New Refinancing and New CEO Mark Fjord Line's Next Growth Phase

In early March, existing owners Kontrari and West Coast Invest consolidated full ownership of Fjord Line. The two Norwegian family-owned companies have now strengthened Fjord Line's financial foundation through a refinancing of its debt and a fresh equity injection.

The refinancing is structured as a green transition loan – a financing instrument available to companies actively working to reduce emissions and invest in more sustainable operations. The transition loan has been provided through DNB and Eksfin.

"The capital injection gives us a strong starting point for continued development and sends a clear signal of Fjord Line's ambitions. Fjord Line’s qualification for this type of financing reflects the long-term work the company has done to reduce emissions and strengthen its position as a more sustainable operator in the ferry industry,” said Chairman of the Board Peter Frølich.

A Strong Foundation for the Next Phase

Fjord Line has in recent years carried out extensive modernization and efficiency improvements across the entire business, including significant sustainability initiatives. Today, Fjord Line is Norway's second largest international ferry operator.

"We have modernized, optimized and invested. Fjord Line today is a more streamlined company with a clearer market position and a significantly strengthened operational and commercial platform. At the same time, we have advanced our sustainability profile. Together with a new financial platform, we have a solid foundation for the road ahead," said Frølich.

Executive Leadership Transition

The Board and the CEO have agreed that now is the right time for a change in executive leadership.

"Brian Thorsted Hansen has led Fjord Line through a period marked by significant challenges – a global pandemic, an energy crisis, geopolitical turmoil, and a dramatically changed market environment. At the same time, he has delivered a substantial strengthening of the company's operational and commercial foundation, advanced its sustainability profile, and positioned Fjord Line well for the future. We extend our sincere gratitude to Brian for his leadership and dedication," said Frølich.

Brian Thorsted Hansen will step down as CEO on July 1, 2026, handing over to Heidi Nag Flikka, who will take over as Fjord Line´s new CEO.

"Fjord Line today is a more robust and streamlined company with a clear strategic direction and a strong foundation. This reflects focused efforts, disciplined execution, improved efficiency, and the continuous development of our business. Ensuring the company is well positioned for the next phase has been a key priority," said Brian Thorsted Hansen.

"I want to thank all our employees and the executive leadership team for their tremendous efforts. Their commitment, collaboration, and continuous focus on developing the business and delivering strong customer experiences have been essential to our progress. I also want to thank the Board and our owners for their trust and partnership, as well as our customers and business partners for their continued support to Fjord Line over the years," said Brian Thorsted Hansen.

Heidi Nag Flikka to Lead the Next Phase

Heidi Nag Flikka will take over as CEO in the summer of 2026 and brings strong and in-depth knowledge of Fjord Line. She has served as a board member since 2020 and was Fjord Line's CFO from 2019 to 2020.

"Fjord Line is a company I know well and strongly believe in. The company has undergone a significant transformation over recent years – with stronger operations, a clearer market position and a sustainability profile that stands out in the industry. It is a solid foundation to build on," said Flikka.

Flikka joins Fjord Line from her role as Managing Director of Flekkefjord Sparebank, a regional bank serving Norway´s Sout-West Coast. She brings broad experience from companies in finance, marine and offshore industries, including AF Gruppen and SpareBank1 SR-Bank, as well as board experience from companies in finance and industry. Flikka holds a Master's degree from the Norwegian School of Economics (NHH) and has completed an executive management program at BI Norwegian Business School.

"Heidi Nag Flikka has an in-depth knowledge of both the company and the industry, and brings strong competencies in finance, capital management and strategic leadership. We are confident she is the right person to lead Fjord Line into the next phase," said Chairman Peter Frølich.

Founded in 1993, Fjord Line has grown to become Norway's second largest international ferry company. The company carries around one million guests annually between Norway and Denmark, with daily departures from Bergen, Stavanger and Kristiansand to Hirtshals.

"Fjord Line has significant potential that I look forward to developing further. I will spend the coming months getting to know the organization even better. But I can already say this: We are truly excited about the next phase," said Flikka.