News
Cermaq warns of salmon tax consequences
A senior Cermaq executive has spelt out a number of likely consequences if the Norwegian government decides to implement its salmon tax without changes. Lars Galtung, head of sustainability and communications at the company, accused the government of rushing through its proposals for a so-called “ground rent” tax without due consultation. He hoped the Finance…
Read MoreIcelandic Salmon sees big jump in profit and revenue
Icelandic Salmon, the parent company of Arnarlax, has announced a big increase in its 2022 final quarter operating income, which was up by almost €16m year on year, to €51.7m (£46m). For 2022 as a whole income rose to €157.6m (£140.4m) against €90.8m (£80.9m) in 2021, an increase of 74%. The Norwegian group SalMar owns…
Read MoreChilean salmon farmer in debt default
The large Chilean salmon company Nova Austral has admitted it is in debt default after grappling with various financial problems. So far, a plea for patience from bondholders has met with a cool response. Although the company is based in Chile, its bonds are listed on the Oslo Stock Exchange. Nova Austral said in a…
Read MoreNorcod yet to find profit as sales hold steady
Norwegian cod farmer Norcod has reported 2022 fourth quarter sales of NOK 51.48m (£4.1m), almost the same as for Q4 2021. The operating loss before fair value adjustment for the quarter totalled NOK 32.3m (£2.5m) The operating loss for 2022, again before fair value adjustment, was NOK 123.1m (£9.8m) Norcod said it has been able…
Read MoreCutting fossil fuel dependency at heart of new EU aquaculture and fishery plan
The European Commission has outlined a new package of measures to improve the sustainability of the trading bloc’s aquaculture and fishery sectors. The main objectives are to promote the use of cleaner energy sources and reduce dependency on fossil fuels, as well as reducing the sector’s impact on marine ecosystems. The Commission said the proposals…
Read MorePublic meeting thumbs up for Samherji’s huge salmon farm
Icelandic seafood group Samherji is to press ahead with plans for a giant salmon farm in the south west of the country after receiving broad approval from local residents. At a recent public meeting the company outlined its plans for the £260m, 40,000 tonne land-based facility, near Reykjanes. Local residents were invited to the public…
Read MoreGlobal Seafood Alliance Director calls for collaboration
Through collaboration, all those involved in aquaculture can tackle the challenges faced by the industry and by the planet itself. That’s the message from Melanie Siggs, Director of the Global Seafood Alliance, ahead of the Blue Food Innovation Summit which takes place in London on 23-24 May. Melanie Siggs, who will be a speaker at…
Read MoreNorway’s seafood exports up in value, down in volume
The impressive start to the New Year for Norway’s seafood exports continued during February, the latest figures show, with values rising despite a fall in volume. In value terms, seafood exports rose by 14% to NOK 12.8bn (just over £1bn) with salmon again the main driver. But overall volumes were down by 17% to 207,000…
Read MoreLerøy looking to US for growth
The Lerøy Seafood Group has said it is not satisfied with growth development in its salmon and trout farming sector and is planning to implement a series of measures to increase revenue in this segment. Part of that will be a drive in the United States, CEO Henning Beltestad said during his presentation of the group’s…
Read MoreNorwegian politicians look at Faroes salmon tax model
A group of Norwegian politicians have travelled to the Faroe Islands to look at its fish farming tax model, which is generally regarded as being less hostile towards the industry. The initiative for the visit came from the employer organisation Seafood Norway and the five-strong group includes national and local representatives on the right and…
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