Eimskip at a Glance
Eimskip is a leading transportation company in the North Atlantic with connections to international markets and is specialized in worldwide freight forwarding services. The Company's vision is excellence in transportation solutions and services.
in the North Atlantic and
worldwide freight
forwarding services
EUR 664 m
EUR 357 m
as at 16 March 2017
in 20 countries
in four continents
Worldwide
associates network
on six routes
in the North Atlantic
1,850
employees
Eimskip has been a niche player in transportation in the North Atlantic for over 100 years. It specializes in shipping, logistics and supply chain management, and offers its customers solutions on sea, land and air, with a special emphasis on the handling and storing of all types of temperature-controlled cargo, frozen or chilled, and dry cargo. Principal cargoes are 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 that links with its own shipping network, allowing it to provide its customers with comprehensive logistics services.
Eimskip’s transportation services 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, air freight services and agency services. The forwarding services include worldwide freight forwarding services for both reefer and dry cargo, in cooperation between the Company’s own offices, its worldwide network of associates and international deep-sea lines.
Eimskip concentrates mainly on serving the North Atlantic, with a focus on its home market, where the Company has a strong position. Eimskip has defined its home market in the North Atlantic, from the east coast of North America to the west and north coasts of Norway; in other words, Newfoundland and Labrador, Iceland, the Faroe Islands and Norway. Eimskip is the only containerized liner company offering direct weekly services between Newfoundland and Labrador and Europe, between Newfoundland and Labrador and the USA and between North America and Northern Norway, connecting these areas with one comprehensive sailing schedule.
Eimskip currently operates 63 offices in 20 countries in four continents and employs about 1,850 people. The Company operates 22 vessels sailing on six different routes in the North Atlantic.
Eimskip was founded in 1914 and is a publicly traded company with its shares listed at Nasdaq Iceland. Eimskipafélag Íslands hf., the parent company, currently owns ten direct subsidiaries, all of which are wholly owned by Eimskip with one exception. These direct subsidiaries further own 61 subsidiaries that are mostly wholly owned.
Mission, Vision and Values
Eimskip traces its roots back to 17 January 1914, when H.F. Eimskipafélag Íslands was founded with about 15,000 shareholders, representing almost 17% of the Icelandic nation at that time.
Eimskip is a leading transportation company in the North Atlantic with connections to international markets and is specialized in worldwide freight forwarding services. The Company’s vision is excellence in transportation solutions and services.
Eimskip’s obligations towards its stakeholders are to:
- Secure a good return for SHAREHOLDERS with profitable growth
- Create value for CUSTOMERS with outstanding solutions and services
- Be an outstanding workplace for EMPLOYEES with great team spirit and ambition
- Show concern for the SOCIETY with social responsibility and reduced ecological footprint
Eimskip’s employees observe the Company’s values in their daily work: ACHIEVEMENT – COOPERATION – TRUST
Strategic Priorities 2018
Eimskip has defined six Strategic Priorities for the year 2018. They relate to Eimskip’s mission and vision, are based on the Company’s values and cover different aspects of its operations.
Following are Eimskip’s Strategic Priorities 2018:
- STRENGTHENING OF SAILING SYSTEM AND INFRASTRUCTURE focuses on optimizing Eimskip’s sailing system and utilization of its vessel fleet, after having achieved the goal of weekly sailings on all the Company’s six sailing routes.
- IMPROVED IT SOLUTIONS AND IT INNOVATION is about improving IT solutions and integrating common platforms across the Company.
- PROCUREMENT AND BETTER UTILIZATION OF RESOURCES focuses on implementing strategic procurement processes to reduce costs and improve processes to reach operational excellence.
- TEAMWORK AND SYNERGIES focuses on integration of Eimskip’s global team of employees, on synergies between the different divisions and companies within the Group and on integration of new Group companies to ensure maximized synergy.
- PROACTIVE SALES AND SERVICE APPROACH IN LINER AND FORWARDING is about being proactive in sales and services to increase sales in all markets.
- BUSINESS PROCESSES AND KPIs focuses on improving the Company’s business processes and its Key Performance Indicators.
