All aboard the \’Salmon Express\’

THE train has started to take the strain in moving salmon and other seafood from Norway into key European markets. A new direct service opened up this weekend from the northern port of Narvik to the southern Swedish city of Malmo where the fish is loaded onto refrigerated lorries for onward distribution to processing facilities…

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Asset sale boost for Norway Royal Salmon

NORWAY Royal Salmon today reported lower margins for both the final quarter last year and for the whole of 2019. But the results are generally seen as reasonably satisfactory and the company benefited considerably from the substantial asset sale of its southern Norwegian business to local fish farming companies. The company announced a Q4 operational EBIT of…

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Study finds shortcomings in handling algae attack

THE economic and social impact of the algae outbreak which hit two important Norwegian salmon farming areas last May was more severe than first thought, a report has suggested. It also says some aspects in tackling the problem were not handled well. The independent aquaculture and fisheries data provider Kontali, which has closely mapped and analysed the…

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Bakkafrost shares soar after SSC deal

BAKKAFROST share prices have climbed by more than 20 per cent since it bought the Scottish Salmon Company (SSC) three months ago. They were being quoted on the Oslo Stock Exchange seafood index yesterday at NOK 693 (£60 plus) per share, with predictions they could touch NOK 700 shortly. The share price was under NOK 500 less…

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Norwegian farm hit by ISA outbreak

INFECTIOUS Salmon Anaemia (ISA) has been confirmed at a sea based site run by Norway Royal Salmon in the north Norwegian region of Finnmark. The Norwegian Food Safety Authority is reporting the outbreak at Lille Kufjord, some 800 miles north east of Oslo; it is based on the positive analysis of tests taken at the…

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Everyone should own salmon shares says analyst

THE salmon farming sector can look forward to a better year in 2020, a leading Norwegian investment analyst has predicted. And Tore Tønseth, at Spare Bank 1 Markets, is also urging everyone to buy shares in salmon companies. In an interview with the Oslo business newspaper and website Finansavisen, he said the last few months…

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Norway Royal Salmon reports mixed Q3 results

SUBSTANTIALLY higher harvests helped Norway Royal Salmon lift its overall operating profit, or EBIT, during the third quarter of this year. Post tax profits, however, were well down. The company today reported an operational EBIT of 131 million kroner for the July to September period, compared with NOK 34 million a year ago, when the…

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Iceland\’s largest aquaculture centre opens

A HUGE new aquaculture breeding and hatchery centre has opened for business in the west of Iceland, on a remote fjord more than 250 miles from the capital Reykjavik. The £25 million (ISK 4 billion) Arctic Fish owned facility covers 10,000 square metres near the small fishing harbour of Tálknafjörður, where the company is currently…

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Iceland\’s largest aquaculture centre opens

A HUGE new aquaculture breeding and hatchery centre has opened for business in the west of Iceland, on a remote fjord more than 250 miles from the capital Reykjavik. The £25 million (ISK 4 billion) Arctic Fish owned facility covers 10,000 square metres near the small fishing harbour of Tálknafjörður, where the company is currently…

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Salmon prices will bounce back says analyst

SALMON prices, which have fallen sharply in recent weeks, will bounce back, a leading industry observer has predicted. In some instances, prices have dropped to NOK 40 per kilo, production cost levels, and below. Seafood analyst Christian Olsen Nordby, of the international financial services and research company Kepler Cheuvreux, said the lower prices had led…

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