IN BRIEF - Barramundi Group Ltd: Grant of Moratorium Period
SINGAPORE
Friday, November 08, 2024
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.
Under Heat and Acid Treatment: Rheological and Calorimetric Analysis
Jumbo squid mantle muscle gels were prepared by using the one-step (90 °C/30 min) and the two-step (30 °C/1 h + 90 °C/30 min) heat treatments (HTs) with and without the addition of d-isoascorbic acid (IAA). Reactive sulfhydryl (-RSH) content, SDS-PAGE protein profiles, gel-forming ability in terms of their texture profile analysis (TPA), folding test (FT), and water holding capacity (WHC) were evaluated on experimental gels.
Additionally, the rheological and calorimetric behaviors of previously prepared sols were monitored. The –RSH content of gels showed no statistical differences (p = 0.05) due to the effect of HT; however, their content was reduced by 18.4% by the addition of IAA.
The TPA showed changes only in cohesiveness (p < 0.05). The FT evaluation indicated that all gels were A–B grade. The WHC of gels increased with the two steps of HT but decreased with the addition of IAA. The rheology and calorimetry of sols remained without major variations.
The Falkland Islands Fisheries Commission this week reviewed a detailed report by three senior members of the Fisheries Department titled “Analysis of the 2024 Loligo Squid Harvest.” The findings confirmed the prudence and justification of not opening the season.
The report was authored by Chief Cephalopod Scientist Irina Chemshirova, Oceanographic Data Analyst Alex Blake, and Senior Scientist and Stock Assessor Frane Skeljo. Their analysis was reinforced by a biomass estimate obtained after a second survey, which corroborated the decision to refrain from harvesting.
One key conclusion of the report highlighted that “the biological data collected during the surveys indicated no major net migration during the course of the season.” However, the report acknowledged challenges in fully confirming low migration patterns due to the significant time gap between the August and September surveys.
Blake further explained that“the unfavorable ocean conditions described during 2024 most certainly facilitated a northern transport of Loligo, out of the Falklands EEZ and toward the high seas during the period of the second harvest.”
Adding to the context, the significant investments made by Falkland fishing companies and their Galician partners in new vessels underscore the high stakes for the 2025 squid harvest. Understandably, this has led to some apprehension about how the upcoming season will unfold.
Chasing and Pufab Aqua Tech AS have announced the launch of the Chasing X, a versatile mid-range ROV (Remotely Operated Vehicle) designed specifically for the aquaculture industry.
In a press release, the company highlighted several innovative features and capabilities of the Chasing X, including:
8 Magnetically Coupled Motors: These ensure extended durability and reduced maintenance requirements, even under challenging conditions.
"Anchor X" Digital DP System: Provides precise positioning, maintaining stability even in strong currents.
High-Intensity Lighting: Equipped with dual 6,000-lumen LED lights for superior underwater visibility.
Full 360° Compensation: Effectively counteracts currents and ripples for seamless operation.
Deep Diving Capability: Operates at depths of up to 350 meters.
One of the standout features is the unit’s open electronic platform, which allows third-party developers to access and integrate additional functions.
Customization and Accessories
The Chasing X offers a range of optional accessories to enhance its utility, including:
A 230V power supply for continuous operation.
A grabber for handling objects underwater.
An echo sounder for advanced aquatic monitoring.
An additional pan/tilt camera with software enabling simultaneous dual recordings on the control unit.
Pufab Aqua Tech AS, based in Molde, is the exclusive distributor of Chasing ROVs for the aquaculture sector.
The partnership aims to conduct contract research on the efficacy of “AQUALAABH,” a natural mineral mix, and its variants in shrimp farming. The research will be carried out at ICAR-CIBA’s Navsari Gujarat Research Centre (NGRC), Navsari, Gujarat.
Agrocel Industries, a leader in India’s bromine-based marine chemical industry, specializes in minerals, specialty chemicals, and plant and animal nutrition. Its product “AQUALAABH,” derived from seawater minerals, is designed to enhance shrimp farming productivity and sustainability.
India, the world’s second-largest aquaculture producer and a top shrimp exporter, relies heavily on this sector for sustainable livelihoods, supporting over 30 million people, particularly from marginalized communities. Recognizing its critical role, ICAR-CIBA Director Dr. Kuldeep K Lal emphasized the importance of collaborations between private enterprises and research institutions to drive innovation and validate solutions
The collaboration represents a significant step toward enhancing India’s position as a global leader in aquaculture while ensuring sustainable development for the shrimp farming sector.
Quality Poultry & Seafood sales manager Todd Rosetti was the only defendant sentenced to prison for his role in a conspiracy to mislabel seafood, passing off foreign fish as fresh Gulf catches.
