Open main menu
Visit Website
Sign Up

Kingfish Company Nears Profitability Milestone

According to its most recent report, The Kingfish Company, operating a RAS facility in the Netherlands specializing in seriola production, has significantly decreased its per kilogram loss during the first quarter of 2024 compared to the corresponding period last year.

TradoublesTradoubles

•

•

Kingfish Company Nears Profitability Milestone
Do not index
Do not index
In its latest quarterly report, The Kingfish Company, a land-based farmer specializing in seriola production, showcased a remarkable 82% improvement in operational EBITDA per kilogram, reaching €-0.6 per kg compared to €-3.1 per kg in Q1 2023.
Vincent Erenst, the CEO, expressed optimism regarding the financial performance, noting an upsurge in sales volume and operational EBITDA nearing break-even.
With a focus on enhancing sales and operations, the company aims to expand its client base in Europe and North America while exploring new markets for its yellowtail kingfish. Additionally, efforts to bolster operational efficiency are underway.
Biological performance exceeded expectations, with a biomass growth of 642 tonnes in the quarter, slightly surpassing Q4 2023. Total biomass reached 1,043 tonnes.
As the company approaches maximum carrying capacity, growth management measures are in place. Improved feed formulations and juvenile quality, combined with lower temperatures, led to a reduced eFCR of 1.26, a significant improvement from 1.42 in Q4 2023.
Revenue saw a 5% increase to €5.9 million, driven primarily by higher sales to the retail sector. Despite intensified promotional activities, average revenue per kilogram declined slightly to €14.4.
Sales volumes in North America and select European markets experienced substantial growth, contributing to the company's positive performance. Notably, gross margin per kilogram surged by 90% to €4.6, reflecting significant progress towards profitability, as production and sales ramp-up to utilize Phase 2 capacity.
Tradoubles

Written by

Tradoubles

Tradoubles is a cross-border seafoods marketplace. We help you source the best seafood suppliers from asian countries.

    Related posts

    Saudi Arabia Targets Expansion of Seafood Production in 2024 to Satisfy Rising Domestic DemandSaudi Arabia Targets Expansion of Seafood Production in 2024 to Satisfy Rising Domestic Demand
    TradoublesTradoubles

    /

    Saudi Arabia Targets Expansion of Seafood Production in 2024 to Satisfy Rising Domestic Demand

    Saudi Arabia's Fisheries Department Pursues Ambitious Goal: Plans to Elevate Fish Output to 230,000 Metric Tons in 2024 to Address Significant Disparity Between Current Supply and Domestic Demand Through Increased Domestic Production.

    Research Indicates Fungal Protein Enhances Shrimp Growth and HealthResearch Indicates Fungal Protein Enhances Shrimp Growth and Health
    TradoublesTradoubles

    /

    Research Indicates Fungal Protein Enhances Shrimp Growth and Health

    Recent Study Reveals Shrimp Thrive on Enifer's PekiloAqua Mycoprotein Diet, Demonstrating Faster Growth and Improved Health Compared to Traditional Feeds.

    ASC Commemorates Triumph at Seafood ExpoASC Commemorates Triumph at Seafood Expo
    TradoublesTradoubles

    /

    ASC Commemorates Triumph at Seafood Expo

    Following the Resounding Success of the 2024 Seafood Expo Global, the Aquaculture Stewardship Council (ASC) Marks the Acclaimed Contribution of its Expert Panel, Centered on Advocating for Responsible Aquafeed Practices.

    Financing agreement aims to boost Mozambique artisanal fishery effortsFinancing agreement aims to boost Mozambique artisanal fishery efforts
    TradoublesTradoubles

    /

    Financing agreement aims to boost Mozambique artisanal fishery efforts

    Mozambique recently formalized a significant partnership with the International Fund for Agricultural Development (IFAD), sealing a financing agreement totaling USD 63 million (EUR 57.6 million). This collaborative effort aims to bolster the livelihoods of artisanal fishers along Mozambique's extensive East African coastline.

    Mascato Expands Product Range, Aims to Integrate Seafood into Daily Consumption HabitsMascato Expands Product Range, Aims to Integrate Seafood into Daily Consumption Habits
    TradoublesTradoubles

    /

    Mascato Expands Product Range, Aims to Integrate Seafood into Daily Consumption Habits

    Established in 1994, Mascato, headquartered in Vigo, Spain, has evolved from a modest family enterprise into a global leader specializing in various seafood products. With a workforce exceeding 1,500 individuals across multiple nations, Mascato stands as a multinational seafood specialist.

