Business & Finance

Published on
August 31, 2018

St. Petersburg, Florida, U.S.A.-based seafood company Newport International has hired Jay Gallagher as its new director of sales for the U.S. Southwest region, the firm announced on 30 August. 

In the newly-created role, Gallagher will be in charge of selling Newport’s branded products to the company’s existing and future distribution clients. He will also work on product placement initiatives among foodservice chains and

Read More
By

Cliff White

Published on
August 31, 2018

Blue North Fisheries has parted ways with CEO Kenny Down, according to Down’s LinkedIn profile.

Down left the Seattle, Washington-based company, which owns and operates five freezer longline vessels harvesting cod in the North Pacific, in August 2018, according to his profile.

“After more than [six] years with a large fisheries company operating in the North Pacific producing more than 12,000 metric tons per year of finished

Read More
By

Chris Chase

Published on
August 30, 2018

Shucks Maine Lobster, based in Richmond, Maine, U.S.A., is proposing a new ‘trap-to-table’ seafood complex on the Portland, Maine waterfront. 

The complex would consist of a processing plant, seafood restaurant, and marine education center in a two-story, 16,000-square-foot building. John Hathaway, the owner of Shucks Maine Lobster, said the facility is estimated to create 80 new jobs. 

The proposal was brought before the

Read More
By

Mark Godfrey

Published on
August 30, 2018

Investors were nonplussed when leading Chinese aquaculture and seafood importing firm Zoneco recently reported a 52.4 percent fall in net profits for the first half of 2018, down to CNY 14.6 million (USD 2.1 million, EUR 1.8 million) on revenues of CNY 1.40 billion (USD 204 million, EUR 176 million). 

Once the darling of investors, Zoneco, which goes by its Chinese name Zhangzidao, said the results show improvement in its financial position

Read More
By

Cliff White

Published on
August 28, 2018

IJmuiden, The Netherlands-based seafood firm Cornelis Vrolijk has acquired Kegge Garnalenhandel BV, a fisher, peeler, and packager of North Sea shrimp, according to Dutch newspaper de Jutter/de Hofgeest.

Kegge was bought out of bankruptcy by shrimp importer Vishandel Tel in 2012, and after moving its operations to Ijmuiden, the company upgraded Kegge’s peeling machines and successfully pursued certifications from the Marine Stewardship

Read More
By

Jason Holland

Published on
August 28, 2018
SalMar

Cost improvements and another three months of high salmon prices helped SalMar achieve total operational earnings before interest and taxes (EBIT) of NOK 878.6 million (USD 105.3 million, EUR 90.5 million) in the second-quarter of this year, down from NOK 983 million (USD 117.9 million, EUR 101.3 million) in Q2 2017.

The Norway-headquartered producer would have posted even better results had some 45 percent of the quarter’s volume not been

Read More
By

Chris Chase

Published on
August 28, 2018

The Cape Ann Seafood Exchange in Gloucester, Massachusetts, U.S.A., has been closed in the wake of the U.S. Labor Department seizing all the bank accounts of the auction, leaving it unable to pay fishermen for landed fish. 

The auction, owned by Kristian Kristensen, had its accounts seized on 17 August and quickly began running into financial trouble as a result. The seizure was related to a civil action filed by then-Secretary of Labor

Read More
By

Colin Bennett

Published on
August 27, 2018

An escape of 650,000 salmon after a storm in July will result in a USD 3.5 million (EUR 3 million) reduction in Marine Harvest’s Chile operational earnings before interest and taxes (EBIT) for the second half of 2018, according to the company. A deadline to catch 10 percent of the escaped fish or risk facing further penalties is set to expire on 3 September.

The company reported the reduction in its earnings report for the first half of

Read More
By

Jason Holland

Published on
August 21, 2018

Bakkafrost Group delivered total operating earnings before interest and taxes (EBIT) of DKK 407.9 million (USD 63 million, EUR 54.7 million) in the second-quarter of this year, down from DKK 459.1 million (USD 70.9 million, EUR 61.6 million) in the corresponding period of 2017. 

The Faroe Islands-based Atlantic salmon farmer’s operating revenues fell to DKK 954.3 million (USD 147.4 million, EUR 128 million) for the last quarter, and

Read More
By

Chris Chase

Published on
August 21, 2018

The National Oceanic and Atmospheric Administration’s northeast fisheries sector has announced that it will be reimbursing at-sea monitoring costs for the northeast groundfish sector. 

The reimbursements will cover all northeast groundfish sector vessels fishing in the 2018 fishing year – 1 May, 2018, through 30 April, 2019. In addition, NOAA plans to add 25 percent to its existing 2017 reimbursements, bringing the total

Read More