Diversified Communications, which operates several seafood trade shows around the globe, has made the decision to cancel this year’s Seafood Expo Asia, which was scheduled to take place in Hong Kong from 3 to 5 September, 2019.
The move was made in response to ongoing social unrest in Hong Kong and careful analysis of the current situation, pending protests, and the impacts on the event, Diversified Group Vice President Liz Plizga… Read More
Diorasis International SA, a Greek private investment firm and the owner of Aquaculture G&P Bitsakos, spent more than EUR 50 million (USD 55.4 million) to acquire the sea bass and sea bream farming assets being shed by Selonda and Nireus as part of their merger with The Andromeda Group, according to Greek news site Ypaithros.
The purchase, made last week, included 10,000 metric tons of sea bass and sea bream, as well as hatcheries that… Read More
More U.S. shoppers are noticing price increases for the products they buy regularly, and a majority of them plan to reexamine their shopping habits if U.S. tariffs on Chinese goods remain in place, according to a new survey.
Shopkick, the operator of a shopping rewards app, surveyed more than 30,000 of its users between 28 and 30 June, and found 44 percent of respondents planned to cut down on their shopping as a result of raised prices on… Read More
Knut Nesse will replace Hans Kristian Mong as the chairman of the board of AKVA Group, after Mong decided to step down from the position after six years, the company announced on Friday, 16 August.
Nesse is the former CEO of Skretting and Nutreco, and is currently serving as the managing director of the Seafood Business for Ocean Stewardship (SeaBOS). He left Nutreco in June 2018 after 23 years at the Netherlands-based company in order to return… Read More
The Spanish firm Sea Group SL, South Korea’s Sajo Systems, and several Chinese conglomerates, including the Beijing State-Owned Capital Operation and Management Center and Pingtan Marine Enterprise Limited, which is listed on the NASDAQ Stock Market, were each named in a new report tying them to illegal, unreported, and unregulated (IUU) fishing practices.Read More
A move executed Tuesday, 13 August by the Trump administration will reverse previously-announced tariffs on some seafood processed in China.
Included in the original list of items subject to the latest round of tariffs announced by U.S. President Donald Trump on Thursday, 1 August – which originally proposed subjecting an additional USD 300 billion (EUR 270 billion) in imported goods to a 10 percent tariff – were frozen fillets of… Read More
A merger of three of Greece’s largest aquaculture firms, which had been held up by European Commission antitrust concerns, took a step forward recently after the completion of a mandatory divestment.
In June 2018, Abu Dhabi, United Arab Emirates-based Mubadala Investment Company, along with U.S. private equity firm AMERRA Capital Management, moved to acquire Selonda and Nireus and merge them with The Andromeda Group, which was purchased by… Read More
The American Tunaboat Association, a trade group representing owners and operators of the U.S. tuna fleet, has lost a lawsuit that it filed after being denied “applicant” status by the National Marine Fisheries Service in Endangered Species Act consultations.
In December 2018, the ATA received a notification of rejection from the NMFS in its attempt to be given applicant status under the agency’s rules for participating with… Read More
Bumble Bee Foods is considering filing for bankruptcy to alleviate it of increasingly dire financial situation.
The San Diego, California, U.S.A.-based firm, which claims it is the largest seller of packaged seafood in North America, exceeded the leverage ratio it is allowed under the terms of its senior debt, according to Bloomberg. That sent the firm into technical default on its principal operating loan, a USD 650 million (EUR 550 million)… Read More
Lunenburg, Nova Scotia, Canada-based High Liner Foods reported lower sales and gross profit in the its second-quarter financial report, but CEO Rod Hepponstall said he is confident the company’s turnaround is nearly complete.
The company recorded USD 223 million (EUR 198.8 million) in total sales in the second quarter, down from USD 245.3 million (EUR 216.7 million) in Q2 of 2018. Its H1 sales total of USD 500.5 million (EUR 446.2 million)… Read More