Global seafood companies kaleidoscope

September 17, 2010 16:16
In the first half of September 2010 global seafood companies have been reporting a number of important developments, according to

Among others some most important events have been as follows:

  • So far this year HB Grandi's pelagic vessels have landed 27,000 tonnes of Atlanto-Scandian herring and mackerel at Vopnafjordur. This represents a significant reduction in catch compared to last year, when 41,000 tonnes of mackerel and herring had been landed at the same point in 2009. The good news is that production of herring and mackerel for human consumption has increased dramatically, with approximately three times the amount going to production this year compared to 2009.
  • Ocean Trawlers is poised to secure Marine Stewardship Council (MSC) certification on cod and haddock fished by 16 Russian trawlers in the Barents Sea. The certification firm Food Certification International (FCI) is recommending approval to the MSC for certification. But the recommendation also contains distinct terms and conditions to ensure these are not fish caught outside the quotas. One of the conditions is that the fish that are to bear the MSC label must be landed in specified port in Russia, the EU and Norway, and accordingly cannot be shipped directly to for example China where Ocean Trawlers currently processes much of its fish from the Barents Sea. The ports specified in the recommendation from Food Certification International, are Murmansk, Russia; Tromso, Kirkenes, Hammerfest, Honningsvaag, Baatsfjord and Aalesund, all in Norway; Grimsby, U.K.; and Ijmuiden and Velsen-Noord in the Netherlands, where Ocean Trawlers at present unloads the bulk of its consignments to China.
  • Young's, a member of Findus Group, has launched a new range of premium fish dishes intended to start the biggest category shake-up of the year. Young's Fishmonger's Choice range is designed to overhaul existing perceptions of frozen fish as well as presenting strong competition to the chilled equivalents already available on the market. Young's Fishmonger's Choice consists of two unique, single-serve recipes: Prime fillet of Atlantic cod with roasted garlic, herbs and sun dried tomato (160g); and Prime fillet of Atlantic haddock in a mild chilli and lemon dressing (160g).
  • Young's Seafood is continuing its new product development (NPD) with three new lines, including a family takeaway product. The Findus Group-owned company is launching its chip shop family takeaway line, as well as new breaded cod and haddock fillet products. Young's chip shop family takeaway product comprises four battered fish fingers; four pangasius mini fillets; four fish cakes and chips.
  • Aqua Gen AS is one of six companies which have been nominated for the Research Council of Norway's Innovation Prize: Norway's Most Innovative Company for 2010. This is the first time a company from the aquaculture sector has been nominated. Aqua Gen has, among other things, developed a genetic test which quickly shows if a salmon has good resistance to the IPN virus.
  • Seafood supplier Beijing Culimer Seafood Im-Exporting Co, Ltd. has moved to a new location. Due to the increase of business the company has decided to move closer to the biggest seafood market and distribution centre of Northern China. The company states the move will help to improve its efficiency by bringing demand and supply closer to each other. The new office is situated at Nansanhuan Xilu, Fengtai District in Beijing.
  • Aqua Gen AS is one of six companies nominated for the Research Council of Norway's most innovative company award for 2010. This is the first time a company from the aquaculture sector has been nominated. Aqua Gen has, among other things, developed a genetic test which quickly shows if a salmon has good resistance to the IPN virus.
  • From humble beginnings on the Downeast coast of Maine, Look's Gourmet Food Company has grown its authentic, all-natural brand, Bar Harbor into one of America's fastest growing shelf-stable seafood brands. Inclusion for the 4th year in a row on the 2010 Inc. 5,000 list of America's fastest growing privately held companies further substantiates the company's viability and sustainability even in uncertain economic times. Look's Gourmet Food Co., Inc. produces authentic, all-natural, shelf-stable fish and seafood chowders and bisques, sauces, cooking stocks, premium bottled clam juice and hand-packed fancy fish and seafood meats, including Certified whole Maine lobster.
  • National Prawn Company, world leader in desert coastal aquaculture, has been awarded the prestigious British Retail Consortium (BRC) Global Standard for Food Safety. To achieve the "A" rating, NPC met rigorous requirements for the processing of Aquacultured Raw, Cooked, Chilled and Frozen Shrimp Products at its Al Lith aquaculture operation on the Red Sea desert coast, where it currently produces and processes 15,000mt of shrimp each year.
  • The Pittsburgh Penguins and StarKist Co., a leading producer, distributor and marketer of shelf-stable seafood products in the United States, announced a three-year partnership that will make StarKist an Official Partner of the Pittsburgh Penguins. Hockey fans can expect to see a lot more of StarKist and its famous spokesfish Charlie the Tuna in the new arena. StarKist-branded signage will be positioned around the new areas - from the scoreboard and dasherboards, to the LED rings and digital ad displays. In addition, StarKist will be prominent during Pittsburgh Penguin Radio Network broadcasts and the company will feature ads in Ice Time magazine and the Consol Energy Entertainment Guide.
