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 fishing in Newfoundland had decreased by at least 75% in all stocks, by 90% in three of the six stocks, and by 99% in the case of 'northern' cod, previously the largest cod fishery in the world. After a 10-year moratorium on fishing begun in 1992, the cod had still not returned. It was thought that the local ecosystem might have changed, one possibility being that greater numbers of capelin, which used to provide food for the cod, might be eating the juvenile cod. The waters appeared to be dominated by crab and shrimp rather than fish. However, by 2011 it became apparent