REYKJAVIK, Iceland - After 10 hours at sea, Halldor Armmansson surveys the bins of freshly caught cod lining the deck of his boat.

The ocean stocks are plentiful, but Iceland's soaring krona is making it a struggle for fishermen like Armmansson to reel in the financial rewards of a catch.

"We have to fish more to get the same amount of money," explains Armmansson, whose family owned company in Sandgerdi, a small port in southwestern Iceland, has two boats.