Kristjan Loftsson, the chief executive of the whaling company Hvalur, told The Daily Telegraph that there was "no problem" about finding markets for the meat in Japan and "no restriction on whale exports to Japan".
It is the first time his
fleet of four vessels - two British and two Norwegian - has been used since 1989.
said: "We are back in business with about 100 tons of excellent eco-friendly whale meat and blubber ready for the market."
added though that they had stopped whaling for this year because of bad weather and little daylight.
disagreed with the rationale used to list the fin whale as "endangered" on the Red List compiled by the International Union for the Conservation of Nature
The 60 to 70ft fin whale, the second largest animal after the blue whale, was put on the list, says the IUCN
, because almost three-quarters of a million were taken in the southern hemisphere between 1904 and 1979 along with vast numbers of blue whales, of which fewer than 1,500 remain in the world.
The fin whale's population is poorly understood in most areas outside the North Atlantic, where recent studies show there are more than 40,000.
said there were 25,000 animals in the central North Atlantic between Iceland and Greenland, a population that was calculated by scientists to be close to the pre-exploitation level.
The quota of nine fin whales granted by the Icelandic government represented 0.04 per cent of the stock size.
"They say they have been caught so heavily in the southern hemisphere that world stocks are endangered.
You can't do that because these are local populations," said Mr Loftsson