High temperatures set to slow Atlantic Sapphire’s growth for Q3

Florida-based salmon farmer Atlantic Sapphire said today that it had harvested a total of around 400 tonnes (heads on gutted) during the second quarter of this year, in line with expectations.

Revenues for the first six months of this year will be around US $8m (£6.3m), it added.

But the company has warned that there will be a lower than expected biomass gain in the third quarter (July to September) Q3 2023 due primarily to elevated farming temperatures and their impact on overall water quality. This has resulted in a lower standing biomass than earlier estimated.

Standing biomass at the end of last month was estimated to 2,700t RLW (live weight). More water chillers will be installed to ensure sufficient capacity at peak demand for cooling and the company expects the temperature issue to be solved in Q3 2023.

Atlantic Sapphire said more water chillers will be installed to ensure sufficient capacity at peak demand for cooling and the company expected the temperature issue to be solved during the current quarter.

It added: “All else equal, this indicates a lower biomass gain and revenue in H2 2023 compared to what the company expected.”

The full Q2 report, together with an operational update, will be published on 24 August.

Atlantic Sapphire completed the first commercial harvest of its pioneering Bluehouse (land-raised) salmon in the US in September 2020.

The company is currently constructing its Phase 2 expansion, which will bring total annual production capacity to 25,000 tonnes, and has a long-term targeted harvest volume of 220,000 tonnes.