    AIPCE-CEP, EAPO, Europeche, and FEAP Join Forces to Establish European Strategic Seafood AllianceAIPCE-CEP, EAPO, Europeche, and FEAP Join Forces to Establish European Strategic Seafood Alliance
    TradoublesTradoubles

    /

    AIPCE-CEP, EAPO, Europeche, and FEAP Join Forces to Establish European Strategic Seafood Alliance

    Representing diverse sectors of Europe's seafood industry, four organizations have united to create the European Strategic Seafood Alliance.

    Trident Seafoods Divests Ketchikan Facility; Pickenpack's European Arm Returns to Russian Pollock ProcurementTrident Seafoods Divests Ketchikan Facility; Pickenpack's European Arm Returns to Russian Pollock Procurement
    TradoublesTradoubles

    /

    Trident Seafoods Divests Ketchikan Facility; Pickenpack's European Arm Returns to Russian Pollock Procurement

    In a recent development, Trident Seafoods' European subsidiary, Pickenpack, has announced its return to purchasing pollock sourced from Russia. Acquired by Trident Seafoods in 2016 following its bankruptcy in 2015, Pickenpack Vertriebs is based in Seattle, Washington, U.S.A., and is known as one of the leading global suppliers of Alaska pollock.

    Chinese Seafood Sector Stocks Poised for Growth with Nine-Point Guideline Equities Reform PlanChinese Seafood Sector Stocks Poised for Growth with Nine-Point Guideline Equities Reform Plan
    TradoublesTradoubles

    /

    Chinese Seafood Sector Stocks Poised for Growth with Nine-Point Guideline Equities Reform Plan

    Proposed Capital Market Reforms in China Hold Potential to Drive Surge in Seafood Company Stocks

    Veramaris Achieves Record-Breaking Year, Setting New Industry StandardsVeramaris Achieves Record-Breaking Year, Setting New Industry Standards
    TradoublesTradoubles

    /

    Veramaris Achieves Record-Breaking Year, Setting New Industry Standards

    Veramaris, a Leading Producer of Sustainable Omega-3 EPA and DHA for Aquafeeds, Boosts Production by 50% in 2023 with Minimal Environmental Impact

    Scottish Sea Farms Merges Four Farms into Expansive Offshore FacilityScottish Sea Farms Merges Four Farms into Expansive Offshore Facility
    TradoublesTradoubles

    /

    Scottish Sea Farms Merges Four Farms into Expansive Offshore Facility

    Scottish Sea Farms Secures Shetland Islands Council Approval to Merge Four Salmon Farms into Single Offshore Facility

    Thailand's Shrimp Sector: US Department of Labor Declares Forced Labor No Longer WidespreadThailand's Shrimp Sector: US Department of Labor Declares Forced Labor No Longer Widespread
    TradoublesTradoubles

    /

    Thailand's Shrimp Sector: US Department of Labor Declares Forced Labor No Longer Widespread

    In a news development, the U.S. Department of Labor (DOL) advocates for revising a 15-year-old assessment indicating widespread child labor in Thailand's shrimp industry.

    Red Lobster Shutters Nearly 50 Locations, Liquidates EquipmentRed Lobster Shutters Nearly 50 Locations, Liquidates Equipment
    TradoublesTradoubles

    /

    Red Lobster Shutters Nearly 50 Locations, Liquidates Equipment

    In a sudden move, Red Lobster, a restaurant chain headquartered in Orlando, Florida, USA, shuttered numerous locations across the United States on May 13th.

    Chinese Demand Slumps for European Oysters, Affects Bells IsleChinese Demand Slumps for European Oysters, Affects Bells Isle
    TradoublesTradoubles

    /

    Chinese Demand Slumps for European Oysters, Affects Bells Isle

    A prominent Irish oyster producer and exporter, known for its market presence in China, grapples with a decline in demand.

