The IRCA has four ferries, the Westman Islands ferry Herjólfur, the Hrísey ferry Sævar, the Grímsey ferry Sæfari and the Breiðafjörður ferry Baldur.
The IRCA subsidises the operation of ferry routes following a bidding process. In bidding for the operation of the ferry routes, the ferries are leased for rent.
Total ferry passenger numbers dropped in 2020 following the COVID-19 pandemic, but were quick to recover in the following years.