  • Rieber & Son delivered a quarterly result showing continued improvement in profitability. The operating profit improved by over 30 percent in the second quarter, ending on NOK 74 million. The gross margin increased by 4.5 percentage points.
  • Thiraphong Chansiri, president of Thailand's leading seafood producer Thai Union Frozen Products PLC (TUF), revealed that for the first 6 months of 2010, the company's net profit reached 1,704 million baht, up 6% from the same period last year, which saw a net profit of 1,608 million baht. Sales revenue for the period in dollar term was 1,026 million USD, up 3% from the previous year's figure of 996 millions USD. In Thai baht term, sales revenue fell 4% from 34,861 million baht the same period last year to 33,421 million baht this year. However, the company still managed to achieve continual sales revenue and profit growth in US dollar term as a result of product diversification to include more value-added products.
  • Trans-Ocean Products, Inc., the US leading processor of surimi seafoods, announces that the company has achieved the acclaimed BRC Global Standard for Food Safety which is regarded as the benchmark for best manufacturing practices in the food industry. Trans-Ocean's facility, which is located on West Orchard Drive in Bellingham, recently passed a BRC Accreditation audit, receiving a grade "A" certificate, the highest possible rating. As a supplier to many of the country's largest food retailers, Trans-Ocean sought the BRC Certification as confirmation of its extensive food safety and quality efforts.
  • AquaBounty Technologies, Inc., a biotechnology company focused on enhancing productivity in the aquaculture market, announces progress on its pending New Animal Drug Application for AquAdvantage Salmon from the U.S. Food and Drug Administration. Dr. Ronald Stotish, President and CEO of AquaBounty, commented: "This is welcome and exciting news for the Company as we near the end of the detailed and necessary process to receive regulatory approval for our AquAdvantage Salmon. The meeting will provide an opportunity for the public to understand how the application of our technology will enable the safe and sustainable production of high quality fish. We believe the economic and environmental benefits of our salmon will very effectively help to meet the demand for food from the growing world population."
  • Umami Sustainable Seafood Inc announced that the Company has ended its private placement financing which raised total cash proceeds of approximately USD8.7 million. As previously announced, this private placement was partially completed in June 2010 in conjunction with the closing of a share exchange among the Company and Atlantis Group that resulted in Kali Tuna becoming an indirect wholly owned subsidiary of Umami.
  • Umami Sustainable Seafood Inc. announced that for the second consecutive year, its Kali Tuna subsidiary, based in Kali Croatia, has successfully spawned and hatched Mediterranean Bluefin Tuna in captivity. The Company estimates that at least over 500 million eggs were released into the Adriatic.
  • Eimskip‘s profit for the first six months of the year 2010 exceeded expectations. EBITDA was EUR 19,9 million and net earnings after taxes were EUR 7.5 million. Total assets at the end of June amounted to EUR 291 million with equity ratio of 54% and interest bearing debts were EUR 78 million.
  • Austevoll Seafood ASA has entered into an agreement in respect of sale of all shares of Epax Holding AS. The remuneration for the shares is NOK 561 million based on enterprise value of NOK 875 million by December 31st 2009. Epax Holding AS holds 100 per cent of the shares of Epax AS and Epax Lipro AS, and is one of the leading producers of high concentrate Omega - 3, based on fish oils. Epax has been part of the Austevoll Group since 2007. The decision of Austevoll Seafood ASA to sell the shares of Epax Holding AS is based on the Company's strategy of focusing even more rigidly on the Group's core business. The Group`s core businesses are pelagic fishery, pelagic industry, farming of salmon and trout, processing of seafood, and sale and distribution of seafood.
  • American Pride Seafoods launched Pank-O-Licious TM line made with fresh, authentic bread crumb. Panko is an innovative coating created from freshly baked bread with a large, crunchy and durable crumb. Pank-O-LiciousTM products are available in Tilapia, Cod, and Alaska Pollock species as tenders, sliders, and fillet portions.
  • HQ Sustainable Maritime Industries, Inc., a leading producer of functional, sustainable Tilapia biomass, including fish and personal healthcare products, provided an update on its Marine Bio and Healthcare Products segment, including its long-term growth strategy.
  • Norpac has completed the initial phase of third party certification for Sustainability regarding our Bigeye Ahi production. Norpac hired Moody Marine to complete a Pre-Assessment for certification by Marine Stewardship Council. The Pre-Assessment is designed to determine which species are impacted by the company's fishing operations.
  • North Elston Seafood Partners (NESP), owners of Plitt Seafood, announced their joint venture project with Euro USA, a company based out of Cleveland, Ohio. Euro USA is an importer and distributor of specialty products, seafood, Pat LaFrieda meats, and wines to the Midwest and Mid Atlantic United States.
  • Zhangzidao Fishery Group America Corp (ZF America) and Sustainable Fisheries Partnership (SFP) announced a new partnership centered on developing a sustainable seafood strategy for ZF America.