    Katahdin Salmon Gains Vital Permits for Maine RAS Facility; Set to Rebrand in Major DevelopmentKatahdin Salmon Gains Vital Permits for Maine RAS Facility; Set to Rebrand in Major Development
    TradoublesTradoubles

    /

    Katahdin Salmon Gains Vital Permits for Maine RAS Facility; Set to Rebrand in Major Development

    Key Permits Secured: Katahdin Salmon Moves Forward with Millinocket, Maine RAS Facility Construction

    Icelandic Salmon Grapples with Ongoing Biological Hurdles Through Q1 2024Icelandic Salmon Grapples with Ongoing Biological Hurdles Through Q1 2024
    TradoublesTradoubles

    /

    Icelandic Salmon Grapples with Ongoing Biological Hurdles Through Q1 2024

    Continued Biological Struggles for Icelandic Salmon Persist into 2024, with Q1 Harvest Below 3,000 Metric Tons

    Aquaculture Awards Shine Spotlight on Unheralded ChampionsAquaculture Awards Shine Spotlight on Unheralded Champions
    TradoublesTradoubles

    /

    Aquaculture Awards Shine Spotlight on Unheralded Champions

    This year, the Aquaculture Awards judges made a departure from tradition by recognizing individuals contributing to the essential support services behind the scenes.

    UK Launches Industry Consultation on Seafish Levy HikeUK Launches Industry Consultation on Seafish Levy Hike
    TradoublesTradoubles

    /

    UK Launches Industry Consultation on Seafish Levy Hike

    Seafish, a non-departmental public body headquartered in the UK, initiates a 12-week official consultation with the seafood sector regarding its plans for raising fees.

    AQUA Cultured Foods Makes Chicago Restaurant Debut with New Product LineAQUA Cultured Foods Makes Chicago Restaurant Debut with New Product Line
    TradoublesTradoubles

    /

    AQUA Cultured Foods Makes Chicago Restaurant Debut with New Product Line

    Revo Foods, a food company headquartered in Vienna, Austria, and known for its plant-based offerings, unveils an upgraded version of its Revo Salmon, now rebranded as SMOKEY SLICES.

    Denmark Allocates DKK 110 Million to Sustainable Seafood Companies; Seafish Launches Seafood Carbon Emissions Profiling ToolDenmark Allocates DKK 110 Million to Sustainable Seafood Companies; Seafish Launches Seafood Carbon Emissions Profiling Tool
    TradoublesTradoubles

    /

    Denmark Allocates DKK 110 Million to Sustainable Seafood Companies; Seafish Launches Seafood Carbon Emissions Profiling Tool

    The sustainable seafood movement continues to make strides with various sector updates on initiatives and certifications. In a recent development, the Danish government has allocated DKK 112.8 million (USD 16.4 million, EUR 15.1 million) to support projects aimed at advancing the nation's fishing and aquaculture industry.

    Great Northern Salmon Selects RAS Vendor, Secures $6 Million in GrantsGreat Northern Salmon Selects RAS Vendor, Secures $6 Million in Grants
    TradoublesTradoubles

    /

    Great Northern Salmon Selects RAS Vendor, Secures $6 Million in Grants

    Great Northern Salmon, formerly Katahdin Salmon and headquartered in Millinocket, Maine, U.S.A., has undergone a name change and secured $6 million (EUR 5.5 million) in funding for the construction of its recirculating aquaculture system (RAS) land-based farm.

    Bristol Seafood Introduces Exciting Soy Ginger Cedar Plank Salmon DishBristol Seafood Introduces Exciting Soy Ginger Cedar Plank Salmon Dish
    TradoublesTradoubles

    /

    Bristol Seafood Introduces Exciting Soy Ginger Cedar Plank Salmon Dish

    Bristol Seafood, Headquartered in Portland, Maine, USA, Unveils Latest Addition to Cedar-Plank Salmon Lineup with Soy Ginger Flavor

    Conference Targets Knowledge Exchange in Smolt ProductionConference Targets Knowledge Exchange in Smolt Production
    TradoublesTradoubles

    /

    Conference Targets Knowledge Exchange in Smolt Production

    The upcoming 'Smolt Production of the Future' conference is set to concentrate on the optimization of large, top-quality smolt production, while addressing key challenges encompassing fish health management and feeding protocols.

    Young Aquaculture Society's Inaugural Launch Achieves SuccessYoung Aquaculture Society's Inaugural Launch Achieves Success
    TradoublesTradoubles

    /

    Young Aquaculture Society's Inaugural Launch Achieves Success

    During the recent Aquaculture UK conference, Scottish Labour leader Anas Sarwar unveiled the inauguration of the Young Aquaculture Society, a networking organization catering to young professionals in the aquaculture industry.