U.S. District Judge Sul Ozerden on Wednesday sentenced Rosetti to eight months in prison, followed by 180 days under house arrest. Ozerden noted that he was constrained by an earlier agreement Rosetti reached with prosecutors that allowed him to plead guilty to a misdemeanor charge of mislabeling seafood rather than a felony conspiracy mislabeling charge. Guidelines allowed a maximum sentence of one year and a fine of up to $1,000.
James “Jim” Gunkel, left, business manager of Quality Poultry & Seafood, walks out of the federal courthouse in Gulfport with his attorneys on Wednesday =>
“He was the ultimate authority in this scheme,” Ozerden noted. “He was the driving force.” Ozerden also pointed out that the scheme started by Quality defrauded up to 300 customers at their retail and wholesale business on Division Street in Biloxi. The judge said the scheme started as early as 1999. Charges documented seafood mislabeling began no later than December 2013 and ran until November 2019.
Mary Mahoney’s Old French House restaurant, a nationally known establishment in Biloxi, was in on the conspiracy but many other restaurants, casinos and retail customers were unaware they were paying premium prices for fish from India, Africa and other counties.
Vigo – The Vigo Port Fishing Shipowners' Cooperative (ARVI) proudly celebrated its 60th anniversary. Since its foundation in 1964, ARVI has been a fundamental pillar in the development and sustainability of the fishing sector in our city.
Throughout these six decades, we have worked tirelessly to promote responsible, innovative and sustainable fishing practices, always with the aim of guaranteeing the well-being of our communities and the preservation of our marine resources.
Javier Touza, president of ARVI
The event, presented by president Javier Touza, was attended by a number of distinguished authorities. Among them were the Mayor of Vigo, the Conselleiro do Mar, the State Delegate in the Zona Franca de Vigo, the president of the Port Authority of Vigo, the vice-president of the Provincial Council of Pontevedra, as well as the presidents of the Confederation of Entrepreneurs of Pontevedra (CEP) and of the Chamber of Commerce and the General Director of Sustainable Fishing of the SGP. In addition, the partners and the entire team attended, whose effort and dedication are fundamental to the success of the Cooperative.
This anniversary not only celebrates our history and achievements, but also reinforces our commitment to the community and the sustainable development of the fishing industry.
Times of change at Alimentaria Exhibitions, which has renewed its management positions: Anna Canal is the new director of the Alimentaria fair, while Celine Pérez takes over the management of Hostelco, combining this position with the management of Barcelona Wine Week, the fair for quality Spanish wines. J. Antonio Valls, director of Alimentaria for almost three decades, remains as general director ofAlimentaria Exhibitions, the company that organises Alimentaria & Hostelco, the Barcelona Wine Week, Gastronomic Forum Barcelona and Alimentaria FoodTech fairs.
Likewise, the Organising Committee of Alimentaria, chaired by Antoni Llorens, also president and general manager of Serunion, has recently incorporated Judith Viader, CEO of Frit Ravich.
In 30 years, the UK fishing fleet has reduced its capacity by 54%, according to data from the “Sea Fisheries Statistics 2023” report published by the British Government’s MMO (Marine Management Organisation). Thus, in 2023, there were 5,418 fishing vessels registered in the UK, which represents a 54% reduction since 1993. The power (kW) of the UK fleet has also decreased by 42% over the past three decades. Gross tonnage (GT) has decreased by 37% since 1996, when this metric began to be recorded, reaching 200,000 tonnes. The report also shows that approximately 79% of the UK fleet is made up of vessels under 10 metres in length, of which 49% are registered in England.
Source: Industrias Pesqueras l Read the full article here
A new toolkit that’s been specially designed to help seafood producers measure their carbon footprints has just been released by Blueyou, who are now inviting more aquaculture and fishery operators to use it for free.
Developed by Blueyou Impact, the scientific team of the Blueyou Group, and peer-reviewed by life cycle assessment (LCA) experts in Europe and Canada, the toolkit contains data questionnaires which can be filled in by seafood producers, accompanied by a guideline to explain how the gathered data can be used
Author: Rob Fletcher / The Fish Site l Read the full article here
Seafood supply chain collective Follow the Fish has called on the European Commission to require more consumer information on all seafood. To address this lack of transparency, the group met with the head of the Directorate General of the European Commission in charge of maritime affairs and fisheries, Charlina Vitcheva, to demand that the EU revises the Common Market Organisation (CMO) Regulation.
This law sets consumer information requirements for seafood products. While required information for fresh and frozen seafood is comprehensive, processed products currently lack mandatory consumer information on key aspects.
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