Business & Finance

Published on
May 11, 2017

Peter Redmond, who was responsible for implementing Walmart’s sustainability commitment, will lead commercial outreach for the Aquaculture Stewardship Council (ASC) in the United States and Canada.

ASC appointed Redmond, who worked at Walmart for 17 years, as vice president of market development for its North America operations. Redmond will start on 22 May.

“I am thrilled to be working back in the seafood sector with ASC,”

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By

Madelyn Kearns

Published on
May 10, 2017

North American value-added frozen seafood supplier High Liner Foods signed a definitive agreement on 10 May to acquire Rubicon Resources, LLC, a shrimp importer based out of the United States.

With expertise in importing and distributing sustainably-sourced frozen shrimp products to the private-label U.S. retail market, Rubicon can help grow and strengthen High Liner’s position in the shrimp category, explained the company.   

"I

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By

Jason Holland

Published on
May 10, 2017
Marine Harvest salmon

Driven by all-time high salmon prices, Marine Harvest achieved record first-quarter operational earnings before interest and taxes (EBIT) of EUR 220 million (USD 239.1 million) in the opening three months of this year, almost doubling the EUR 112 million (USD 121.7 million) posted in the corresponding period of 2016.

“There have been strong prices in Europe, strong prices in the Americas and this is backed with good demand in most markets.

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Published on
May 9, 2017

Thanks to its Red Lobster acquisition – as well as favorable foreign exchange rates – Thai Union Group’s net profits soared 19.3 percent to THB 1,469 million (USD 42.4 million, EUR 38.8 million) in the first quarter.

However, gross profits dropped 13.3 percent to THB 4,330 million (USD 125 million, EUR 114 milion), and gross profit margin fell from 16 percent in the first quarter of 2016 to 13.8 percent in the first quarter of

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Published on
May 9, 2017

Ocean Choice International (OCI), a seafood harvester and processor in St. John’s, Newfoundland, Canada, bought out its minority partner, Landvis Canada Inc.

Two of the founders of OCI, Martin Sullivan (CEO) and Blaine Sullivan (COO), are now the sole owners, making the company 100 percent locally owned and operated.

“This transaction is another important positive milestone for the future of OCI as a leading global seafood supplier,

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By

Mark Godfrey

Published on
May 4, 2017
Shenghai Foodstuffs

The parent company of China’s leading producer of dry seafood snacks is seeking a stock market listing to expand its distribution. 

Sheng Hai Foodstuffs is applying for a listing on the Hong Kong Stock Exchange, according to Dongxing Securities, a leading Chinese stockbroking firm. The company owns Wo Feng Hai Xian, which produces the well-known ‘Wo Feng’ brand of dried seafood snacks. 

The company, which claims to be

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By

Cliff White

Published on
May 3, 2017
DS-concept

German private lender DS-Concept has opened an office in Reykjavik, Iceland, with the goal of providing financing to promising fishing and seafood companies in the country.

The new office will also allow DS-Concept to better serve its existing customers in Iceland, as well as find new clients. Besides fishing and seafood, it has targeted the energy and aluminum smelting industries as staples for its Icelandic business.

“The services

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By

Cliff White

Published on
May 2, 2017

Cod fishing firm Fisk Seafood has contracted with Icelandic equipment and technology firm Skaginn 3X to outfit its new trawler, the Drangey. 

The contracted was formally signed on 26 April, 2017, at Seafood Expo Global. Once outfitted with his company’s technology, including its sub-chilling system, which eliminates the need for ice used in fish storage, Skaginn 3X Sales and Marketing Director Jon Birgir Gunnarsson said the

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By

Mark Godfrey

Published on
May 2, 2017
James Parfitt

James Parfitt is the co-founder and CEO of New Zealand Wild Catch Limited, a company that catches sea cucumber in New Zealand and exports to China. In an interview with SeafoodSource, Parfitt explained how he’s spent almost a decade researching and establishing his high-end seafood brand, which he recently began marketing through social media and shopping channels. 

SeafoodSource: What is the origin story of New Zealand Wild Catch and

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Published on
April 24, 2017
National Fish and Seafood

Richard Pandolfo, a senior sales executive at National Fish & Seafood in Gloucester, Massachusetts, United States, pleaded guilty in federal court in Boston to tax fraud on 20 April. He will be sentenced on 13 July.

Pandolfo was indicted on the tax fraud charges by a federal grand jury last June for failing to pay nearly USD 26,000 (EUR 23,404) in taxes.  

From 2008 to 2012, Pandolfo received “substantial supplemental

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