Cod Wars cut the nets of "Carlisle", and "Falmouth" rammed it again. "Týr" was heavily damaged and found herself propelled by only a single screw and pursued by the tug-boat "Statesman". In the dire situation, Captain Guðmundur Kjærnested gave orders to man the guns, in spite of the overwhelming superiority of firepower HMS "Falmouth" enjoyed, to deter any further ramming. The Third Cod War saw 55 ramming incidents altogether. In NATO-mediated sessions, an agreement was reached between Iceland and the UK on 1 June 1976. The British were allowed to keep 24 trawlers within the 200 nmi and fish a total of
Cod fisheries halibut, haddock, and mackerel became prominent off the Atlantic coast. The use of the long line and purse seine net increased the size of the catch. Apart from its long history, this particular trade also differs from most other fishing trades by the location of the fishing grounds, far from large populations and without any domestic market. The large cod fisheries along the coast of North Norway (and in particular close to the Lofoten islands) have been developed almost uniquely for export, depending on sea transport of stockfish over large distances. Since the introduction of salt, dried salt cod ('klippfisk'