Business & Finance

Published on
May 28, 2017

One of China’s leading tuna catching and processing firms has celebrated its IPO on the board dedicated to funding small- and medium-sized firms. 

Zhejiang Rong Zhou Hai Yang Products Co is a subsidiary of Ping Tai Rong Group, a larger fishing firm, and is located in Zhoushan, one of China’s busiest east coast ports.  

Speaking at the IPO ceremony in Beijing, Ni Jian Bo, the general manager of the Ping Tai Rong Group,

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By

Madelyn Kearns

Published on
May 28, 2017

Atlanta, Georgia, U.S.A.-based seafood and protein processor Revere Meat Company has hired former Anova Food executive Scott Purinton to oversee sales and market growth at the company.

With more than 20 years of experience in the seafood and general foodservice industries, specializing in seafood sales, product development and procurement management, Purinton will apply his expertise toward building and selling Revere’s “quality

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By

Christine Blank

Published on
May 26, 2017

A Louisiana shrimp company will be required to pay back more than a million dollars it was given by oil company BP after the Deepwater Horizon oil spill, after an appeal it filed with a federal United States court failed on Thursday, 25 May.

The U.S. Fifth Circuit Court of Appeals denied Crystal Seafood Company’s request to appeal the decision of a lower court ruling that the company is liable for around USD 1 million (EUR 892,000) it

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Published on
May 25, 2017

The president of heavily indebted Chinese fishing firm Shanghai Kaichuang Marine International Co., Ltd has issued a stark warning to his managers to get the company’s costs under control in order to turn the company around. 

One of the highest-geared firms in China’s seafood sector, Kaichuang, which specializes in mackerel, tuna, fish fillets and krill, posted a loss of CNY 4 million (USD 580,500, EUR 519,500) in the first

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By

Jason Holland

Published on
May 24, 2017
Bakkafrost salmon processing

High prices and a rise in the volume of salmon harvested helped Bakkafrost Group deliver total operational earnings before interest and taxes (EBIT) of DKK 335.5 million (USD 50.5 million, EUR 45.1 million) in the first-quarter of 2017, up from DKK 254 million (USD 38.2 million, EUR 34.1 million) in the corresponding period of the previous year. 

The Faroe Islands-based Atlantic salmon producer’s harvest increased to 13,158 metric

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By

Cliff White

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

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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

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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

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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

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By

Cliff White

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

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