    Wanda Fish Debuts Inaugural Cell-Cultivated Bluefin Tuna ProductWanda Fish Debuts Inaugural Cell-Cultivated Bluefin Tuna Product
    TradoublesTradoubles

    /

    Wanda Fish Debuts Inaugural Cell-Cultivated Bluefin Tuna Product

    Wanda Fish Reveals Debut of First Cultivated Bluefin Tuna Toro Sashimi

    Irvington Seafood Issues Recall of Crabmeat Due to Potential Listeria ContaminationIrvington Seafood Issues Recall of Crabmeat Due to Potential Listeria Contamination
    TradoublesTradoubles

    /

    Irvington Seafood Issues Recall of Crabmeat Due to Potential Listeria Contamination

    Irvington Seafood, based in Irvington, Alabama, is recalling its 1-pound packages of crabmeat due to potential contamination with Listeria monocytogenes.

    Shrimp Insights Report Reveals Stagnation in Indian Shrimp Industry Growth and Decline in Feed SectorShrimp Insights Report Reveals Stagnation in Indian Shrimp Industry Growth and Decline in Feed Sector
    TradoublesTradoubles

    /

    Shrimp Insights Report Reveals Stagnation in Indian Shrimp Industry Growth and Decline in Feed Sector

    Willem van der Pijl, Co-Founder of the Global Shrimp Forum and publisher of the Shrimp Insights blog, has released a comprehensive guide to the Indian shrimp industry.

    Filipino Officials Attend Fishery Talks in Chinese Border City Amid South China Sea StandoffFilipino Officials Attend Fishery Talks in Chinese Border City Amid South China Sea Standoff
    TradoublesTradoubles

    /

    Filipino Officials Attend Fishery Talks in Chinese Border City Amid South China Sea Standoff

    China has invited the Philippines to participate in a forum on sustainable fisheries in the South China Sea, despite escalating marine confrontations between Chinese and Filipino vessels in the region.

    Scotland Initiates Second Investigation into Salmon Farming PracticesScotland Initiates Second Investigation into Salmon Farming Practices
    TradoublesTradoubles

    /

    Scotland Initiates Second Investigation into Salmon Farming Practices

    Holyrood's Rural Affairs & Islands (RAI) Committee has initiated a subsequent inquiry. The focus of this inquiry is to assess the implementation status of recommendations presented to the Scottish Government in 2018, aimed at resolving economic, social, and environmental concerns linked with the salmon farming sector.

    Norwegian Salmon Prices Inch Up in Week 20 of 2024, Surging Nearly 11% in Last 12 WeeksNorwegian Salmon Prices Inch Up in Week 20 of 2024, Surging Nearly 11% in Last 12 Weeks
    TradoublesTradoubles

    /

    Norwegian Salmon Prices Inch Up in Week 20 of 2024, Surging Nearly 11% in Last 12 Weeks

    In the 20th week of 2024, Norwegian salmon saw a slight uptick in its average per-kilogram price, reaching NOK 129.28 (USD 12.07, EUR 11.16), marking a 0.15 percent rise from the previous week's NOK 129.09 (USD 12.06, EUR 11.14).

    Cousins Maine Lobster Announces Leadership Team RestructuringCousins Maine Lobster Announces Leadership Team Restructuring
    TradoublesTradoubles

    /

    Cousins Maine Lobster Announces Leadership Team Restructuring

    Cousins Maine Lobster's Leadership Evolution

    Jumbo Seafood Group experiences a 26% decline in sales in ChinaJumbo Seafood Group experiences a 26% decline in sales in China
    TradoublesTradoubles

    /

    Jumbo Seafood Group experiences a 26% decline in sales in China

    In the six months leading up to March 31, Jumbo Seafood Group witnessed a significant 26.2% decrease in revenue from its operations in mainland China. This decline followed the closure of its Jumbo Seafood outlet in Xi'an in November 2023.

