The newly founded company, Avalleq, which was established by, among others, former Siumut politician Karl-Kristian Kruse and SIK’s pension fund SISA, has offered offshore fishing of halibut and cod quotas.

It is not only the well-established company Halibut Greenland that wants to engage in offshore fishing, primarily for halibut, and launched a new fishing company at the 11th hour.

It is not

It is Avalleq Aps., which is owned by, among others, the former Siumut Fisheries Minister Karl-Kristian Kruse and the pension fund SISA. Kruse is known as a very skilled and experienced fisherman.

It is not only the well-established company Halibut Greenland that wants to engage in offshore fishing, primarily for halibut, and launched a new fishing company at the 11th hour.

It is notAnnouncement

It is Avalleq Aps., which is owned by, among others, the former Siumut Fisheries Minister Karl-Kristian Kruse and the pension fund SISA. Kruse is known as a very skilled and experienced fisherman.

Avalleq, along with 11 other companies, including Halibut Greenland, has bid for the quotas for offshore fishing of halibut, cod and halibut off West Greenland.

Quotas for halibut and cod in particular are highly sought after, as they have a high value.

50-year-old Karl-Kristian Kruse has been a fisherman for a number of years. He was a member of Inatsisartut from 2013 to 2021 and the Greenland Fisheries and Hunting Association from 2014 to 2016 and again from 2017 to 2018.

SISA Chairman: – Diversification of ownership

The chairman of SISA, SIK chairman Jess G. Berthelsen, is clear. He says that one of the intentions of the new fisheries law is to spread ownership of the quotas.

– It is SISA’s intention to invest some of our pension funds in fishing. When we have 40,000 members, it is to spread the ownership of the fishing quotas when the company we now own a part of applies for quotas, says Jess G. Berthelsen.

Founded 5 days before the application deadline 

In early February this year, the Department of Fisheries and Hunting offered quotas to interested companies. The application deadline was April 30. Avalleq, which was founded on April 25 with four owners, each holding a quarter of the shares, bid for the quotas.

With Greenland’s new fisheries law, which came into effect at the turn of the year, pension funds are allowed to invest in fisheries.

SISA has never hidden that the pension fund will invest some of the money in developing the fishery, states Jess G. Berthelsen.

– I’m very excited to see how this ends, he says.

If Naalakkersuisoq says yes to Avalleq’s application, the company must decide on investing in a fishing vessel, he adds.

Tradable quotas

The new Fisheries Act introduces tradable offshore quotas for Greenland halibut from 1 January. This means that 4,600 tonnes of Greenland halibut and 1,950 tonnes of cod, following a Naalakkersuisut decision in December 2024, are reserved for two new smaller players or one large player.

This is to ensure that the players have profitable fishing for an entire year, which provides the best basis for a successful approach of new players, the Ministry writes in connection with the tender.

Adresse hos Kruse 

The limited liability company Avalleq has its registered office at Karl-Kristian Kruse at Sangoriq in the Nuuk suburb of Nuussuaq. He is the company’s director, while Paviaraq Heilmann is the chairman of the board.

The quota share for halibut will be allocated for 10 years at a time, while the cod quota will be allocated for one year at a time.

To be considered for allocation of the quotas, the applicant must be a purely Greenlandic company, i.e. 100 percent Greenlandic owned.

It is not only the well-established company Halibut Greenland that wants to engage in offshore fishing, primarily for halibut, and launched a new fishing company at the 11th hour.

It is not

It is Avalleq Aps., which is owned by, among others, the former Siumut Fisheries Minister Karl-Kristian Kruse and the pension fund SISA. Kruse is known as a very skilled and experienced fisherman.

It is not only the well-established company Halibut Greenland that wants to engage in offshore fishing, primarily for halibut, and launched a new fishing company at the 11th hour.

It is notAnnouncement

It is Avalleq Aps., which is owned by, among others, the former Siumut Fisheries Minister Karl-Kristian Kruse and the pension fund SISA. Kruse is known as a very skilled and experienced fisherman.

Avalleq, along with 11 other companies, including Halibut Greenland, has bid for the quotas for offshore fishing of halibut, cod and halibut off West Greenland.

Quotas for halibut and cod in particular are highly sought after, as they have a high value.

50-year-old Karl-Kristian Kruse has been a fisherman for a number of years. He was a member of Inatsisartut from 2013 to 2021 and the Greenland Fisheries and Hunting Association from 2014 to 2016 and again from 2017 to 2018.

SISA Chairman: – Diversification of ownership

The chairman of SISA, SIK chairman Jess G. Berthelsen, is clear. He says that one of the intentions of the new fisheries law is to spread ownership of the quotas.

– It is SISA’s intention to invest some of our pension funds in fishing. When we have 40,000 members, it is to spread the ownership of the fishing quotas when the company we now own a part of applies for quotas, says Jess G. Berthelsen.

Founded 5 days before the application deadline 

In early February this year, the Department of Fisheries and Hunting offered quotas to interested companies. The application deadline was April 30. Avalleq, which was founded on April 25 with four owners, each holding a quarter of the shares, bid for the quotas.

With Greenland’s new fisheries law, which came into effect at the turn of the year, pension funds are allowed to invest in fisheries.

SISA has never hidden that the pension fund will invest some of the money in developing the fishery, states Jess G. Berthelsen.

– I’m very excited to see how this ends, he says.

If Naalakkersuisoq says yes to Avalleq’s application, the company must decide on investing in a fishing vessel, he adds.

Tradable quotas

The new Fisheries Act introduces tradable offshore quotas for Greenland halibut from 1 January. This means that 4,600 tonnes of Greenland halibut and 1,950 tonnes of cod, following a Naalakkersuisut decision in December 2024, are reserved for two new smaller players or one large player.

This is to ensure that the players have profitable fishing for an entire year, which provides the best basis for a successful approach of new players, the Ministry writes in connection with the tender.

Adresse hos Kruse 

The limited liability company Avalleq has its registered office at Karl-Kristian Kruse at Sangoriq in the Nuuk suburb of Nuussuaq. He is the company’s director, while Paviaraq Heilmann is the chairman of the board.

The quota share for halibut will be allocated for 10 years at a time, while the cod quota will be allocated for one year at a time.

To be considered for allocation of the quotas, the applicant must be a purely Greenlandic company, i.e. 100 percent Greenlandic owned.