Workplace and published a Hybrid Work Policy that endorses improved flexibility and encourages better work-life balance. The Company explored the hybrid workplace further by launching the Hybrid Work Pilot Project in Iceland, where employees and managers received remote work training and were given the opportunity to work remotely part of the workweek. The Company then used several methods to understand how to organize and maximize the benefits of hybrid work. That work is still on-going.
Eimskip continued transforming the head-office workspace into an activity-based working environment. Activity-based work environment further enables employees to collaborate on projects, ideas, and goals It also allows for more agility in day-to-day work and helps build a positive culture characterized by thriving teamwork and active communication.