    Japan Introduces Cutting-Edge Fish Breeding System to Elevate Quality of Farmed SpecieJapan Introduces Cutting-Edge Fish Breeding System to Elevate Quality of Farmed Specie
    TradoublesTradoubles

    /

    Japan Introduces Cutting-Edge Fish Breeding System to Elevate Quality of Farmed Specie

    A Japanese University Advances Genetic Enhancement of Farm-Raised Eastern Little Tuna, Enhancing Desired Traits

    US Government Reveals Top 10 Finalists in $1 Million Global Fishing Forecast Grand ChallengeUS Government Reveals Top 10 Finalists in $1 Million Global Fishing Forecast Grand Challenge
    TradoublesTradoubles

    /

    US Government Reveals Top 10 Finalists in $1 Million Global Fishing Forecast Grand Challenge

    The US National Geospatial-Intelligence Agency (NGA) and the National Security Innovation Network (NSIN) Unveil 10 Finalists for Global Fishing Forecast Grand Challenge

    Spain Pursuing Access to Chinese Seafood and Fishmeal MarketsSpain Pursuing Access to Chinese Seafood and Fishmeal Markets
    TradoublesTradoubles

    /

    Spain Pursuing Access to Chinese Seafood and Fishmeal Markets

    Spain's Minister of Agriculture and Fisheries, Luis Planas, has expressed intentions to boost Spanish food exports to China, with a focus on seafood.

    Norcod Reduces Q1 2024 Production Costs, Secures Extra NOK 75 Million CreditNorcod Reduces Q1 2024 Production Costs, Secures Extra NOK 75 Million Credit
    TradoublesTradoubles

    /

    Norcod Reduces Q1 2024 Production Costs, Secures Extra NOK 75 Million Credit

    Norwegian cod-farming firm Norcod announced a decline in production costs for Q1 2024 and successfully obtained an extra NOK 75 million (USD 7 million, EUR 6.5 million) in credit to support forthcoming expansions.

    Global Aquaculture Production Hits Record HighGlobal Aquaculture Production Hits Record High
    TradoublesTradoubles

    /

    Global Aquaculture Production Hits Record High

    Global aquaculture and fisheries production has reached an all-time high, with aquaculture surpassing fisheries productivity for the first time on record, according to a new report from the FAO.

    US states of Maine, Rhode Island fund efforts to market seafoodUS states of Maine, Rhode Island fund efforts to market seafood
    TradoublesTradoubles

    /

    US states of Maine, Rhode Island fund efforts to market seafood

    The governments of Maine and Rhode Island are offering grant funding to boost the promotion and marketing of their seafood, contributing to broader initiatives aimed at encouraging seafood consumption through dedicated marketing organizations.

    Sustainable Shrimp Partnership Joins Global Sustainable Seafood InitiativeSustainable Shrimp Partnership Joins Global Sustainable Seafood Initiative
    TradoublesTradoubles

    /

    Sustainable Shrimp Partnership Joins Global Sustainable Seafood Initiative

    The Sustainable Shrimp Partnership has become an affiliated partner of the Global Sustainable Seafood Initiative, marking a strategic move to promote enhanced practices within the shrimp industry.

    Maritech Secures Increased Revenue and Profit in FY2023 Through Core Segment GrowthMaritech Secures Increased Revenue and Profit in FY2023 Through Core Segment Growth
    TradoublesTradoubles

    /

    Maritech Secures Increased Revenue and Profit in FY2023 Through Core Segment Growth

    Maritech, a business software developer based in Molde, Norway, reported increased revenue, earnings, and profits in 2023, driven by growth across all core segments. Known for its seafood traceability and trading programs, including the Maritech Eye system for assessing and sorting salmon or whitefish, the company was acquired by CAI Software in February 2024.4o

    US Shrimp Imports in April 2024: Vietnam and Thailand Rise, Ecuador DeclinesUS Shrimp Imports in April 2024: Vietnam and Thailand Rise, Ecuador Declines
    TradoublesTradoubles

    /

    US Shrimp Imports in April 2024: Vietnam and Thailand Rise, Ecuador Declines

    In April 2024, the United States imported 50,672 metric tons (MT), equivalent to 111 million pounds, of shrimp. This figure represents a decrease from the 56,000 MT (123 million pounds) imported in April 2023 and the 63,269 MT (129 million pounds) received in March 2024.

    Louisiana Lawmakers Approve Ban on Foreign Seafood in School LunchesLouisiana Lawmakers Approve Ban on Foreign Seafood in School Lunches
    TradoublesTradoubles

    /

    Louisiana Lawmakers Approve Ban on Foreign Seafood in School Lunches

    Lawmakers in Louisiana have enacted a bill that prohibits schools from purchasing and serving foreign seafood in school lunches. House Bill 429 specifically bans public and state-funded schools from using imported seafood, and it extends the prohibition to the Louisiana House Dining Hall.

