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
Harold Innis and the cod fishery method of curing their catches onshore, then transporting the dried fish to Mediterranean countries where there was a demand for a higher protein diet. This combined with consumer preferences for dried fish over cod packed in brine meant higher prices, especially in Catholic countries where the church required the regular consumption of fish. Thus, dried cod sold in Spain allowed England to receive substantial amounts of the precious metals that the Spanish were bringing from their colonies in the New World. "Cod from Newfoundland was the lever by which she [England] wrested her share of the riches of the New