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.

In line with previously announced plans, Nordic Aqua (Ningbo) Co., Ltd, a fully owned subsidiary of Nordic Aqua Partners (“Nordic Aqua”) has entered into a Strategic Cooperation Agreement with Bank of China.

The agreement is for the for long-term financing of the development and construction of Nordic Aqua’s facility at Gaotang towards an annual harvesting capacity of 20.000 tonnes. Financing is subject to credit approval.

Nordic Aqua Partners is a Nordic land-based Atlantic salmon farming company, using cutting-edge Nordic technology and expertise to set up the first fully integrated and commercially scaled Recirculating Aquaculture System (RAS) farm for Atlantic salmon located in Ningbo, China. Nordic Aqua Partners is the first local producer of truly sustainable and Super-fresh Atlantic salmon to the Chinese market. The current business plan is for an annual production of 20,000 tonnes HOG. Nordic Aqua Partners AS is listed at Euronext Growth under the ticker NOAP.

MANILA —  The country could miss its target growth rate for the agriculture and fisheries output this year after a prolonged dry spell and devastating typhoons dragged down local production in the third quarter to its steepest decline in 15 months.

The Philippine Statistics Authority (PSA) said the value of farm and fisheries output (at constant 2018 prices) from July to September declined by 3.7 percent to P397.43 billion due to lower production of crops, livestock and fisheries.

It was the second straight quarter that agriculture and fisheries output declined. The recorded drop in value was also steeper than the 0.2-percent dip in the third quarter last year, according to the PSA.

Livestock output fell by 6.7 percent year-on-year while fisheries production contracted by 5.5 percent.

Source: The Philippine Star 

Wärtsilä Propulsion Factory Wuxi celebrated its 20th anniversary, commemorating two decades of innovation in marine propulsion.

Over 200 stakeholders, including Wuxi Government officials and Wärtsilä Marine senior leaders led by President Roger Holm, attended the event, which highlighted advancements in decarbonization, thruster technology, and controllable pitch propellers.

A key moment was the signing of a contract between Wärtsilä Propulsion Wuxi, Xiamen Port Shipping Co., and SMERI for the supply of eight steerable thrusters for four new electric tugs, strengthening industry partnerships. Holm emphasized the importance of innovation and collaboration for a sustainable maritime future. The anniversary also provided a forum for industry networking, reinforcing Wärtsilä’s commitment to advancing marine propulsion and sustainability.