  • Nutreco fish feed division Skretting is closing its production and administration in Westport, Ireland due to a "significant" drop in demand for salmon feed in the Irish market. The company will continue to produce feed for the Irish market in its manufacturing plants in the United Kingdom.
  • Slade Gorton proudly announces a significant accomplishment in achieving SQF LEVEL 3 CERTIFICATION further defining its leadership role in delivering high quality seafood products with confidence.
  • HQ Sustainable Maritime Industries, Inc. (NYSE Amex: HQS) ("HQS" or the "Company"), a leading producer of functional, sustainable Tilapia biomass, including fish and personal healthcare products, announced it opened its own subsidiary and health products retail store in Shanghai as part of its expanded direct outreach to the Chinese consumer.
  • Denholm Seafoods Ltd reported the beginning of mackerel production. After a very short Herring season the company has been in mackerel production. The first landing on the new season from the Norwegian purse seine vessel "Kings Cross" followed by the "Osterbris". Excellent quality mackerel. As usual the company is producing a range of products including whole round 600+, 4/600, 3/500, 3/400 gram, hand cut / machine cut fiilets and gutted mackerel. All products are available both fresh and frozen.
  • Metro AG, the world's third largest retailer, said it would not delist but instead reduce supplies of Atlantic cod after the World Wide Fund defended the sustainability of Barents Sea cod. We are not delisting Atlantic cod - instead we will reduce supplies and choose to source only from stocks that are certified and shown to be sustainable," Metro AG's Vice President Strategic Quality Management Jurgen Matern.
  • Royal Greenland is introducing a microwaveable, steam cooking system on the Spanish market with cod and hake products. The film-based packaging works like a pressure cooker and reduces preparation time, while at the same time being considerably more convenient for the consumer than conventional preparation methods, the company said. A valve system, which allows the steam to circulate, is integrated in the film-based packaging. During preparation, the pressure inside the packaging opens the valves and lets the steam out, but retains juices and flavor.
  • Gorton's Seafood and Ortega have teamed up to create a co-branded website and online contest that celebrates the latest culinary craze -- the fish taco. The site,, offers five new seafood taco recipes and a contest, the "Fish Taco Fiesta Challenge," that asks consumers to enter for a chance to win exciting prizes by providing their favorite taco toppings, a tip on creating an at-home fish taco fiesta and a photo.
  • Whole Foods Market launches the first in-store color-coded sustainability rating program for wild-caught seafood and commits to phasing out all red-rated species by Earth Day 2013.
  • VAKI is delighted to be a new partner with Vossolauget and having the opportunity to assist in the pleasant project of restoring the Vosso salmon stock. The Vosso Salmon has an international reputation as the largest Atlantic salmon in the world.VAKI delivered a Fish Grader and a Fish Counter as a contribution to the project.
  • Frydenbo Industri AS is planning to establish a new facility at Hanoytangen. Cooperation with Bergen Group, which is about to build a strong cluster for maritime and offshore industry in Hanoytangen, is also initiated.
  • Aker Seafoods has received a claim from the administration committee of Glitnir for payment of NOK 99 million in relation to an interest rate and currency swap agreement entered into in 2005. Aker Seafoods rejects the claim. As mentioned in our prospectus dated August 31 2009, the relevant swap agreement was terminated by Aker Seafoods in 2008.
  • International Seafood Group, the Ukraine's largest seafood company, is investing in a domestic advertising campaign to push its own brand while also increasing exports. While looking to grow in its core, home market, International Seafood Group has the ambition and the capacity to grow outside of the Ukraine.
  • Rapidly expanding Russian importer Ultra Fish is launching its own brand BKyc ApT as there is minimal branding on packed, frozen seafood currently. The company plans to sell any product it can pack under its brand -- from pangasius and tilapia to hake and coldwater and warmwater shrimp.
  • China Marine Food Group Limited, a China-based manufacturer of Mingxiang(R) seafood-based snack foods, "Hi-Power" marine algae-based beverages, and distributor of frozen marine catch, announced $2.5 million of Hi-Power beverage sales for the month ended August 31, 2010.
  • Cermaq ASA has acquired 26.4 % of the shares in Marine Farms ASA (MAFA) at a price of NOK 18,25 per share, and consequently controls 42.6 % of the company. Cermaq intends to present a mandatory offer to all shareholders in line with the regulations in the Norwegian Securities Trading Act regarding mandatory offers.
  • NIREUS AQUACULTURE SA announces that it sold 11,057,147 shares (representing 30.2% of the total share capital) of MARINE FARMS ASA to MORPOL at the price of 18 NOK per share for a total gross revenue of 199 mi. NOK (€ 23.5 mi. at the conversion rate 7.8520.NOK per euro). Following the above transaction, NIREUS holds no shares in MARINE FARMS.
  • Morpol ASA has acquired a further 74.1% of the shares in Marine Farms ASA ("MAFA") at a price of NOK 18.50 per share, and consequently controls 90.5 % of the company.
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