Business & Finance
Rhode Island, U.S.A.-based seafood importer Southstream Seafoods has promoted Michael J. Kulasewski to vice president of operations, the company announced on 9 November.
Kulasewski has been with Southstream Seafoods for 15 years, most recently serving as the company’s operations manager.
“This change shows the commitment of Southstream to our family of employees, and our community,” Southstream said in a press release.… Read More
Lower costs, good prices, and a larger harvest saw SalMar deliver total operational earnings before interest and taxes (EBIT) of NOK 939.1 million (USD 110.8 million, EUR 98.5 million) in the third quarter of this year, up from NOK 801.3 million (USD 94.6 million, EUR 84 million) in Q3 2017.
The Norwegian-headquartered salmon farmer generated gross operating revenues of NOK 2.8 billion (USD 330.5 million, EUR 293.7 million) in the last… Read More
Alaska Seafood Marketing Institute Executive Director Alexa Tonkovich has resigned in order to pursue a master’s degree.
ASMI is a public-private partnership between the state of Alaska and the Alaska seafood industry working to market Alaska seafood globally. Tonkovich will leave ASMI in mid-December and will assist the organization’s Board of Directors in recruiting her replacement, ASMI said in a press release.
“I have… Read More
Clearwater Seafoods reported flat sales in the third quarter of 2018, with strong prices and increased landings of shrimp being offset by a smaller haul of clams and competitive conditions in the scallop market.
Clearwater’s third-quarter sales totaled CAD 164.2 million (USD 124.5 million, EUR 109.7 million), up slightly from CAD 163.6 million (USD 124 million, EUR 109.3 million) in Q3 2017. However, its year-to-date sales, at CAD 432.4… Read More
WWF-Madagascar and the Aquaculture Stewardship Council (ASC) have released statements in response to a request from SeafoodSource for comment on a report from the International Consortium of Investigative Journalists revealing questionable financial practices of Unima Group, a producer of premium Malagasy giant tiger shrimp in Madagascar.
The ICIJ report alleges Unima founder Aziz Ismail and his son, Amyne H. Ismail, who is the company’s… Read More
High Liner Foods reported a significant drop in third-quarter sales, amounting to a USD 41.5 million (EUR 36.5 million) decrease compared to 2017.
High Liner’s sales dropped from USD 282.7 million to 241.2 million (EUR 248.8 million to 212.3 million) in the third quarter. Gross profit decreased by USD 4.3 million (EUR 3.8 million) from USD 48.3 million to USD 44 million (EUR 42.5 million to 38.7 million).
The Lunenburg, Nova… Read More
Leroy Seafood Group (LSG) reported operating profit before fair value adjustments of NOK 660 million (USD 79.2 million, EUR 69.3 million) for the third-quarter of this year, down from NOK 861 million (USD 103.3 million, EUR 90.4 million) in the corresponding period of 2017.
The Norwegian fish farming and fishing company cited a decline in the harvest volume of salmon and trout as the main reason for the fall in profit. However, it added… Read More
Grieg Seafood Group (GSF) harvested 16,941 metric tons (MT) of salmonids in the third-quarter of this year, which was on par with the corresponding period of 2017. However, lower prices saw its total operating income for the quarter decrease by 14 percent year-on-year to less than NOK 1.6 billion (USD 192.7 million, EUR 167.7 million).
The Norway-headquartered producer achieved operational earnings before interest and taxes (EBIT) of NOK 160… Read More
Faroese salmon farmer Bakkafrost Group delivered total operational earnings before interest and taxes (EBIT) of DKK 168.3 million (USD 25.7 million, EUR 22.6 million) in the third-quarter of this year, a decrease from DKK 251.8 million (USD 38.5 million, EUR 33.8 million) in Q3 2016.
Bakkafrost’s farming segment delivered an operational EBIT of DKK 139.6 million (USD 21.4 million, EUR 18.7 million) in the last quarter – a drop… Read More
The future for seafood sales, distribution, and marketing firm Tropical Aquaculture Products, Inc., exists in a familiar setting for its founder and president, John K. Schramm.
The company – which works with a cooperative of family-run aquaculture operations throughout South America and beyond – recently expanded its office presence in the United States, opening a second location in Schramm’s hometown of Rockland, Maine. The… Read More