Archive for August 2023
Norcod revenues up, but losses also rise
Norcod saw its revenues rise by almost 40% during the second quarter of this year driven by increased harvesting, the company reports. However, Norcod’s losses also increased by NOK 6 million (£440,000) to NOK 47m (£3.48m) during the April to June period. The pioneering cod farmers revenues totalled NOK 39m (£2.88m) on a harvest of…
Read MoreSwiss Blue Salmon seals deal with VAQ for Alpine farm
Swiss Blue Salmon, the company planning to establish a land-based salmon farm in the Alps, has chosen the Norwegian aquaculture technical company VAQ to build the facility. The location is the attractive Alpine canton of Glarus in the east of Switzerland. When completed the farm should be able to provide 3,400 tonnes or 8% of the…
Read MoreLabour’s Murray backs salmon farming
Shadow Scotland Secretary Ian Murray has praised the salmon farming sector’s “immense contribution” to the Scottish economy and its “crucial” support for livelihoods. The Labour MP toured Bakkafrost Scotland’s Loch Roag salmon farm on Lewis, in the Western Isles. He was joined by Western Isles Labour candidate Torcuil Crichton and welcomed to Loch Roag by…
Read MoreAtlantic Sapphire breaches loan terms as losses mount
Florida land-based salmon farmer Atlantic Sapphire saw its losses more than triple during the first half of this year. The company’s 2023 half year report also shows that the company is in breach of its loan terms, as a result of its financial performance. Now Atlantic Sapphire has engaged DNB Markets and Arctic Securities to explore…
Read MoreGrieg facing major health issues in northern Norway
Serious ongoing biological issues have led to a sharp drop in Grieg Seafood’s 2023 second quarter EBIT or operating profit, the company has disclosed. The group’s Q2 EBIT fell from NOK 986 million (£73m) last year to NOK 547m (£40m) this time. Grieg sold its Scottish business over two years and now farms in Norway…
Read MoreProximar prepares for first Mount Fuji harvest
Proximar Seafood is strengthening its production team in readiness for its first salmon harvest near Mount Fuji in Japan in around 12 months’ time. Presenting its second quarter results, the Norwegian land-based farming company said it has now completed acquisition of the land, adding that the transfer will reduce financing costs as announced in the…
Read MoreSeafood war looms after Japan releases nuclear plant water
An inter-Asian seafood war is threatening after Japan began releasing waste water from the earthquake-damaged Fukushima nuclear power plant. China became the latest country to ban imports of all types of Japanese seafood while South Korea has stopped taking fish caught or farmed from the area around the now abandoned power plant. Anti-Japanese sentiment is…
Read MoreSensor Globe wins Innovation award
A Canadian company that has developed a way to keep tabs on fish welfare during treatments and transfers has won the prestigious Innovation Award at the Aqua Nor trade show in Trondheim today. Sensor Globe, developed by Nova Scotia based Marin X, employs acceleration measurements alongside water quality monitoring to enhance fish welfare and reduce…
Read MoreAndfjord Salmon moving into top gear
Andfjord Salmon, one of Norway’s youngest land based fish farming companies, has said it is rapidly advancing with the expansion of its aquaculture facility at Kvalnes, Andøya. The summer months saw successful preparatory efforts and the deployment of personnel and equipment, setting the stage for the next phase of construction. Two months ago, Andfjord Salmon…
Read MoreSalMar reports strong Q2, but SSF continues to disappoint
SalMar today reported a 2023 second quarter operational EBIT or profit of NOK 1,745 million (£130m) – around £55m higher than for same period last year. The world’s second largest Atlantic salmon farmer said Norway delivered the strongest performance with an EBIT of NOK 1,790m (£132m), adding that Scottish Sea Farms in which it owns…
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