Nova Sea buys into Torghatten Aqua

The large Norwegian salmon business Nova Sea has entered into a long term collaboration with another salmon company, Torghatten Aqua, with the aim of strengthening both companies. They say that the plan will contribute to continued sustainable growth and development in the Helgeland region. Torghatten Aqua AS, formerly known as Torgnes AS, is an investment…

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Norcod revenues shoot up, but profits still some way off

Norcod, Norway’s largest cod farming company, produced a strong operational performance during the final quarter of 2023 with a 61% increase in revenues. The results for the whole of last year were also impressive, with earnings up by 58% to NOK 269m (£20m). The company earned NOK 83m (£6.2m) during the final quarter of 2023…

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Solid Q4 performance from SalMar

SalMar, the world’s second largest Atlantic salmon farmer, produced “very solid results” during the final quarter of last year, figures published today show. The company plans to pay NOK 4.6bn (around £345m) in dividends for the whole year. SalMar announced a Q4 group operational EBIT or operational profit of NOK 2.16bn (£162m), up nearly 115%…

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Gigante cuts production after fish losses

Norwegian land-based fish farming company Gigante Salmon has announced that it is reducing its production by around 300,000 fish — almost half of the stock released into its tanks last month. This is the second batch for the company at its newly completed site at Rødøy in northern Norway. Gigante revealed at the end of…

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Mowi CEO hails record revenues for end of 2023

Mowi achieved all-time high revenues of €1.43bn (£1.28 bn) in the fourth quarter of 2023 – against €1.36bn (£1.16bn) in the corresponding quarter of 2022.  The Q4 report said the period concluded another record-breaking year for Mowi. Mowi shareholders will receive a total dividend payout of NOK 983m (around £73.4m) – or NOK 1.90 per share. Revenues…

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New jellyfish attacks leave scientists baffled

Jellyfish attacks were responsible for the deaths of at least three million salmon and trout last year, says the Norwegian Institute of Marine Research, and tackling the problem is perplexing marine scientists. It has already been reported that 62 million fish died from various causes in Norwegian fish farms in 2023 – six million more…

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Norway to launch new aquaculture environmental regime

Norway is changing the pollution rules around aquaculture, the government has announced, with a move away from individual discharge permits towards more standard regulations and conditions. The government believes the change will make the rules more equal for companies. New minimum requirements for environmental documentation are also being introduced for new site applications. Fisheries and Oceans…

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Storms push up salmon prices

Last week’s storms – the worst in Norway for many years – appear to have sharply pushed up salmon prices. The news was hardly surprising, with Storm Ingunn shutting down salmon farms in the north of Norway for several days. With roads closed and rail and sea transport at a standstill it was almost impossible to…

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Storms leave a trail of fish escapes

Hundreds of salmon are thought to have escaped following Storm Ingunn which savaged the Norwegian coastline last week. Storm Ingunn, which saw northern Norway battered by hurricane-level winds, was one of the worst incidents of its kind for many years. It forced the salmon industry to batten down the hatches for several days. But the…

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