The new deep water fishing vessel incorporated by Sealord to its fleet. (Photo: Simek)

Sealord invests over USD 50 million in new factory vessel purchase

The most important New Zealand deep sea fishing company Sealord is to make a NZD 70 million (USD 50.6 million) investment in its fishing fleet with the purchase of a new state-of-the-art vessel offering high operational efficiency, which will also make it possible to create 80 new local jobs.

Chief Executive Officer Steve Yung pointed out Sealord’s shareholders, Maori-owned Moana New Zealand (Aotearoa Fisheries Limited) and Japanese company Nippon Suisan Kaisha Ltd (Nissui), have committed to the 82.9 metre vessel purchase, which they will part-fund.

“This will be the first new vessel for the country’s deepwater fishery in 20 years, since the introduction of Sealord’s FV Rehua, and the backing of our shareholders is clear demonstration of their long-term commitment to the business and support of our commercial and operational strategies,” Yung stressed.

For his part, Whaimutu Dewes, Sealord Chairman commented that with Sealord’s vision to be the best deep sea fishing company in New Zealand, this investment in the reliability, efficiency and increased capacity to the fleet is essential.

“This is a significant investment and one that demonstrates shareholders commitment to Sealord, and it being the best deep sea fishing company in New Zealand,” Dewes stressed.

Yung explained that the purpose-built vessel will provide the company’s fishing capability with 20,000 metric tonnes capacity, and will be the business’ most advanced, efficient, versatile and sustainable vessel yet.

“It will be able to fish all Sealord’s target species, including pelagic fish such as barracouta, squid and jack mackerel – something we’ve previously only been able to do through chartering vessels,” he said.

The vessel will process its catch while at sea, with facilities to produce all Sealord’s base products immediately for maximum freshness and productivity.

In keeping with the company’s ongoing commitments to sustainability and technology development, the vessel will also be equipped with new Precision Seafood Harvesting and other fishing technologies to ensure the most sustainable outcomes.

The vessel has been designed by Naval architect Skipsteknisk, with the contract for building and furnishing the vessel awarded to Simek in Flekkefjord, Norway, with delivery anticipated in mid-2018.

Investment marks the first new vessel purchase by Sealord since 1996, making it the first to enter NZ’s deepwater fisheries in the last 20 years.

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