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IN BRIEF - Blue Harvest files for Ch. 7 bankruptcy, company likely to liquidate assets

UNITED STATES
Wednesday, September 13, 2023

Chapter 7 bankruptcy is a closure and liquidation of all the company’s assets in order to pay back debts. If the assets don’t cover the debts, the company can essentially walk out on the tab.

NEW BEDFORD — Blue Harvest Fisheries has filed for Chapter 7 bankruptcy, according to records in U.S. federal court in Delaware, concluding an eight-year private equity roll-up of New Bedford’s fishing industry.

It is a move that some had expected following the company’s quiet decision to shut down all fishing operations on Sept. 1. The company has still not made a public announcement, leaving industry regulators, fishermen and city officials in the dark as the largest groundfish company on the East Coast abruptly grinds to a halt.

The company filed nine separate bankruptcy cases that included 40 individual LLCs. According to the Sept. 8 filings, the company’s assets range from $50 million to $100 million and its liabilities are estimated between $100 million and $500 million. Chapter 7 bankruptcies usually lead to liquidation.[...]

Author/Source:  Will Sennott/newbedfordlight.org


IN BRIEF - Opmega Conference: Mussel cultivation in Batea

SPAIN
Thursday, May 16, 2024

We attach the program for the conference organized by Opmega that will take place today, Thursday, May 16, at the Mexillón Building in Galicia. The event will feature interventions by the mayor of Vilargarcía (10:00 a.m.) and the Sea Councilor (1:15 p.m.).
 
  
 
OPMEGA is an OP with a national scope of action recognized by Order of the Ministry of Agriculture, Fisheries and Food, dated December 30, 1986 (Official State Gazette No. 23, dated 01/27/1987) as the OPP-18.
 
Since its foundation, OPMEGA brings together producers from all the Galician estuaries, where they join forces and work to improve and defend the interests of their producers and their Galician mussels.

IN BRIEF - Hokkaido scallops landed in 2023, production has decreased to 400,000 tons for 4th consecutive year

JAPAN
Thursday, May 16, 2024

According to a summary by the Hokkaido Fisheries Federation, the number of scallops landed in Hokkaido in fiscal 2023 (April 2023 to March 2024) was approximately 406,700 tons, down 3% from the previous year.

Trends in scallop landings in Hokkaido (from April to March)

Although it was lower than the previous year for the second consecutive year, it maintained the high level of 400,000 tons that has continued since fiscal 2020. The average unit price fell 20% to 211 yen per kilogram, falling below the previous year's level for the first time in three years, due to a reaction to the previous year's rise in product prices and the impact of the release of ALPS-treated water into the ocean.

Looking at the quantity by region, in the main Okhotsk region, Kitami in the south has increased by 5% to 204,900 tons, the highest in recent years, while Wakkanai in the north has decreased by 11% to 119,500 tons, for a total of 2. % decrease to 324,400 tons, which was below the level of the previous year.

In the Funkawan area, although Muroran decreased, Hakodate increased, and the total decreased by 1% to 61,000 tons, about the same as the previous year.[continues...]

Source: The Suisan Keizai Daily News (translated from original in Japanese)


IN BRIEF - China overtakes Korea in global shipbuilding competitiveness

CHINA
Thursday, May 16, 2024

China overtook Korea in overall competitiveness in the shipbuilding industry in 2023, according to the report titled “Comprehensive Competitiveness of the Shipbuilding Value Chain and New Directions for Korea’s Maritime Strategy” released by the Korea Institute for Industrial Economics and Trade (KIET) on May 13. This marked the first time that China has beaten Korea in the shipbuilding sector since 2020 when the institute began to release related reports, according to BusinessKorea.

According to the report, China’s overall competitiveness stood at 90.6 in 2023, 1.7 points ahead of Korea’s 88.9, amid the world’s growing shipbuilding dependence on China and China’s, Japan’s, and Korea’s growing shares of the world’s shipbuilding market. Korea had an advantage over China in research and development (R&D), design, and procurement, but its gap with China narrowed and it lost ground to China in production. Korea was also overtaken by China in the aftermarket (AM) for ship maintenance and repairs and in the service and demand sectors, the institute analyzed.

Among single shipyards, Samsung Heavy Industries, HD Hyundai Heavy Industries, Hanwha Ocean, and HD Hyundai Samho Heavy Industries ranked first through fourth in terms of order backlogs in March. However, when looking at shipbuilding groups, CSSC, the largest state-owned shipbuilding group of China, topped the list by a wide margin. Other Chinese state-run enterprises such as COSCO and China Merchant were also in the top 10 club.

 

Other Media | EuropaAzul: The Port of Vigo presents its decarbonization plan in Brussels

SPAIN
Thursday, May 16, 2024

A delegation from the Port of Vigo, led by its president, Carlos Botana, traveled to Brussels this week to present a road plan on potential energy sources and the necessary prototypes to the EU Energy Transition Association (DG Mare). to facilitate the energy transition of the different maritime fleets.

