News
Norway’s Finance Minister downplays tax challenge
Trygve Slagsvold Vedum, the Finance Minister who announced Norway’s “salmon tax” tax almost a year ago, has said he is not concerned about the prospect of a legal challenge to the tax by the country’s biggest fish farmers. Stating that he believes the government to be on safe legal ground, Vedum said: “Mowi has been…
Read MoreKingfish defeats Maine planning challenge
A legal bid to stop The Kingfish Company’s land-based yellowtail farm in Maine, USA has failed at the appeal stage. The project, which would see a recirculating aquaculture systems farm built near Jonesport, Maine, had been opposed by the Roque Island Gardner Homestead Corporation and Eastern Maine Conservation Initiative, but yesterday the Superior Court of…
Read MoreTax forces Måsøval to axe semi submersible project
The Norwegian fish farming company Måsøval has cancelled a major semi-submersible salmon farm project because of the ground rent (or “resource rent”) tax. Known as Aqua Semi, the closed roof scheme was designed to open up new areas in salmon farming, reduce lice and disease. But Måsøval, which put the project on hold last year,…
Read MoreASC awards open for entries
The Marine Stewardship Council’s annual awards event this year will once again recognise excellence in aquaculture. For the third consecutive year, the Aquaculture Stewardship Council (ASC) is sponsoring a range of dedicated awards at the MSC event, which is set to take place at the historic Fishmongers’ Hall in London on Thursday, 26 October 2023.…
Read MorePoliticians galore
While it’s easy to blame elected politicians when regulations appear to place excessive burdens on the aquaculture sector, perhaps we should give them a break and consider that the problem may lie with those who are informing and advising them. So says Nick Joy, in the August issue of Fish Farmer. You can read it…
Read MoreNorcod 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…
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