Stad, Norway-headquartered cod farming company Statt Torsk AS has lost some 48,000 fish in a sudden mortality event at one of its facilities, with the cause of the losses yet to be ascertained.
In a filing with the Oslo Stock Exchange, Statt Torsk confirmed that there had been sudden mortality of fish in two of its three pens at the producer’s Stokkeneset site.
Results after cleaning up the mortality event established a loss of 48,000 fish, corresponding to a biomass of about 106 metric tons (MT) – constituting 24 percent of the fish that were in the facility, the company said.
“Results of samples taken are expected next week, but the company still considers that the incident was caused by external happening,” the company said. “Expected sales volume this autumn will be reduced with approximately 200 MT to approximately 600 MT. Based on full production, this constitutes approximately 5 percent of the capacity in a facility.”
Statt Torsk said it is working with its insurance company to calculate its losses, and that the process of seeking reimbursement would take time. However, it said that the incident would not cause any delay in the company's production plans.
A final report will be provided as soon as possible, and this is planned to be achieved within two weeks, it said.
In March, Statt Torsk raised NOK 115 million (USD 13 million, EUR 11 million) through a private placement. It was admitted for trading on the Euronext Growth in April.
The company also signed a five-year marketing, sales, and distribution partnership agreement with Lerøy Seafood in April. Together, the companies have been working on a sales plan that acknowledges the need to develop and mature the market for farmed cod.
The company’s second farming location, Rekvika, was inaugurated in the first quarter of 2021, with operations beginning in March.
Statt Torsk had planned to harvest approximately 800 MT of cod this fall.
Photo courtesy of Statt Torsk AS
