In the new company accounts, it can be seen that the hybrid ferry Maliina Ittuk, which has not yet been put into operation, has cost Diskoline over 93 million kroner.

Diskoline has just published its annual accounts for 2024. This is happening with a slight delay because Topas Explorer Group, which is behind the shipping companies Diskoline and Blue Ice Explorer, has decided to merge the two companies.

Diskoline has just published

The annual accounts, which apply to both Diskoline and Blue Ice Explorer, show a healthy company with a positive bottom line with an annual result of 2.79 million kroner – an increase of 25 percent from last year’s 2.22 million kroner. Equity has grown from just over 42 million kroner to just over 64 million kroner.

Diskoline has just published its annual accounts for 2024. This is happening with a slight delay because Topas Explorer Group, which is behind the shipping companies Diskoline and Blue Ice Explorer, has decided to merge the two companies.

Diskoline has just publishedAnnouncement

The annual accounts, which apply to both Diskoline and Blue Ice Explorer, show a healthy company with a positive bottom line with an annual result of 2.79 million kroner – an increase of 25 percent from last year’s 2.22 million kroner. Equity has grown from just over 42 million kroner to just over 64 million kroner.

After the merger, Diskoline has a total of 15 boats, sailing in both South Greenland and the Disko region. In addition, there is the hybrid ferry Maliina Ittuk, which, after several attempts, has not yet been put into operation and is currently in the shipyard in Frederikshavn.

The annual accounts show that Maliina Ittuk, with space for 113 passengers, has so far been a costly experiment that has not yet yielded a single penny. The ferry is listed in the balance sheet under “Tangible fixed assets under construction” at a total value of DKK 93,467,692.

And it turns out to be an experiment

CEO of both Diskoline and Topas Explorer Group Michael Højgaard acknowledges that there have been many and also costly challenges with Maliina Ittuk.

– We have a 10-year service contract with the Government of Greenland for local navigation in South Greenland and the Disko area. This is the prerequisite for us to have dared to commit to the large investment, which we still believe is the right solution to expand capacity.

– Unfortunately, we have not reached our goal yet, so we have informed the Government of Greenland that we currently do not expect Maliina Ittuk to arrive in Greenland until after the summer holidays. Fortunately, this does not affect the route plan. We have shifted the fleet around a bit so that we can continue to meet the obligations in the service contract.

Although Topas Explorer Group has merged Diskoline and Blue Ice Explorer, this does not mean major changes to navigation in South Greenland. The two companies operate, among other things, the important navigation between Narsarsuaq and Qaqortoq and are an important part of the infrastructure in South Greenland.

– In practical terms, the merger means that Blue Ice Explorer’s fleet and other business areas will be placed under Diskoline primarily to simplify administration, but that Blue Ice Explorer will continue as an independent brand. In practice, the merger will not result in any significant changes in daily operations, as Diskoline and Blue Ice Explorer have already had a close collaboration for several years, explains Michael Højgaard.

New sailing pattern

– The travel pattern will change when the new airport in Qaqortoq opens next year – and that is also the reason for the merger.

– The closure of the international airport in Narsarsuaq, the opening of the new regional airport in Qaqortoq and the opening of the new international airport in Nuuk will turn the previous transport pattern in South Greenland upside down. We must of course respond to this.

– To ensure stable, efficient and long-term service to South Greenland’s settlements and local communities, we are therefore joining forces in one company.

The merger of the two companies took effect on June 1. There has been a lot of accounting technique involved in the maneuver – and therefore the annual accounts for 2024 for Diskoline ApS have only recently been published.

– With the merger of the two companies, Blue Ice Explorer’s accommodations – the village hotel in Igaliku and the hostel in Narsarsuaq – as well as the company’s tour operator activities will also become part of Disko Line, but will continue to be operated under the Blue Ice Explorer brand, informs Michael Højgaard, but emphasizes that they are working on the accommodations becoming part of Topas Explorer Group’s hotel division – together with, among others, Hotel Icefiord in Ilulissat and the hotels in Qeqertarsuaq and Qasigiannguit.

Moving from Narsarsuaq

Diskoline has its head office in Ilulissat, but in the future a planned relocation of the head office for Blue Ice Explorer awaits, as the office will be moved to Qaqortoq when the new South Greenland airport opens in the city.

– We look forward to further developing the strong foundation that both companies have built through many years of work in Greenland – for the benefit of both passengers, local communities and partners, says Michael Højgaard.

In the overall annual accounts for 2024 for Diskoline, you can also read that the company has had personnel costs totaling 29,627,739. The majority of this item is salaries for the staff, all of whom pay tax in Greenland. The number of employees varies between 25 in the winter to approximately 110 in the summer. The average number of full-time positions was 54 in 2024.

