IN BRIEF - FSS issues advisories to fisheries cooperatives federation for U$D 37.5 million investment loss
SOUTH KOREA
Sunday, September 24, 2023
The Financial Supervisory Service, South Korea's primary financial regulatory body, has issued management advisories to the National Federation of Fisheries Cooperatives (NFFC) after losing approximately 50.1 billion won (U$D 37.5 million) it poured into an alternative high-yield overseas investment, as revealed by industry sources on Sunday.
The NFFC is the umbrella organization for regional fishers' cooperatives throughout the country. It advocates for fishers and provides financial and insurance services through its member cooperatives. It also runs distribution plants, wholesale markets and other programs, as well as provides support programs for fishers.
The NFFC reportedly lost the entire principal amount of its investment without taking any further action, raising concerns over the federation's investment and risk assessment practices.
Upon evaluation, the FSS issued to the NFFC advisories concerning nine matters requiring caution and five matters needing improvement to bolster the federation’s due diligence procedures for foreign investments.
In 2018, the NFFC made an overseas investment valued at $40 million dollars. By 2021, due to borrower defaults, NFFC saw impairment losses of $21.3 million in 2020 and an additional $16.5 million in 2021.
Thus, the NFFC recorded the entire 50.1 billion won investment as a loss.[...]
Punta Arenas - One of the amazing species that lives in the Southern Ocean is the Antarctic cod, a large fish that can measure more than two meters in length and weigh more than one hundred kilograms. For the rest, it can live for more than thirty years and as it grows, it migrates towards deeper waters, reaching below 2,000 meters, interacting with the seabed.
It plays a key role as a “top predator”, since it controls the populations of other species that are located at lower levels of the Antarctic food web. It is for this reason that it is essential for scientific teams to know what it feeds on, how valuable its prey are for its nutritional contribution and whether its diet changes as it progresses in its development (from juvenile to adult).
The answers to these questions are contained in an article recently published by Chilean researchers in international collaboration with scientists from the Institute of Fisheries and Marine Ecology (IFME) of Ukraine in which they analyzed the diet of this species applying visual and genetic identification techniques of the prey, to then study the fatty acid composition of those samples. [....]
The Chief Envoy of the European Union (EU) to Cambodia yesterday announced a new round of financial support for Cambodia to help the Kingdom’s government reform its fisheries sector.
The announcement was made by EU Ambassador Igor Driesmans while paying a courtesy call to Dith Tina, Minister of Agriculture, Forestry, and Fisheries (MAFF).
According to the Ambassador, the EU will release around $7 million in grants to the Ministry of Economic and Finance (MEF) to support key areas of the fisheries reform, such as monitoring, control, and surveillance; flooded forest protection; conservation of marine fisheries; transfer of grants to community fisheries; research; and food safety.
Cambodia’s economy and food security are significantly influenced by the fishing industry. Fish consumption was 52.4 kg/capita in 2021, and the fishing sector contributed 7-8% of the country’s GDP.
Launched in 2019 as the most important programme ever for the European Union to support the fisheries sector in a partner country and in Cambodia, the CAPFISH Programme (EUR 112 million) was implemented by the Fisheries Administration attached to the MAFF, supporting all pillars of the current national strategy in fisheries until 2025.[....]
Source: Taing Rinith / Khmer Times (translated from the original in English)
Research on digitalization has begun in Yamaguchi Prefecture's puffer (Tetraodontiformes) longline fishery to make fishing site selection more efficient.
The system automatically captures the temperature of the ocean floor where puffer fish are most commonly found, and displays it on a smartphone chart overlaid with the catch record, which can be used as a basis for deciding where to set the next line. The aim is to reduce costs and shorten operation time by leveraging the experience of fishermen and further exploring the correlation between environmental data and catches.
The research is being carried out under the "Smart Fisheries Social Implementation Promotion Project'' commissioned by Yamaguchi Prefecture, and is led by Associate Professor Hirofumi Matsumoto of the Fisheries College of the Fisheries Research and Education Organization.
Even if surface water temperatures and current speeds of the ocean are available, water temperatures and currents differ at depths of 100 meters or deeper, where puffers live. It was not possible to determine in which temperate zone they were most abundant, and as a result, the selection of fishing grounds was largely based on the experience and intuition of fishermen.[....]
Kaohsiung (CNA) A majority of Taiwan's long-distance saury fishing vessels have switched to using light emitting diodes (LEDs) to conduct saury fishery in the Pacificfor environmental reasons, the Kaohsiung City Government's Marine Bureau said Tuesday.
The methods for which fishermen catch squid or saury are similar, hence many boats venture out to sea twice a year to catch these two types of fish, the bureau said.
Citing an example, it said boats travel to the Southwest Atlantic to fish for squid in the first half of the year, return and then venture out again to fish for saury in the North Pacific in the following months.
The fishing for saury happens at night, with artificial light playing an important role in attracting the fish to nets.
In the past, fishermen often used incandescent light bulbs or high-intensity discharge (HID) lamps to get their catch, but these types of lighting tend to consume a lot of energy, the bureau said.[...]
The Mauritanian Ministry of Fisheries announced the closure of sardinella fishing for shipowners operating in coastal and offshore segments due to alarming stock assessments.
A measure which may be lifted by the Mauritanian Institute of Oceanographic and Fisheries Research depending on the progress observed.
It is following evaluations by the Mauritanian Institute of Oceanographic and Fisheries Research (Imrop) having established abundance indices in continuous decline and reported an increase in sardinella mortality through fishing, that the Mauritanian Ministry of Fisheries has decided to close access to this resource.[...]