Organization and Executive Management
The Executive Management of Eimskip consists of the Chief Executive Officer and the Directors of Finance and Operation, International Operations and Logistics, Human Resources and Marketing, North Atlantic Container Liner Services and Iceland Domestic Operations and Services. All the executives have an extensive experience within the Company.
GYLFI SIGFÚSSON, President and CEO, was born in 1961. He has worked for Eimskip and related companies since 1990 and as President and CEO from 2009. Before that he was CEO of HF. Eimskipafélag Íslands, now A1988 hf., from 2008 to 2009. Gylfi held the position of CEO of Eimskip USA, Eimskip Logistics and Eimskip Canada from 2006 to 2008, overseeing all of Eimskip’s transport operations in USA and Canada. Gylfi was the CEO of Eimskip Logistics in USA from 2000 to 2006. He was Executive Vice President of Ambrosio Shipping in USA from 1996 to 2000 and Executive Vice President of Marketing and Operations at Tollvörugeymslan hf., now TVG-Zimsen ehf., from 1990 to 1996. He is a board member or CEO, or both, of various subsidiaries of Eimskipafélag Íslands hf. Gylfi is a board member of Iceland Chamber of Commerce, the American-Icelandic Chamber of Commerce, the Icelandic-Canadian Chamber of Commerce, the Greenland-Icelandic Chamber of Commerce and the Icelandic-Arctic Chamber of Commerce. He earned a Cand.Oecon. degree from the University of Iceland in 1990.
HILMAR PÉTUR VALGARDSSON, Chief Financial Officer, was born in 1973. He has worked for Eimskip since 1999 and as CFO from 2009. Before that he worked as 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. Before, Hilmar was a board member of Containerships UAB, Containership UAB, Containerships Polska, Air Atlanta Properties Ltd., Air Atlanta Aero Engineering Ltd., Vátryggingafélag Íslands hf. and Líftryggingafélag Íslands hf. Hilmar received a Cand.Oecon. degree from the University of Iceland in 1999.
BRAGI THÓR MARINÓSSON, Executive Vice President of International Operations and Logistics, was born in 1965. He has worked for Eimskip since 1993. Bragi has been Executive Vice President of International Operations and Logistics since June 2016, before which he was Executive Vice President of International Operations from 2008 to 2016 and Executive Vice President of North Atlantic Operations from 2006 to 2008, Executive Vice President of International Operations from 2004 to 2006, Managing Director of Eimskip Nederland B.V. from 1999 to 2004, Senior Manager of the International Department from 1997 to 1999, Quality Manager from 1995 to 1997 and Representative in the International Department from 1993 to 1995. Bragi is currently a board member of various subsidiaries of Eimskipafélag Íslands hf. Bragi is a board member of the British-Icelandic Chamber of Commerce and the Norwegian-Icelandic Chamber of Commerce. He received a Master’s degree in Industrial Engineering from the Technical University of Denmark in 1993 and a B.Sc. degree in Mechanical Engineering from the University of Iceland in 1991.
ELÍN HJÁLMSDÓTTIR, Vice President of Human Resources and Marketing, was born in 1972. She has worked for Eimskip since 2004. Elín was appointed Recruiting Manager in 2006 and in 2008 she became Senior Manager of Human Resources in Iceland. Following organizational changes in 2009 she became Senior Manager of Human Resources of Eimskip and was Vice President of Human Resources from June 2016. She became Vice President of Human Resources and Marketing following organizational changes in November 2017. Elín is a board member of Eimskip Ísland ehf., a subsidiary of Eimskipafélag Íslands hf., a member of the board of SVTH – Federation of Trade & Services and was a board member of Kortathjónustan hf. 2016 to 2017. Elín received a B.Sc. degree in Business Administration in 2002 and an MBA degree in 2005 from Reykjavík University.