Diskoline is a private limited company and therefore has no board of directors.

Diskoline has just published its annual accounts for 2024. This is happening with a slight delay because Topas Explorer Group, which is behind the shipping companies Diskoline and Blue Ice Explorer, has decided to merge the two companies.

Diskoline has just published

The annual accounts, which apply to both Diskoline and Blue Ice Explorer, show a healthy company with a positive bottom line with an annual result of 2.79 million kroner – an increase of 25 percent from last year’s 2.22 million kroner. Equity has grown from just over 42 million kroner to just over 64 million kroner.

Diskoline has just published its annual accounts for 2024. This is happening with a slight delay because Topas Explorer Group, which is behind the shipping companies Diskoline and Blue Ice Explorer, has decided to merge the two companies.

Diskoline has just publishedAnnouncement

The annual accounts, which apply to both Diskoline and Blue Ice Explorer, show a healthy company with a positive bottom line with an annual result of 2.79 million kroner – an increase of 25 percent from last year’s 2.22 million kroner. Equity has grown from just over 42 million kroner to just over 64 million kroner.

After the merger, Diskoline has a total of 15 boats, sailing in both South Greenland and the Disko region. In addition, there is the hybrid ferry Maliina Ittuk, which, after several attempts, has not yet been put into operation and is currently in the shipyard in Frederikshavn.

The annual accounts show that Maliina Ittuk, with space for 113 passengers, has so far been a costly experiment that has not yet yielded a single penny. The ferry is listed in the balance sheet under “Tangible fixed assets under construction” at a total value of DKK 93,467,692.

And it turns out to be an experiment

CEO of both Diskoline and Topas Explorer Group Michael Højgaard acknowledges that there have been many and also costly challenges with Maliina Ittuk.

– We have a 10-year service contract with the Government of Greenland for local navigation in South Greenland and the Disko area. This is the prerequisite for us to have dared to commit to the large investment, which we still believe is the right solution to expand capacity.

– Unfortunately, we have not reached our goal yet, so we have informed the Government of Greenland that we currently do not expect Maliina Ittuk to arrive in Greenland until after the summer holidays. Fortunately, this does not affect the route plan. We have shifted the fleet around a bit so that we can continue to meet the obligations in the service contract.

Although Topas Explorer Group has merged Diskoline and Blue Ice Explorer, this does not mean major changes to navigation in South Greenland. The two companies operate, among other things, the important navigation between Narsarsuaq and Qaqortoq and are an important part of the infrastructure in South Greenland.

– In practical terms, the merger means that Blue Ice Explorer’s fleet and other business areas will be placed under Diskoline primarily to simplify administration, but that Blue Ice Explorer will continue as an independent brand. In practice, the merger will not result in any significant changes in daily operations, as Diskoline and Blue Ice Explorer have already had a close collaboration for several years, explains Michael Højgaard.

New sailing pattern

– The travel pattern will change when the new airport in Qaqortoq opens next year – and that is also the reason for the merger.

– The closure of the international airport in Narsarsuaq, the opening of the new regional airport in Qaqortoq and the opening of the new international airport in Nuuk will turn the previous transport pattern in South Greenland upside down. We must of course respond to this.

– To ensure stable, efficient and long-term service to South Greenland’s settlements and local communities, we are therefore joining forces in one company.

The merger of the two companies took effect on June 1. There has been a lot of accounting technique involved in the maneuver – and therefore the annual accounts for 2024 for Diskoline ApS have only recently been published.

– With the merger of the two companies, Blue Ice Explorer’s accommodations – the village hotel in Igaliku and the hostel in Narsarsuaq – as well as the company’s tour operator activities will also become part of Disko Line, but will continue to be operated under the Blue Ice Explorer brand, informs Michael Højgaard, but emphasizes that they are working on the accommodations becoming part of Topas Explorer Group’s hotel division – together with, among others, Hotel Icefiord in Ilulissat and the hotels in Qeqertarsuaq and Qasigiannguit.

Moving from Narsarsuaq

Diskoline has its head office in Ilulissat, but in the future a planned relocation of the head office for Blue Ice Explorer awaits, as the office will be moved to Qaqortoq when the new South Greenland airport opens in the city.

– We look forward to further developing the strong foundation that both companies have built through many years of work in Greenland – for the benefit of both passengers, local communities and partners, says Michael Højgaard.

In the overall annual accounts for 2024 for Diskoline, you can also read that the company has had personnel costs totaling 29,627,739. The majority of this item is salaries for the staff, all of whom pay tax in Greenland. The number of employees varies between 25 in the winter to approximately 110 in the summer. The average number of full-time positions was 54 in 2024.

Diskoline is a private limited company and therefore has no board of directors.