Business & Finance

Published on
May 23, 2017
AquaChile

More than a year after an algal bloom wreaked havoc with the aquaculture industry in Chile, one of the country’s major players in the sector has reported financial results showing it back in the black.

AquaChile’s, a major Chilean producer of farmed salmon and trout, had earnings before interest, taxes, depreciation and amortization (EBITDA) of USD 50.2 million (EUR 44.7 million) in the first quarter of 2017. In the first quarter of 2… Read More

By

Madelyn Kearns

Published on
May 23, 2017
Santa Monica Seafood

As part of its strategy to expand and grow its procurement department in 2017, Santa Monica Seafood has appointed Dave Harrison as its new vice president of procurement. 

In his new role, Harrison will spearhead employee development and training programs; lead supplier management efforts; conduct strategic purchasing; oversee supplier negotiations and contracting; assist in the development of supply management systems, procedures and analyti… Read More

By

Christine Blank

Published on
May 22, 2017
Young's

Increased frozen and chilled seafood sales helped Lion/Gem Luxembourg 3, the parent company of Young’s Seafood Limited, realize sales growth in its fiscal second quarter.

The company reported turnover of GBP 131.6 million (USD 171.5 million, EUR  153 million), compared to GBP 128.8 million (USD 159 million, EUR 142 million) in the first quarter,  and EBITDA of GBP 5.3 million (USD 6.9 million, EUR 6.2 million) compared to GBP 3 m… Read More

By

Gao Fu Mao

Published on
May 22, 2017
Bolaxian

Investors are being promised “wealth and riches” if they back a chain of seafood distribution stores seeking to expand in China.

Bolaixian, which also uses an English name ‘iSeafood’ on its logo, is a subsidiary of Blue Ocean (Canada) Foods, which appears to be a Chinese-run operation registered in British Columbia, Canada. Bolaixian’s headquarters is based in Jinan, in the major seafood production and processing reg… Read More

Published on
May 18, 2017
Brad Bodenman

Brad Bodenman is planning to retire as chief financial officer of American Seafoods Group in September 2017, the company said in a statement.

Bodenman has worked at Seattle, Washington, U.S.A.-based American Seafoods, a harvester and processor of Alaska pollock, Pacific whiting, Pacific cod and yellowfin sole, for the past 15 years.

“American Seafoods has been extremely fortunate to have someone of Brad’s caliber through a period of s… Read More

Published on
May 17, 2017
Bob O'Bryant

Industry veteran Bob O’Bryant has been named as the replacement for Pat Rogan as the head of Cannon Fish Company (CFC), the seafood processing and marketing firm owned by the Aleutian Pribilof Island Community Development Association (APICDA).

APICDA is one of six Western Alaska Community Development Quota (CDQ) corporations established in 1992. The group controls a portion of Bering Sea and Aleutian Islands quotas for groundfish, halibut a… Read More

By

Christine Blank

Published on
May 16, 2017

Shortly after gaining listing on the NASDAQ Capital Market and garnering USD 25 million (EUR 23 million) in new equity, genetically engineered-salmon supplier AquaBounty is pushing ahead with its Canadian expansion plans.

However, the Maynard, Massachusetts, United States –based company also reported a net loss of nearly USD 2.1 million (EUR 1.9 million) in the first quarter of 2017, compared to the same quarter last year. AquaBounty did n… Read More

Published on
May 16, 2017

Japanese conglomgerate Nippon Suisan Kaisha, better known as Nissui, has shuffled its management, as current president Norio Hosomi has been named the company’s chairman, while Shinsuke Ohki has been promoted to president.

The changes will go into effect 28 June, according to a Reuters report, citing a company document.

The firm, based in Tokyo, is one of the world’s largest seafood traders, and owns Gorton’s, a U.S. frozen seaf… Read More

By

Jason Holland

Published on
May 16, 2017
The Scottish Salmon Company's Hebridean salmon

The Scottish Salmon Company PLC achieved a strong increase in its income in the first-quarter of 2017 despite a significantly lower harvest than in the corresponding period of last year. 

Its revenue for the last quarter totaled GBP 35.1 million (USD 45.3 million, EUR 40.9 million), up from GBP 29.1 million (USD 37.5 million, EUR 33.9 million) in Q1 2016. This was based on a total harvested volume of 5,685 metric tons (MT), down from 6,741 M… Read More

By

Jason Holland

Published on
May 15, 2017
Grieg salmon farm

Norway-headquartered salmonid producer Grieg Seafood ASA achieved operational earnings before interest and taxes (EBIT) of NOK 131.5 million (USD 15.3 million, EUR 14.1 million) before fair value adjustment of biomass in the first quarter of this year, down from from NOK 214 million (USD 24.9 million, EUR 22.9 million) in the corresponding period of 2016.

The total volume of fish that Grieg harvested in the last quarter totaled 8,552 metric tons … Read More