The Board of Directors at salmon farming giant Marine Harvest ASA has confirmed it is to evaluate the potential for expanding business activities into service vessels.
In a statement published by the Norway-based company, it said there is a substantial number of vessels already operating in connection with its activities, including work boats, well boats and feed boats. It also highlighted that the “biological situation in Norway and its other farming regions” make well boats an integrated part of the value chain.
“Vessel use in salmon farming systems is increasing in significance due to increased smolt transportation, sea lice, grading of fish, freshwater treatments and harvesting; as a consequence we see significant scope for integration in this area of our operations,” said the statement.
Marine Harvest sees the move as an opportunity to streamline production and cut costs associated with the area.
“The profitability in the segment and the expected return is good, and the timing is favorable for such a new business activity. The Board of Directors has therefore requested the administration to evaluate the business area ‘Marine Harvest Shipping.’ The business area will be supported by existing corporate group functions and will be developed gradually through organic growth.”
Marine Harvest will explore the options within this business segment in detail and will hire a COO within Marine Harvest Shipping in 2016.