MATTHÍAS MATTHÍASSON, Vice President of North Atlantic Container Liner Services, was born in 1966. He worked for Eimskip from 1983 to 2004 and again from 2009. Matthías has been Vice President of North Atlantic Container Liner Services since June 2016, was Vice President of Transportation Services 2015 to 2016 and Vice President of Sales and Services from 2009 to 2014. Before that he was Vice President of Special Projects and Managing Director of Eimskip Germany in 2009, Managing Director of Komatsu Denmark from 2004 to 2009, Managing Director of Eimskip UK from 2003 to 2004 and Senior Manager of Eimskip’s Export Department from 2001 to 2003. He was Senior Manager of Eimskip’s Vehicles, Equipment and Special Projects from 2000 to 2001, Key Accounts Manager of Eimskip International Sales and Services from 1997 to 2000 and a sales representative of Eimskip’s Import Department from 1993 to 1997. Matthías studied Education at Hedmark University in Norway from 1993 to 1996.
GUDMUNDUR NIKULÁSSON, Vice President of Iceland Domestic Operations and Services, was born in 1961. He has worked for Eimskip since 1997. Gudmundur has been Vice President of Iceland Domestic Operations and Services since June 2016. Before that he was Vice President of Iceland Domestic Operations from 2005 to 2016 and served as Senior Manager of Terminal Operations from 1997 to 2005. Gudmundur held the position of Chief Engineer for the City of Reykjavík from 1991 to 1997. From 1987 to 1991 he was a Consulting Engineer at Hnit hf. He is currently a board member of four subsidiaries of Eimskipafélag Íslands hf. In 1987 Gudmundur received a Civ.Ing. degree (M.Sc.) in Engineering from the Technical University of Denmark in Copenhagen. He received a B.Sc. degree in Civil Engineering from the University of Iceland in 1985.
Employees
Eimskip’s employees aim at excellence in their work and the success of the Company’s operations is based on their knowledge and ambition. One of the main keys to achieve excellence is strong teamwork and cooperation, drawing the best from the Company’s employees, with their variety of backgrounds as regards education and experience. For this reason, the Company works towards strengthening the professional abilities of all its employees and encourages them to harness their own interest and initiative for personal development and progress.
Eimskip employed an average of 1,782 people in 20 countries in 2017. In terms of gender, the Company consists of 68% male and 32% female. The Company employed people of 39 nationalities and four generations.
GENERATIONS AT EIMSKIP
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3.2 % Generation Z
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41.3 % Generation Y
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33.3 % Generation X
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22.2 % Baby Boomers
With the variety of people and the diversity in the operation, Eimskip faces great opportunities that seem obvious in terms of the size and growth itself, but at the same time, some challenges to sustain a strong culture based on its long history. This also requires necessary changes and continuous improvements to function and develop in a fast-moving world and a rapid technical progress.
SUBGROUPS
TEAM EIMSKIP was one of the Company’s Strategic Priorities in 2017. The aim was to strengthen Eimskip’s global team, built on a decision to harness the company culture in a strategic way, with emphasis on teamwork. The Company will continue on that path in 2018, as TEAMWORK AND SYNERGIES is one of the Strategic Priorities for the year, where the focus is on integration of Eimskip’s global team of employees, on synergies between the different divisions and companies within the Group and on integration of new Group companies to ensure maximized synergy. Emphasis is on increased information flow with regular employee meetings globally, strategic information about the Company’s operations and cross-functional global meetings. Also on internal information sharing through a common platform, such as Workplace by Facebook, connecting people across divisions and borders.
With the aim of excellence in the operation, more focus is put on training and education, and the access to it. “QuickHelp”, a global platform for online training material, was put in place in 2017, opening up opportunities for easier access and flexibility in general education for employees and leadership education for managers. Employees’ professional and personal development is increasingly based on their own effort to seek continuing education with a full support of the Company, which provides tools in the form of communication and feedback, systems and strategic goal setting.
Eimskip continues to work on improvements and further expansion of the utilization of the training system to educate its employees. With easy and accessible tools and flexibility, over time, employees will have the opportunity to strengthen their knowledge, both in their specific field and of the Company’s operations, and have an easier access to their network of colleagues worldwide.
Working with the company culture is a never-ending journey, and the decision to build a stronger teamwork culture requires at every stage strategic short-term and long-term projects. Moving forward, a lot of emphasis and effort will be put on continuous improvements in form of new methodology and goal settings, cross-functional communication and education and on work with team spirit.