Nordlaks celebrates year of significant investment

Nordlaks, the company behind the giant Havfarm1 salmon farming platform, invested more than 850 million kroner (£72 million) in 2019 – a year which it says an algae bloom outbreak affected production. Nordlaks reported operating revenues of NOK 3.06 billion (£260 million), up from NOK 2.95 billion (£251 million) the previous year. After tax and…

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Salmar faces Ocean Farm escape probe

Salmon farming giant SalMar is facing an official investigation following the escape of salmon from its giant offshore platform Ocean Farm 1. It is not yet known how many fish became free, but Norway’s Directorate of Fisheries said it cannot rule out the possibility of a major escape at the site. The Directorate said in…

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Big rush to buy into Salmon Evolution

The Norwegian land based aquaculture company Salmon Evolution looks set to raise 500 million kroner – or more than £42-million – in new capital following a private placement of shares that was several times over subscribed. It was announced only a few days ago that Salmon Evolution is partnering Dongwon Industries, South Korea’s largest fishing…

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69% drop in China exports

China delivered the biggest export hit to Norwegian salmon farmers during August, according to the country’s seafood council. A year ago it was the largest growth market by far, but because of Covid-19 and the various scares around the pandemic, sales have slumped. Salmon exports alone to China fell by 69 per cent when compared…

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Go ahead for advanced South Korean salmon farm

Dongwon Industries, South Korea’s largest fishing group, has announced that it intends to go ahead with its plan to enter the aquaculture business by building a large environmentally land based smart salmon farm in the country. Dongwon is linking up with Norway’s Salmon Evolution by investing in the business and using its advanced technology. Work…

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Sharp drop in August salmon exports

Norwegian salmon exports took a big Covid hit during August, the latest figures out today show. Overseas sales fell by seven per cent in volume terms to 95,100 tonnes and were down 13 per cent in value to NOK 5.3 billion (£448 million) on the same month last year. Paul T. Aandahl, analyst at the…

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ISI swoops for artisan salmon smoker

The fast expanding company Iceland Seafood International (ISI) has signed a Letter of Intent with the Mondi Group AB of Sweden to acquire all the share capital of the artisan Irish smoked salmon business Carr & Sons Seafood Limited. Based in County Mayo, the firm has a long established reputation for high quality smoked and…

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AKVA wins Iceland feed barge deal

The Icelandic salmon company Laxar Fiskeldi is to buy a large new feed barge from the AKVA group to meet an expected east coast increase in output over the next few years. The vessel, known as the AC 650 Panorama has a large feeding capacity of 650 metric tons in 12 silos, eight feeding lines…

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SSF serves up profit for SalMar

Following losses at the start of the year, Scottish Sea Farms (SSF) produced a modest second quarter profit for salmon farming giant SalMar, the Norwegian company has revealed in its latest financial report. SSF, also known as Norskott Havbruk and which SalMar shares with the Lerøy Seafood Group, returned revenues of NOK 465 million (£39.4…

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Bakkafrost cites \’covid uncertainty\’ as dividend pulled.

Despite an equity ratio of 69 per cent, Bakkafrost has decided to forgo paying a dividend for 2019 because of the continued uncertainty surrounding Covid-19. The Faroese fish farming group said after unveiling its 2020 second quarter results yesterday that its financial position remained strong with a solid balance sheet, a competitive operation and available…

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