    UK Startup to Pilot Aquaculture Sensor on Lake VictoriaUK Startup to Pilot Aquaculture Sensor on Lake Victoria
    TradoublesTradoubles

    /

    UK Startup to Pilot Aquaculture Sensor on Lake Victoria

    London-based technology startup Aqsen Innovations has chosen Lake Victoria as the location to conduct trials of its aquaculture sensor system, Aquasense. The initiative aims to support fish farmers by enabling efficient and real-time monitoring of water quality.

    Kyokuyo Acquires Netherlands-Based Northseafood Holding to Boost Overseas ExpansionKyokuyo Acquires Netherlands-Based Northseafood Holding to Boost Overseas Expansion
    TradoublesTradoubles

    /

    Kyokuyo Acquires Netherlands-Based Northseafood Holding to Boost Overseas Expansion

    Tokyo-based seafood company Kyokuyo has extended its acquisition spree with the purchase of Netherlands-based Northseafood Holding.

    Pacific Seafood Fined $222,000 for Water-Quality Violations at Washington PlantPacific Seafood Fined $222,000 for Water-Quality Violations at Washington Plant
    TradoublesTradoubles

    /

    Pacific Seafood Fined $222,000 for Water-Quality Violations at Washington Plant

    The state of Washington has imposed a fine of USD 222,000 (EUR 207,000) on Pacific Seafood for water-quality violations discovered at one of its facilities.

    Op-Ed: Congressional Support Crucial for US Shrimping Industry's SurvivalOp-Ed: Congressional Support Crucial for US Shrimping Industry's Survival
    TradoublesTradoubles

    /

    Op-Ed: Congressional Support Crucial for US Shrimping Industry's Survival

    Troy E. Nehls, representing Texas' 22nd Congressional District, introduced the Save Our Shrimpers Act in April 2024. This legislation aims to ban federal funding for shrimp farming, foreign shrimp exports to the U.S., and shrimp processing through international monetary institutions. Currently, the American shrimp industry is facing an unprecedented crisis that threatens its survival.

    Seafood Expo Asia to Return to Singapore in SeptemberSeafood Expo Asia to Return to Singapore in September
    TradoublesTradoubles

    /

    Seafood Expo Asia to Return to Singapore in September

    The upcoming Seafood Expo Asia, scheduled from 4 to 6 September this year, is poised to capitalize on the success it achieved following its relocation to Singapore.

    Canada Imposes Strict Salmon Farming Regulations in British ColumbiaCanada Imposes Strict Salmon Farming Regulations in British Columbia
    TradoublesTradoubles

    /

    Canada Imposes Strict Salmon Farming Regulations in British Columbia

    The Canadian government has announced that conventional salmon farming will be banned in British Columbia starting at the end of June 2029. This move aims to transition the industry to closed containment systems, a decision and timeline that have caused significant concern within the nation's salmon sector.

    ACT Capital Launches Seafood Sector Advisory PracticeACT Capital Launches Seafood Sector Advisory Practice
    TradoublesTradoubles

    /

    ACT Capital Launches Seafood Sector Advisory Practice

    ACT Capital, an industry investment firm, has announced the launch of its Seafood Sector Advisory Practice, providing strategic advice and transaction expertise to the seafood industry.

    Mathias Bjørge Launches Innovative Salmon ProjectMathias Bjørge Launches Innovative Salmon Project
    TradoublesTradoubles

    /

    Mathias Bjørge Launches Innovative Salmon Project

    Norwegian seafood processor Mathias Bjørge has expanded its offerings to include Norwegian salmon, made possible by the establishment of a new salmon processing facility.

    G7 Leaders Accuse Russia of Unfair Fish and Seafood Trade PracticesG7 Leaders Accuse Russia of Unfair Fish and Seafood Trade Practices
    TradoublesTradoubles

    /

    G7 Leaders Accuse Russia of Unfair Fish and Seafood Trade Practices

    During their meeting in Apulia, Italy, from June 13 to 15, the leaders of the Group of Seven (G7) nations issued a comprehensive "Communiqué" that includes a critique of Russia's seafood-trading practices.