This strategy for the decarbonization of the fleet tries to respond to the objective set by the European Commission within the framework of the European Green Deal, which seeks to promote the transition towards a sustainable and carbon-free economy.

Source: EuropaAzul l Read the full article here


Other Media | Alimarket: Pescapuerta marks a path of growth and advances its new aquaculture project

SPAIN
Thursday, May 16, 2024

Pescapuerta began its adventure almost 70 years ago and it is said that "experience is a degree." So much so that, given the news that has been emerging in the sector in recent months, the Galician group maintains a very clear strategy, in which organic and prudent growth prevails over large operations and investments.

In this context, we give the keys and figures of its last year, in which, in addition, it has started a new line of business with its entry into the cultivation of vannamei shrimp.

Source: Alimarket l Read the full article here


Other Media | Worldfishing: Namibia Ocean Cluster launches

NAMIBIA
Thursday, May 16, 2024

A new non-profit has been launched to promote sustainable and economically viable fishing in Namibia.

Launched on 26 April 2024, the Namibia Ocean Cluster brings together nine founders dedicated to promoting innovation, identifying markets for by-products and enhancing the socio-economic benefits of the country’s fisheries.

Supported by the World Economic Forum’s Ocean Action Agenda, the cluster is made up of Marine Stewardship Council-certified hake fishing companies Embwinda, Hangana, Merlus, Novanam, Pereira and Seawork, together with three non-fishing associate members, the Fisheries Observers Agency, Namibia Nature Foundation, and Sam Nujoma Campus - University of Namibia.

Source: Worldfishing  l  Read the full article here


Other Media | SalmonBusiness: Land-based producer launches Nordic PureAtlantic brand in China

CHINA
Thursday, May 16, 2024

The China-baseed company is scaling up its production capabilities, with construction of the second stage at the Gaotang facility underway, adding 4,000 tons capacity, and preparations for the third stage are in progress.

Land-based salmon farmer Nordic Aqua has achieved significant milestones in the first quarter of 2024, marking a successful transition from the project phase to full operational status.

The company produced 967 tons of biomass during the quarter, bringing the total biomass to 2,046 tons by the end of the quarter.

Source: SalmonBusiness  l  Read the full article here


Other Media | SeafoodSource: Thai Union initiates share buyback, accused of greenwashing in Shark Guardian report

THAILAND
Thursday, May 16, 2024

Thai Union is nearly halfway through a share-repurchasing program it initiated in January 2024 that has seen it spend nearly THB 1.3 billion (USD 35.7 million, EUR 32.9 million).

The Samut Sakhon, Thailand-based seafood giant, which owns the Chicken of the Sea and John West canned tuna brands, announced its third share-buyback program on 16 January 2024, saying it would reward shareholders by returning excess capital to them and boost the company’s earnings per share.

Author: Cliff White / SeafoodSource  l  Read the full article here


IN BRIEF - Tanzanian MPs call for a reduction in royalties, levies on fisheries products

TANZANIA
Wednesday, May 15, 2024

Members of Parliament in Tanzania have urged the government to reduce the royalties and levies imposed on fisheries products to boost the industry.

The parliamentary standing committee on industry, trade, agriculture and livestock said that these royalties and levies hinder efforts to improve the welfare of fishermen and their families.

Deodatus Mwanyika, the committee chairperson, presented the lawmakers’ views in parliament in response to the 2024/2025 financial year budget proposals tabled by Minister for Livestock and Fisheries Abdallah Ulega.

The parliament members emphasized the need for the government to continue removing unnecessary royalties and levies on fisheries products to enable the sector to improve people’s welfare and contribute more effectively to economic growth.

In his response, Ulega said that the government is implementing measures to protect various marine species and promote sustainable fisheries. He told the House that the sector has created employment for six million Tanzanians, including providing direct employment for 198,475 fishermen.

By Xinhua


IN BRIEF - Myanmar’s fishery exports hit US$55M in one month

MYANMAR
Wednesday, May 15, 2024

Myanmar’s fishery exports moved up to over US$54.98 million as of 3 May in the current financial year 2024-2025, beginning 1 April, the Ministry of Commerce’s statistics showed.

The figures reflected an increase of $25.5 million compared to $29.46 million recorded in the corresponding period of FY 2023-2024.

At present, fishery exports are regularly occurring, yet the volume of fishery exports is still lower than that recorded in the pre-pandemic period.

Myanmar sends fisheries such as fish, crab, and shrimp to neighboring countries (China and Thailand) through Muse, Myawady, Kawthoung, Myeik, Sittway, and Maungtaw border posts. They are shipped to Japan, European countries, China, Thailand, and other regional countries via maritime channels.

More than 20 fish species, including hilsa, rohu, catfish, and seabass are delivered to foreign markets, according to the Myanmar Fisheries Federation.

Myanmar delivers fisheries to over 40 countries, and the leading importer of Myanmar’s fisheries is Thailand, followed by China. — 

by NN/EM/  Global New Light of Myanmar


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