The company was founded in June 1993 and is owned by the inhabitants of the Hvalba district on the island of Suðuroy, who make their living from the fishing industry.

There is one fish filleting factory situated in the area and in addition to the trawler, the plant provides jobs for the majority of the locals.

M/T Steintór chiefly fishes for redfish in the deep-sea grounds around the Faroe Islands. Other types are also caught, such as ling, coalfish and halibut. However, redfish is of the greatest importance in terms of export market value. Recently, Germany has been the largest single importer of redfish, and as a result, numerous fish factories around the islands have specialised in the handling of redfish.

In the current years of increased nature preservation and resulting quota restrictions, the main emphasis has been put on the quality of the product rather than the quantity. Steintór can proudly boast a combination of the two.

Jacob Pauli Hammer and Jórun Hammer.

The management of M/T Steintór is highly unusual in that the members of the board of management are also members of the crew. Captain Jacob Pauli Hammer heads the board of five. The management feels that the responsibility carried by the crew leads to increased ambitions in all areas, and in that way Steintór can guarantee quality right through the production line.