China’s leading seafood firm is in crisis mode after a Chinese news outlet published a lengthy investigative report on a petition by angry shareholders in its home base. A petition by Zhangzidao’s original shareholders - islanders in its home base of Changbai County near Dalian in northern China, has put Zhangzidao under new pressure to explain a CNY 800 million (USD 121.6 million; EUR 111.9 million) loss of scallop stocks which the firm… Read More
Exports from China’s primary seafood processing region sagged in 2015 with a slump in frozen filet shipments and improved EU purchases cancelled out by softer demand from Japan which devalued the Yen. Exports from the port city and leading processing hub of Dalian in the first 11 months of 2015 totalled 625,000 tons, down 4.2 percent on the same period last year according to local customs documents. In value terms exports were worth CNY 14.98… Read More
Seafood isn’t steel: China’s huge USD 11 trillion economy is more a series of sub-economies. While the economy is currently being held back by outmoded, over-capacity industries like construction and steelmaking, there is a much brighter outlook for industries like seafood given China’s consumers can increasingly afford and want to consume quality, safe seafood. Yes, there is much over-capacity in the export-focused seafood processing… Read More
Weaker demand for high end seafood species has hit China’s mariculture sector with falling investment leading to poor quality seedlings. That’s according to a new report on the sector compiled by Beijing Shui Shiji Shengwe Jishu (Beijing Water Century Biotech) Corp, a major manufacturer of vitamins and medicines for China’s aquaculture sector. Total maritime cultivation area for shellfish fell by 2.2 percent in 2014 and claims that… Read More
China is vowing to expand its presence in world squid waters through an alliance of local firms and government agencies which will also seek to expand consumption of the species in domestic markets: that’s according to a report compiled by a group of 14 companies and research bodies set up in 2012 with a view to establishing an alliance of Chinese squid catchers and processors.
The document, seen by Seafoodsource, was prepared for a recent… Read More
New flavours and packaging formats are getting China eating more tuna: that’s according to the giant state-owned Liaoning Province Dalian Ocean Fishery Group Co (also known as Liaoyu Group) which captured two key awards from the China Canned Food Industry Association at its end of year awards night.
Liaoyu picked up awards for its "International Flavors’ canned tuna series (launched in 2015) and the ‘Flavours of the South Pole’ canned… Read More
Some industry news wires were quick recently to herald an overseas acquisition plan by China’s leading shrimp firm - yet another Chinese seafood firm is hedging its bets by investing overseas as export demand wanes.
Without naming the target company, Zhanjiang Aquatic League of Nations recently announced that the company will “cooperate with industry funds” to buy a “foreign company and its core business and assets” with the total… Read More
Leading Chinese tuna firm Zhejiang Ocean Family has boasted record tuna catches by its fleet based in the West Pacific. An Ocean Family (also known as Dayang Shi Jia) statement praised its ‘Xin Shiji No 77’ ultra-low temperature longliner for “breaking a company record” with a 12 ton cargo of tuna (the company didn’t give a timeline for this catch) while the company’s new purse seine vessel ‘Xin Shiji 111’ captured 220 tons of… Read More
The detention of one of China’s richest men has spooked investors in one of the country’s leading fishery companies. Billionaire investor Guo Guangchang, boss of the Fosun Group, which has a 14 percent (105 million shares) of Shenzhen-listed CNFC Overseas Fishery Co, was detained last week by state security officials but reappeared Monday to attend the AGM of Fosun, which is one of China’s largest privately run conglomerates. It paid CNY… Read More
The distribution of foodstuffs in China is changing very fast and anyone seeking sales of seafood ought to pay close attention to how the opening up of online commerce is increasing customer access to products.
Most companies and state marketing agencies still operate in China on the premise of business to business (B2B) but China’s retail and marketing of seafood is rapidly opening up to allow more of a business to consumer (B2C)… Read More