(EFE) – The sinking of a 129-ton fishing vessel off the coast of Jeju Island, South Korea, on Friday has resulted in the tragic loss of two crew members, with ongoing efforts to locate 12 others, as reported by local media.

The vessel, which carried 27 crew members, included 16 South Korean nationals and 11 foreign crew members. Following the incident, 15 individuals were rescued and transported to nearby hospitals. Two South Korean crew members were found unconscious during the rescue and were later declared dead.

The distress call signaling the vessel's emergency was received by local authorities at 4:33 a.m. on Friday (19:33 GMT on Thursday), alerting them that the Geumseong fishing boat was sinking approximately 24 kilometers from Biyang Island in Jeju Province.

At the time, the crew was reportedly transferring their catch to another vessel when their fishing boat began to submerge. According to the Coast Guard, the vessel is now fully submerged in South Korean waters.

In response, South Korean President Yoon Suk-yeol has directed the Coast Guard, Ministry of Defense, and Ministry of Oceans and Fisheries to mobilize all necessary resources and personnel to intensify the search and rescue efforts for the 12 remaining missing crew members.

Barramundi Group Ltd. (“the Company”) (EURONEXT: BARRA) – Reference is made to the stock exchange notice dated 11 October?2024 regarding the Company’s application for a Moratorium Order. 

The High Court of the Republic of Singapore (“the Court”) has today, under section 64 of the Insolvency, Restructuring and Dissolution Act 2018 (“IRDA”), granted the Company a moratorium period of 4 months commencing from the date of application. Any extension shall be applied for and granted at the discretion of the Court.

The Company will take this time to carry on negotiations for restructuring funding, as well as a compromise of its debts with creditors. Existing shareholders may reach out for more information regarding these plans.

Further updates will be provided as the restructuring process progresses.

"Mechanic Shcherbakov" is being built for the Russian Fishery Company under the investment quota program. This is the sixth vessel of the project, named in honor of the honored veteran of the industry, participant of the Great Patriotic War, senior mechanic Ilya Shcherbakov (1930 - 2020).

The large freezer fishing trawler of the ST-192 project is one of the most modern fishing vessels in the world. In terms of its technical and technical-operational characteristics, it surpasses all previously built vessels of its class. In total, the fishing fleet of the Russian Fishery Company will include 11 such supertrawlers.

"The new generation of vessels ensure maximum safety, compliance with global environmental standards and improved working and rest conditions for crews. It is gratifying that such large-scale projects are being implemented in Russia, at the USC enterprise - Admiralty Shipyards. This is the oldest shipbuilding enterprise in our country. It is here that the traditions of domestic shipbuilding are being strengthened and modern competencies are being developed. Behind all this are the people working at the enterprise, who design and build the new Russian fleet," noted the head of the Federal Agency for Fisheries Ilya Shestakov.

The vessel is designed to catch and process 60 thousand tons of fish annually. On board there is equipment for the production of all types of products from pollock and herring, including a new product - surimi. 

Source:  Federal Agency for Fisheries

Global fish farmer Cooke Inc. has signed a deal to buy one of the world’s largest fishmeal and fish oil producers and exporters, Corporación Pesquera Inca S.A.C. (Copeinca).

Copeinca was established in 1994 and has grown to become Peru’s largest fishing company with 2,770 employees, 45 vessels and eight processing plants that span the north and centre coastline of Peru. The company holds the largest anchoveta (Enaraulis ringens) quota in Peru at 15.9% and processes approximately 21% of the country’s total catch for annual production of approximately 200,000 tonnes of fishmeal and 23,000 tonnes of fish oil.

Source: fishfarmingexpert l Read the full article here

NOAA Fisheries has pledged funds totalling US$95 million as part of President Biden’s Investing in America agenda.

These grants will support initiatives aimed at removing barriers to fish migration, protecting vital habitats and strengthening local economies that depend on healthy fish populations.

Every year, millions of fish face obstacles such as dams and culverts which block their migration to spawning and rearing habitats. Fish passage projects help restore these critical migration routes and ensure the health of fish populations.

Source: Worldfishing l Read the full article here

Fisheries lost MSC certification several years ago as quotas exceed scientifically advised limits.

The impacts of climate change on the ocean are compounding the challenge of managing iconic stocks of mackerel and Atlanto-Scandian herring in the North-East Atlantic, risking long-term sustainability

But for several years, the governments of Norway, Iceland, the Faroe Islands, Greenland, the EU, UK and Russia have each set individual quotas for catching North-East Atlantic pelagic fish – mackerel, Atlanto-Scandian herring and blue whiting – that collectively exceed the scientific advice on catch limits. 

Source: FIsh Focus l Read the full article here

Norway made a debut at this year's China International Import Expo (CIIE) by establishing a national pavilion for the first time, with a focus on enhancing fishery cooperation with China and tapping into the vast potential of the Chinese market.

The pavilion features a wide range of industries, including maritime and energy, health and nutrition, design and lifestyle, food and agriculture, as well as seafood and consumer goods.

At the opening ceremony on Wednesday, Norway's Minister of Fisheries and Ocean Policy, Marianne Sivertsen Næss, made Chinese dumplings with different types of Norwegian seafood - salmon, mackerel and cold-water prawns - together with a Chinese food internet influencer.

Næss said that the CIIE provides a wonderful opportunity for Norwegian businesses to collaborate with Chinese companies.

With the seafood industry being one of the most important export pillars for the country, Norway aims to contribute to supplying healthy and sustainable seafood to the Chinese market, Næss said.