Chris Chase is the Portland, Maine-based associate editor of SeafoodSource. Previously, he worked covering local issues at the Coastal Journal in Bath, Maine, where he won multiple awards from the Maine Press Association for his news coverage and food reviews. Chris is a graduate of the University of Maine, and got his start in writing by serving as a reporter and later the State Editor of The Maine Campus, an award-winning campus newspaper.
Private equity fund Summa Equity, the parent company of value-added salmon company Milarex, has acquired aquaculture and fish health service provider STIM from its parent Nordly Holding for an undisclosed amount.
Nordly Holding is owned by STIM Chairman and Founder Jim-Roger Nordly, who announced in October 2023 that he had initiated the sale process for STIM. At the time Nordly predicted a H1 2024 closing date – which proved true… Read More
The Environmental Justice Foundation (EJF) is calling for the Thai government to curtail the practice of pair trawling, which it called envrionmentally destructive.
EJF's recent “Scourge of the Seas” report attributed much of the country’s catch declines to trawling vessels, especially those using pair trawling – a type of bottom trawling involving two vessels pulling a net that can stretch as much as a kilometer wide.… Read More
Aquaculture feed manufacturer BioMar reported record revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) in FY 2023, surpassing its own guidance to the market.
The company achieved revenues of DKK 17.9 billion (USD 2.6 billion, EUR 2.4 billion) in FY 2023, up slightly from the DKK 17.8 million (USD 2.5 billion, EUR 2.3 billion) it posted last year. Over the same period, the company posted an EBITDA of DKK… Read More
A study commissioned by the North Atlantic Pelagic Advocacy Group (NAPA) indicates the Atlanto-Scandian herring stock in the Northeast Atlantic may be nearing a collapse if steps aren’t taken to halt overfishing.
NAPA is one of the groups behind persistent calls for action to end overfishing of Atlanto-Scandian herring, which has faced severe sustainability issues for multiple years. The Marine Stewardship Council (MSC) suspended its… Read More
Canada’s Department of Fisheries and Oceans released its annual stock assessment on snow crab, finding that the stock remains on par with last year and signaling there will likely be little change in 2024 quota.
According to the CBC, the stock assessment showed the snow crab fishery in Newfoundland and Labrador – one of the region's most lucrative fisheries – remained relatively stable, with the exception of area… Read More
Norwegian cod-farming company Norcod is contemplating a private placement to raise working capital and cover higher-than-expected operating costs experienced in Q4 2023.
The Trondheim, Norway-based company announced in its Q4 results it is contemplating a NOK 100 million to NOK 150 million (USD 9.5 million to USD 14.2 million, EUR 8.7 million to EUR 13.1 million) private placement to “cover the company’s working capital… Read More
Trident Seafoods, High Liner Foods, and Sysco are among the U.S. seafood firms that have suspended relationships with Chinese processors named in the latest Outlaw Ocean Project report, which revealed their use of North Korean labor, in violation of U.N. sanctions and U.S. law.
The use of North Korean laborers was prohibited in 2017 by the United Nations Security Council in response to the country testing a series of nuclear and ballistic… Read More
Seafood processed by Chinese companies using labor from North Korea has made its way into international seafood supply chains, according to a new Outlaw Ocean report published in The New Yorker magazine.
The latest story builds on previous work by the Outlaw Ocean Project which discovered evidence of Uyghur labor in the supply chains of prominent seafood companies, retailers, and distributors. The new report details evidence gathered over… Read More