Business & Finance

Published on
February 28, 2019

After 30 years with the At-Sea Processors Association (APA), Jim Gilmore, director of public affairs, will retire this summer.

The APA is a trade association representing six member companies that own and operate 16 U.S.-flag catcher/processor vessels that participate principally in the Alaska pollock fishery and U.S. West Coast Pacific whiting fishery. 

Gilmore, who will retire 30 June, will be replaced by Matt Tinning, currently the

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By

Jason Holland

Published on
February 28, 2019

Lerøy Seafood Group reported operating profit before fair value adjustments of NOK 948 million (USD 111.1 million, EUR 97.5 million) for the fourth quarter of 2018, up from NOK 777 million (USD 91.1 million, EUR 79.9 million) in the corresponding period of 2017. The Norwegian fish farming and fishing company cited an increase in the harvest volume of salmon and trout and higher prices as the main reasons for the improved

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By

Chris Chase

Published on
February 28, 2019

Lunenburg, Nova Scotia, Canada-based High Liner Foods posted slight losses in net income related to one-time costs from layoffs, declines in sales and gross profit, and a weakened Canadian dollar. 

In a conference call reviewing the company's fourth quarter results, CEO Rod Hepponstall cautioned shareholders that the company's financials would take time to shift back to the positive. High Liner Executive Vice President and CFO Paul Jewer

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By

Chris Chase

Published on
February 26, 2019

Nordic Aquafarms Inc., the U.S. subsidiary of Nordic Aquafarms, announced on 22 February that it has named Brenda Chandler to the position of chief financial officer for the company. 

Chandler was previously responsible for the global corporate real estate program at ON Semiconductor in South Portland, Maine, U.S.A.. She will be the CFO for the U.S. branch of the company.

“We are very pleased that Brenda has chosen to join the company

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By

Madelyn Kearns

Published on
February 25, 2019

Chatham, New Jersey-based company Preferred Freezer Services, which operates a global network of temperature-controlled warehouses, is being acquired by Lineage Logistics, the second largest refrigerated storage company in the world by space, the firms announced on 25 February. 

Lineage, which signed a definitive agreement to acquire Preferred on Monday, said the transaction marks a “significant milestone for the

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By

Cliff White

Published on
February 21, 2019

Thai Union posted sales of THB 36 billion (USD 1.1 billion, EUR 970 million) in the fourth quarter of 2018, which the company said was driven by strong volume growth in its frozen and chilled seafood segments and its pet care business.

While its quarterly sales were up 3.7 year-over-year in value, the Bangkok, Thailand-based seafood giant saw its annual sales decline 1.2 percent in value, to THB 133.3 billion (USD 4.1 billion, EUR 3.6 billion)

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Published on
February 20, 2019

A major United States seafood importer and processor owes its creditor more than USD 22 million (EUR 19 million), according to a new lawsuit.

Santander Bank said that Medley, Florida-based Bonamar Corp. and Argenis Contreras, who serves as the president and CEO of the company, have not paid the remaining approximately USD 22 million on a USD 25 million (EUR 22 million) loan. 

The bank and Bonamar agreed to a loan up to USD 30 million (EUR

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By

Jason Holland

Published on
February 20, 2019

In line with Oslo Stock Exchange (Oslo Børs) rules, the Norway-headquartered salmon farmer SalMar ASA has provided further details of the additional shares that it is purchasing in Arnalax AS. 

On 14 February, SalMar entered into an agreement to acquire 3,268,670 shares in the Icelandic salmon producer at NOK 55.00 (USD 6.41, EUR 5.65) per share, with the deal totaling almost NOK 180 million (USD 21 million, EUR 18.5 million). It

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By

Cliff White

Published on
February 18, 2019

Hobart, Tasmania, Australia-based salmon farming company Tassal Group has announced its best ever results for the first half of a financial year.

Tassal reported its salmon sales for the six months ending 31 December, 2018, rose 21.7 percent by volume to 20,578 tons, and increased 32.8 percent in value to AUD 285.4 million (USD 203.5 million, EUR 179.9 million). The company’s earnings before interest, tax, depreciation and amortization

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By

Chris Loew

Published on
February 18, 2019

Two NGOs active in promoting sustainable fisheries in Japan – Ocean Outcomes Japan and Seafood Legacy – have announced they will merge. 

The organizations announced the merger in a joint press release, saying they plan to continue to lead the sustainable seafood movement in Japan, transitioning Japanese seafood producers and suppliers towards global best practices.

Shunji Murakami is the Japan Program Director for Portland,

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