President Ken Ikemi "One step toward a virtuous cycle in 2024, top management speaks''
On the 4th, Maruha Nichiro President Ken Ikemi held a year-end press conference at the company's headquarters in Tokyo, where he spoke of the need for "resilient'' business operations in a rapidly changing environment.
"We will work on providing market-oriented products, ROIC (return on invested capital) management, and promoting innovation",Ikemi said. Responding to the decline in marine resources was a major issue.[....]
In response to the comprehensive joint advice submitted by the North Western Waters Advisory Council (NWWAC), North Sea Advisory Council (NSAC), and Market Advisory Council (MAC) on brown crab (Cancer pagurus), Charlina Vitcheva, the Director-General of DG MARE in the European Commission, expressed gratitude for the valuable insights provided.
The letter, dated 22 September 2023, highlighted various aspects of brown crab fisheries, covering research, threats to stock status, management, supply chain, and market issues.
Source: TheFishingDaily | Read the full articlehere
Eight years after the last review, the Government has updated in the Council of Ministers the regulation that sets the scales for the establishment of compensatory aid for the temporary cessation of the activity of the fishing fleet, with financing from the European Maritime Fisheries Fund and Aquaculture (FEMPA). With the new fund already active, the Government considers that “an update” was necessary, given the time that has passed and the changes experienced in the economic environment.
Source: Industrias Pesqueras | Read the full article here
Australian tech billionaire Anthony Hall has amassed a significant stake in troubled yellowtail kingfish producer Clean Seas Seafood.
Hall, co-founder of medical imaging business Pro Medicus, now owns just over 11.5% of Clean Seas’ equity.
Clean Seas sells its kingfish through two brands: Spencer Gulf Kingfish for professional cooks/foodservice, and South Australian Yellowtail for consumers to cook at home.
A senior researcher at China’s Ministry of Agriculture recently gave an upbeat assessment on the country’s seafood import market, signaling that although the nation remains a powerhouse in domestic seafood production, it will maintain its newfound status as a net importer for the foreseeable future.
“The potential for seafood imports will be fully unleashed soon,” Xie Zhongmin, the deputy head of research at the Agriculture Trade Promotion Center within the ministry, said. Xie said a “structural gap” in supply and demand, as well as lower tariffs, is driving China’s demand for imported seafood.
Author: Mark Godfrey / SeafoodSource | read the full article here
Increased Catch and Reduced Bottom Impact with New Trawl Gear Norway
A new trawl gear concept gave 20-40% more catch than standard rock hoppers. The gear is also designed to be gentler on the seabed, which can help the industry towards an even more efficient and enviro...
The Norwegian Pelagic Fishing Course in Week 48 Norway
Herring fishing in the north with good luck, and better collection of North Sea herring.
NVG herring:
As expected, there was a modest quantity with a total of 7,800 tonnes for the whole week. Apar...
Brazilian tilapia market Brazil
Super grains harvest and weather patterns influence the market
Amid a bumper harvest of grains this year, tilapia farmers and natives turn their attention to the delicate balance between su...
Copyright 1995 - 2023 Seafood Media Group Ltd.| All Rights Reserved. DISCLAIMER
SOUTH KOREA
CHILE.png)
CAMBODIA.png)
JAPAN
The system automatically captures the temperature of the ocean floor where puffer fish are most commonly found, and displays it on a smartphone chart overlaid with the catch record, which can be used as a basis for deciding where to set the next line. The aim is to reduce costs and shorten operation time by leveraging the experience of fishermen and further exploring the correlation between environmental data and catches.
TAIWAN
Kaohsiung (CNA) A majority of Taiwan's long-distance saury fishing vessels have switched to using light emitting diodes (LEDs) to conduct saury fishery in the Pacificfor environmental reasons, the Kaohsiung City Government's Marine Bureau said Tuesday.
MAURITANIA
The Mauritanian Ministry of Fisheries announced the closure of sardinella fishing for shipowners operating in coastal and offshore segments due to alarming stock assessments.
On the 4th, Maruha Nichiro President Ken Ikemi held a year-end press conference at the company's headquarters in Tokyo, where he spoke of the need for "resilient'' business operations in a rapidly changing environment. 
EUROPEAN UNION 15_05_22.png)
In response to the comprehensive joint advice submitted by the North Western Waters Advisory Council (NWWAC), North Sea Advisory Council (NSAC), and Market Advisory Council (MAC) on brown crab (Cancer pagurus), Charlina Vitcheva, the Director-General of DG MARE in the European Commission, expressed gratitude for the valuable insights provided. 14_56_53.png)
Eight years after the last review, the Government has updated in the Council of Ministers the regulation that sets the scales for the establishment of compensatory aid for the temporary cessation of the activity of the fishing fleet, with financing from the European Maritime Fisheries Fund and Aquaculture (FEMPA). With the new fund already active, the Government considers that “an update” was necessary, given the time that has passed and the changes experienced in the economic environment.
AUSTRALIA 14_49_09.png)
Australian tech billionaire Anthony Hall has amassed a significant stake in troubled yellowtail kingfish producer Clean Seas Seafood.
CHINA 14_36_53.png)
A senior researcher at China’s Ministry of Agriculture recently gave an upbeat assessment on the country’s seafood import market, signaling that although the nation remains a powerhouse in domestic seafood production, it will maintain its newfound status as a net importer for the foreseeable future.
