Business & Finance

Published on
July 17, 2018
Marine Harvest salmon

Norway-headquartered Marine Harvest achieved operational earnings before interest and taxes (EBIT) of approximately EUR 175 million (USD 204.8 million) in the second-quarter of this year, down from the record EUR 198 million (USD 231.8 million) posted for Q2 2017, according to the company’s latest trading statement.

In the last quarter, Marine Harvest’s salmon of Norwegian origin achieved an operational EBIT per kg of EUR 2.55 (USD

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Published on
July 16, 2018

Icelandic seafood company Samherji has purchased Collins Seafood, a marketing and distribution company based in the United Kingdom, saying that the acquisition would strengthen its position in this important cod and haddock market. 

Headquartered in Newton Aycliffe, Collins Seafood sells and distributes frozen seafood in central and northern England to a large number of customers, predominantly fish and chip restaurants. 

According to

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By

Madelyn Kearns

Published on
July 12, 2018

Prominent barramundi supplier Australis Aquaculture has hired industry veteran Mark Prater as its new director of sales, the company announced 10 July. 

Prater, who has more than 30 years of experience in the seafood industry, will oversee the development of new business opportunities and manage key foodservice and retail accounts in his role for Australis – a company he’s worked with in his industry dealings before.

“Mark

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By

Ivan Stupachenko

Published on
July 11, 2018

Russian Kuril Islands-based Gidrostroy group of companies has reportedly closed a deal to purchase its competitor, Preobrazhenskaya Basa Tralovogo Flota (PBTF), making it one of the biggest players in the Russian fishery industry. 

Gidrostroy, via its subsidiary Ostrov Sakhalin, acquired a 96.38 percent stake in PBTF, Russian business paper Kommersant reported. The sellers were Irina Gerasimenko, Olga Kravchenko, and Nikita Kozhemayko

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By

Mark Godfrey

Published on
July 10, 2018

Patient bankers will be required at one of China’s leading fishing firms, which has been spending rapidly on expansion despite reporting sharp losses for the first quarter of the year. 

In early July, Shanghai Kaichuang Marine International Co. Ltd. purchased a majority stake in Canadian seafood processing firm French Creek Seafood Ltd. for its USD 5.5 million (EUR 4.7 million). But Kaichuang meanwhile had losses of CNY 22.6 million

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By

Cliff White

Published on
July 9, 2018

The Nueva Pescanova Group has acquired Unick Fish, a Cape Town, South Africa-based importer and marketer of seafood products, the company announced on 6 July.

Founded in 2008, Unick Fish sells seafood products through retail, foodservice, and wholesale channels in South Africa and Namibia. Its total sales in 2017 exceeded EUR 10 million (USD 11.8 million).

“With the acquisition of the trading company Unick Fish, Nueva Pescanova vertically

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By

Cliff White

Published on
July 5, 2018

Marine Harvest, the world’s largest salmon farming company, has finalized its acquisition of St. George, New Brunswick, Canada-based Northern Harvest.

The Bergen, Norway-based firm announced its intention to purchase Northern Harvest, a Canadian farmed salmon supplier, for CAD 315 million (USD 251 million, EUR 209 million) in January 2018.

Northern Harvest operates its own broodstock, hatchery, farming sites, and processing operations

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By

Cliff White

Published on
July 2, 2018

Editor's note: This story has been amended to reflect the fact that Pacific Andes has not declared bankruptcy, but rather filed for Chapter 11 bankruptcy protection in the United States. 

In a lawsuit filed 29 June, the Pacific Andes Group and several of its subsidiaries, including the China Fishery Group, have sued their former lender, the Hong Kong and Shanghai Banking Corporation (HSBC) for more than USD 22.6 million (EUR 19.5 million),

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Published on
July 2, 2018
Young's products

U.K. seafood processor Young’s Seafood Ltd. posted a 5.4-percent increase in its turnover to GBP 523.3 million (USD 688.6 million, EUR 591.4 million) alongside an operating profit of GBP 8.4 million (USD 11.1 million, EUR 9.5 million) for the financial year ending 30 September 2017. 

Its earnings before interest, tax, depreciation and amortization (EBITDA) for the 12-month period was GBP 19.8 million (USD 26.1 million, EUR 22.4

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By

Madelyn Kearns

Published on
June 28, 2018

The founder of transportation technology and container developer CMA CGM Group, Jacques R. Saadé, has passed away, according to recent media reports. He was 81.

Born in Lebanon in 1937, Saadé and his family were later forced to flee their country as civil war erupted around them. They relocated to Marseilles, France, where he would found Compagnie Maritime d’Affretement (CMA) in September of 1978. 

The company’s

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