Posts Tagged ‘Chile’
Mowi Scotland’s Q4 harvest unchanged at 10,500 tonnes
Mowi Scotland harvested 10,500 tonnes of salmon in the final quarter of 2023. The figure was unchanged from the equivalent quarter the year before but the operation produced a loss, a trading update from the company today shows. Globally, Mowi – the world’s largest salmon farmer – produced 129,000 tonnes during the period and a…
Read MoreStill no sign of end to Chilean salmon farmer agony
Shareholders in the troubled Chilean salmon farmer Nova Austral are still waiting to hear what is going to happen to the company. After several postponements since the summer, a decision on its future was expected this week, but that has been delayed for at least a further week – with still no guarantee the issue…
Read MoreSouthern Chile hit by new toxic algal outbreak
Salmon farmers in the south of Chile are battling against another large toxic algal bloom which has already cost the sector thousands of tonnes in lost fish in the past few weeks. Losses are already approaching 3,000 tonnes in Atlantic and Coho salmon. So far, farms run by AquaChile and Blumar (pictured) seem to be…
Read MoreStill no agreement on Nova Austral debt crisis
The long-running saga over the troubled Chilean salmon farmer Nova Austral will now drag on into the New Year. It had been hoped a rescue package could be reached by the end of last week, but the creditors again rejected various proposals in a revised reorganisation agreement filed with a court in Chile. This is…
Read MoreNova Austral unions in plea to Chilean government
Trade unions representing workers at the troubled Chilean salmon company Nova Austral have sent a message to the government pleading not to let the business go under. Nova Austral, which farms in southern Chile, is said to owe more than US $500m (£409m). The company employs 800 people directly and supports some 2,000 indirect jobs.…
Read MoreChile loses thousands of salmon and trout to algal blooms
Coho salmon and trout in Chile have perished prematurely in their thousands, in what appears to be a mass mortality episode . The incidents have been centred around the Los Lagos region, with the latest reports suggesting that more than 500 tons of fish have already perished, representing around 2% of the total biomass in…
Read MoreProfit collapse hits major Chilean salmon farmer
The big Chilean salmon farmer Salmones Camanchaca suffered a price collapse during the July to September third quarter period and operating revenue fell despite higher harvest volumes, the company has disclosed. It has blamed lower prices and higher costs as being among the main reasons for the situation. The Atlantic Salmon harvest volumes totalled 17,760…
Read MoreNova Austral rescue plan delayed for fifth time
A decision on the future of the large Chilean salmon farmer Nova Austral has been pushed back yet again. Shareholders were due to vote on a rescue package in the form of a new agreement yesterday, but creditors decided they needed more time to consider what is described as a Revised Organisation Proposal. A decision…
Read MoreNova Austral rescue plan delayed again
The hoped-for financial rescue package for Nova Austral, one of Chile’s principal salmon farmers, has been delayed yet again. Creditors met yesterday to discuss a reorganisation agreement that sets out a number of alternatives. They failed to reach an agreement, however, and in a brief Oslo Stock Exchange statement the company said the meeting was…
Read MoreChile’s Nova Austral moots rescue package
Struggling Chilean salmon farmer Nova Austral is proposing a major financial shake-up to help get it out of its troubles. The company, which filed for bankruptcy protection during the summer, is reported to owe almost US $560m (£461m). Much of that debt is held by just two creditors. Nova Austral said, in a report to…
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