Archive for February 2022
Mortalities set to cost Arctic Fish £9m
The Icelandic salmon company Arctic Fish has revealed that the biological incident which hit one of its sites last week has cost the company around ISK 1.5bn, almost £9m. The total loss in fish in Dýrafjörður in the Westfjord now appears to be far higher than first reported 10 days ago. Arctic Fish, which is…
Read MoreConsortium plans RAS salmon farm in Abu Dhabi
A consortium of European and Middle Eastern businesses has announced plans to build a land-based salmon farm in Abu Dhabi, in the United Arab Emirates (UAE). The companies behind the RAS (recirculating aquaculture systems) farm plan are Tech Group, a UAE-based diversified group of companies, Ocean Harvest, a technology-enabled aquaculture business recently set up in…
Read MoreSAIC projects set to boost industry’s revenue by £50m
Projects funded by the Sustainable Aquaculture Innovation Centre (SAIC) will deliver additional turnover of £50m per annum for the companies involved by 2026, according to an independent economist’s report. Sixty projects funded by SAIC over its first and second phase were found to have a combined value of £52.7m, 60% of which – £31.4m –…
Read MoreFrøy reports jump in earnings and profits for Q4
Norwegian wellboat and aquaculture services company Frøy reported a strong finish to 2021 with increased profits and a healthy order book, its Q4 results show. Frøy is one of the divisional businesses within the NTS salmon farming group which is about to become part of SalMar. The results show the business would make an attractive…
Read MoreEx-Mowi man to lead Grieg’s sales push in North America
Grieg Seafood has appointed Ken Taylor, a former Mowi executive, to develop its North American business. Ken Taylor has spent more than 35 years in seafood sales and marketing. He will lead the development and execution of Grieg Seafood’s downstream strategy in the North American market. Grieg Erik Holvik, Chief Commercial Officer Grieg said: “Grieg…
Read MoreUK’s subsea sector ‘could reach £45bn’ by 2035
The UK’s underwater sector, currently accounting for £8bn in revenue, has the potential to grow to £45bn by 2035 in line with a rapidly expanding global market – and aquaculture is helping to drive that demand. So says the Global Underwater Hub (GUH), a new trade and marketing body officially launched this week at the…
Read MoreBenchmark earnings soar with new lice treatment
Aquaculture health and nutrition group Benchmark has reported a big jump in revenue and profits for the first quarter of 2022, after its long-awaited CleanTreat sea lice treatment started its first commercial operations. Group revenues were up 38% year-on-year to £40m (Q1 2021: £3m) and adjusted EBITDA (earnings before interest, tax, depreciation and amortisation and…
Read MoreSalmon prices hit new heights
Salmon prices are continuing to rise at their fastest rate for more than two years, according to the latest report from Statistics Norway. Scotland and Iceland are also experiencing a spike in prices as demand outstrips availability. Some reports put the top level at almost NOK 100 (£8.24) per kilo for the very largest fish,…
Read MoreBakkafrost Q4 earnings below expectations, but Scotland improving
Bakkafrost today unveiled a well below par 2021 fourth quarter operational profit (EBIT) of 120m Danish kroner (£13.5m) as biological problems continued to affect its Scottish Salmon Company business. But the better news is that mortality rates in Scotland, which have dampened results over the past year, are returning to normal. Harvest volumes during the…
Read MoreNutreco, Holmøy to invest in Andfjord Salmon
Multinational feed giant Nutreco and Norwegian seafood group Holmøy are investing in land-based fish farmer Andfjord Salmon. The deal is part of a NOK 38m (£3.1m) private placement for Andfjord. As part of the deal, Andfjord has also entered into a feed supply arrangement with Nutreco’s aquaculture subsidiary, Skretting. Skretting’s experts will also participate in…
Read More