Every week, we review the exclusive articles from the previous week on Undercurrent News.
This is what we pride ourselves on: working hard to bring exclusive and quality content.
You can email the article author by clicking on the name attached to each story. We are always open to tips and thoughts.
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September 09, 2016
Upcoming conference marks more collaboration in Canadian aquaculture
By Ola Wietecha
This year’s Aquaculture Canada and Cold Harvest Conference and Trade Show marks the first time two of Canada’s main aquaculture associations are joining forces
Strong US, Canada sales driving Siam Canadian to record year
By Neil Ramsden
Founder of Thailand-based importer/ exporter, Jim Gulkin, says turnover is well on track to surpass $300m, as container volumes to date indicate a record year
Icelandic confirms sale of Iberica, new group aims to promote existing brand
By Neil Ramsden
As broken by Undercurrent, Icelandic Group has sold its Iberica division to Solo Seafood, made up of some of Iceland’s largest suppliers to Spain
UK processor rides out Asda contract loss to Young’s, remains in black
By Neil Ramsden
Vistgate – which lost a major contract with retailer Asda in 2015 – saw its revenue drop 25% as it was forced to restructure and relocate a subsidiary
Disease has cost Asia shrimp sector over $20bn
By Ross Davies
Despite producing more than 2.66 million metric tons of whiteleg shrimp, the Asian industry has lost at least $20bn over the last decade at the hands of disease
Marine Harvest order latest for Norwegian yard refocused on seafood
By Tom Seaman
An order for a salmon transport vessel from Marine Harvest’s new JV is the latest in the seafood sector for Kleven, which didn’t build a new fishing vessel for close to ten years
Cod suppliers buying Icelandic Iberica
By Tom Seaman
Three largest suppliers of Icelandic Group’s Spain-based business are buying it
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September 08, 2016
Russian pollock fillet production up sharply in 2016
By Neil Ramsden
Country’s catchers have landed 3% more pollock so far this year, but production of fillets and mince are up strongly year-on-year
El Nino dampens squid JV hopes for Thai processor Anusorn
By Ross Davies
Weather phenomenon has dented imports of raw materials from Chile and Peru; the company’s plan to ramp up production to around 1,000t has not been met
New marketing campaign may help raise prices of Bristol Bay sockeye amid ongoing low prices
By Ola Wietecha
The Bristol Bay Regional Seafood Development Association’s new marketing push is leaving the industry hopeful for higher prices
Honduras shrimp farmer Seajoy ramps up value-added products
By Matt Craze
Seajoy, the second-biggest shrimp farmer in Honduras, is now processing 80% of its harvests as value-added products, tapping into a fast growing market
Sykes Seafoods testing Asian exports
By Jason Smith
Fresh off moves to secure access to seafood supply through new joint ventures and diversify into the UK’s chilled market, Sykes Seafoods is venturing into Asian exports
Indian shrimp sector must tackle vannamei production challenges to grow again
By Ross Davies
Industry needs a ‘comprehensive quality control program’ to plug holes, according to Ravikumar Yellanki, managing director of Vaisakhi Bio-Resources
Dias completes Selonda asset transfer
By Ross Davies
Dias — which went into liquidation earlier this week — completed the transfer of its assets to fellow national player on June 2
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September 07, 2016
Skipjack prices stable as FAD closure nears end
By Neil Ramsden
Typical price easing expected as FAD closure nears its end, though poor catching in some areas and some buyers dropping out of market confuses picture
Data shows Alaska’s southeast Dungeness fishery went as expected, despite west coast domoic acid
By Ola Wietecha
Southeast Alaska’s summer Dungeness crab fishery suggests that that market was not affected by the elevated domoic acid levels that devastated the US west coast
CP’s McIntosh: Shrimp sector must focus on ‘sustainable intensification’
By Ross Davies
Robins McIntosh, senior VP at the Thai group, used his address at the latest TARS conference to urge shrimp-producing countries to focus on yielding more from less
Young’s parent reports £49m Q3 loss with debt pile rising
By Tom Seaman
The parent company of Young’s Seafood reported a £49.33m net loss for the third quarter of its financial year, due to the level of interest on its debt pile
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September 06, 2016
Japan scallop firms hope for more US exports with domestic demand down
By Minato-Tsukiji
Domestic sales have shrunk due to high port prices, export prices are going up due to the strong yen and the Chinese economy is slowing down
Ecuador sees 31% drop in July shrimp exports
By Ola Wietecha
US shrimp imports in July increased year-on-year from each of the top six exporters except Ecuador, which saw its exports drop over 31%
Turkey’s Sagun acquires 6,000t bass, bream farmer
By Neil Ramsden
Seabass and bream producer has expanded by buying mid-sized rival Tabaoglu
Turkish yard notes interest from Russian owners
By Tom Seaman
Russia is looking to stimulate fleet renewal by offering quotas to yards that build in the country, but some owners are apparently still looking overseas
Blumar’s salmon business offsets falling pelagic catches in H1
By Matt Craze
Blumar’s salmon business became bigger than its fisheries unit in the first half of this year because of declining landings of pelagic fish
Norway’s Coast Seafood sees profits rise 25% in 2015
By Neil Ramsden
Sales firm hits a new record revenue, and strengthens margins, as salmon prices rise
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September 05, 2016
TFFA president: Thai TIP report upgrade should have come sooner
By Ross Davies
The recent decision by the US to remove Thailand from its list of worst human trafficking offenders should have been made in 2015, according to Poj Aramwattananont
Campaigners claim new NOAA rules could see Scottish salmon banned from US
By Neil Ramsden
Anti-salmon farming campaigners say new US regulations prohibiting the intentional harming of marine mammals could mean trouble for Scottish farmed salmon exports
Regal Springs hires veteran US salmon sales exec
By Neil Ramsden
Patty Mann, previously of Icicle Seafoods and Cooke Aquaculture, joins the new-look tilapia giant
Demand spike pushes live lobster prices to highest August pricing in decade
By Seafood.com NEWS
Live lobster prices have spiked again this past week, as retailers stock up for labor day weekend
Multiexport says higher prices cancel out algal bloom losses
By Matt Craze
Multiexport Foods said higher prices caused by lower volumes from Chile canceled out the losses that the company sustained to algal bloom earlier this year
Jessie Ng ‘surprised’ at $7bn in intercompany Pac Andes group claims
By Tom Seaman
There are over $7bn in intercompany claims in the Pacific Andes group that Jessie Ng, managing director, could not explain in a court hearing, according to legal document
Lenders question Pac Andes using ex-director to investigate ‘suspicious’ Russian pollock pre-payments
By Tom Seaman
‘So-called’ Pac Andes independent review committee hired former non-exec director to investigate ‘suspicious’ Russian pollock payments, legal document states
Ngs would need $2.8bn for Pac Andes Peru assets to get anything
By Tom Seaman
Even sale of Pac Andes’ Peru anchovy assets at $1.6bn would leave Ngs ‘more than a billion dollars out of the money’, thus family has no incentive to sell, states court document
Seafood Expo Asia 2016 blog: Native American, Alaskan groups showcasing salmon crab products in Asia
By Jason Smith
Undercurrent News is reporting live from Hong Kong this week for Seafood Expo Asia, which runs from Sept. 6-8