Fjords, the Faroes and flying fish

Faroes fish farm

For a small fish farming nation, this rocky archipelago punches above its weight, writes Robert Outram. Additional reporting: Vince McDonagh The Faroese Research establishment formerly known as Fiskaaling has a new name: Firum. To understand why, a brief lesson in the Faroese language is required. As Chief Executive Jóhanna Lava Køtlum explains, “fiskaaling” translates as…

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Bakkafrost Scotland recovery continues into 2024

Bakkafrost says its Scottish arm is on a steady but positive road to recovery, despite the latest trading update which shows a year-on-year fall in production for this year’s first quarter. The Scotland division has reported a harvest of 7,300 tonnes for the January to March period. This compares to 8,100 tonnes a year earlier,…

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Sector set for growth

Rabobank’s look ahead to 2024 suggests better days are coming for aquaculture producers, reports Vince McDonagh After a turbulent 2023, the aquaculture industry – and the salmon sector in particular – looks set to rebound next year, according to a report based on input from producers worldwide. What to expect in aquaculture in 2024, the…

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Bakkafrost to postpone some slaughtering as profits drop

The Bakkafrost Group delivered a total operating EBIT or operating profit of 269 million Danish kroner (£31m) during the Q3 July to September period this year, down from DKK 325m (£37m) 12 months ago. With lower harvests from the Faroe Islands and problems in Scotland, the results were not unexpected, but the company has also…

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Producer’s switch from air freight slashed carbon emissions

Faroese salmon farmer Hiddenfjord says it has cut 200,000 tonnes of CO2 emissions since it decided to stop exporting salmon by air. The family-owned company has just celebrated the first anniversary since declaring it was moving exclusively to sea transport. On October 10 last year, Hiddenfjord stopped using all air freight, making the company the…

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JT Electric sparks deal to buy out Sterner UK

Faroes group JT Electric has acquired specialist fish farming equipment Sterner UK, for an undisclosed sum. The deal means the current management of Sterner UK will become shareholders in JT electric. Sterner UK is based in Scotland. Gregor Sutherland, Managing Director of Sterner UK, said: “JT electric operates worldwide and Sterner UK is delighted to…

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Bakkafrost bullish on Q3 results

Faroese fish farmer Bakkafrost, owners of the Scottish Salmon Company, today announced a third quarter EBIT of 102.7 million Danish kroner (DKK) (£12m) during what has been a difficult period for salmon farmers. Comparisons with Q3 2019 do not apply this time because during that period SSC was not an integral part of the group.…

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Bakkafrost reports Q1 loss despite SSC earnings boost

THE Scottish Salmon Company (SSC) helped Bakkafrost, its new owner, deliver a first quarter EBIT (earnings before interest and tax) of 248.1 million Danish kroner (£29-million) during the first three months of this year in what it describes as a \’challenging period due to Covid-19\’. The Faroese salmon farming company acquired SSC in a £500-million…

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Bakkafrost saves unique salmon strain from extinction

BAKKAFROST has revealed it is working to save a strain of North Atlantic salmon unique to the Faroe Islands that was in danger of becoming extinct, in a move that is starting to deliver success.. Chief executive Regin Jacobsen has told shareholders that the operation stems from large scale investment at its farming and harvest…

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