    Innovative Kit Launched for Fast Detection of Norovirus in OystersInnovative Kit Launched for Fast Detection of Norovirus in Oysters
    TradoublesTradoubles

    /

    Innovative Kit Launched for Fast Detection of Norovirus in Oysters

    Primerdesign, a specialist in PCR workflows, has launched a rapid real-time PCR kit designed for the detection of norovirus in oysters.

    Japanese Seafood Company Broadens Reach in European MarketJapanese Seafood Company Broadens Reach in European Market
    TradoublesTradoubles

    /

    Japanese Seafood Company Broadens Reach in European Market

    Kyokuyo, a Japanese seafood company, has secured a controlling interest in Dutch seafood processor Northseafood Holland, marking a strategic step towards establishing a foothold in the European market.

    Polar Seafood Greenland Faces Challenges Amid Fisheries Reform Following a Tough 2023Polar Seafood Greenland Faces Challenges Amid Fisheries Reform Following a Tough 2023
    TradoublesTradoubles

    /

    Polar Seafood Greenland Faces Challenges Amid Fisheries Reform Following a Tough 2023

    Polar Seafood Greenland Board Chair Michael Binzer announced that the company is awaiting further details on Greenland’s fisheries reforms, which are expected to compel the sale of one-third of its halibut and shrimp quotas.

    Salmon Scotland Launches Pioneering Gene Bank InitiativeSalmon Scotland Launches Pioneering Gene Bank Initiative
    TradoublesTradoubles

    /

    Salmon Scotland Launches Pioneering Gene Bank Initiative

    Salmon Scotland has significantly funded a groundbreaking gene bank project, among other conservation initiatives, in an effort to support the conservation of wild salmonid populations in Scotland.

    Ace Aquatec Partners with Shrimp Welfare Project to Enhance Slaughter MethodsAce Aquatec Partners with Shrimp Welfare Project to Enhance Slaughter Methods
    TradoublesTradoubles

    /

    Ace Aquatec Partners with Shrimp Welfare Project to Enhance Slaughter Methods

    In recent news, Toronto-based financial services firm Slate Asset Management has acquired the World Seafood Center in Oslo, Norway, for approximately USD 125 million (EUR 116 million). This seafood refrigeration and distribution facility is the latest addition to Slate’s European real estate portfolio.

    Nekkar and Bewi Invest Sell FiiZK Digital to Bluefront EquityNekkar and Bewi Invest Sell FiiZK Digital to Bluefront Equity
    TradoublesTradoubles

    /

    Nekkar and Bewi Invest Sell FiiZK Digital to Bluefront Equity

    Nekkar and Bewi Invest have sold FiiZK Digital to Bluefront Equity as part of a broader restructuring of the FiiZK group of companies. Based in Trondheim, Norway, FiiZK comprises a collection of firms specializing in the development and implementation of aquaculture technology.

    US Fishing Industry Criticizes Trawling LegislationUS Fishing Industry Criticizes Trawling Legislation
    TradoublesTradoubles

    /

    US Fishing Industry Criticizes Trawling Legislation

    Over 50 seafood organizations and companies in the United States have united in a letter urging U.S. Representative Mary Peltola (R-Alaska) to withdraw the Bottom Trawl Clarity Act. This legislation, introduced by Peltola last month, has raised concerns as it proposes potential restrictions on trawling gear across significant ocean areas.

    China's Seafood Trade Plummets in Early 2024China's Seafood Trade Plummets in Early 2024
    TradoublesTradoubles

    /

    China's Seafood Trade Plummets in Early 2024

    China’s demand for seafood imports has diminished in 2024 so far, with the rate of imports declining more rapidly than exports.

    Aldi France Initiates Shrimp Recall Due to Vibrio Bacteria RiskAldi France Initiates Shrimp Recall Due to Vibrio Bacteria Risk
    TradoublesTradoubles

    /

    Aldi France Initiates Shrimp Recall Due to Vibrio Bacteria Risk

    Aldi has announced a recall of frozen shrimp under the Golden Seafood brand amid concerns of potential contamination with vibrio vulnificus, a bacterium known for its pathogenic effects. The recall, conducted in conjunction with the French government, was initiated on 24 June following the discovery of vibrio in a specific batch of 400-gram shrimp bags sold from 18 March to 5 June 2024. The affected products, identifiable by a sell-by date of 22 October 2025 and lot number VN 089 V 101NTSF17 ALDIFR 23057B, are subject to the recall.

    NOAA: Alaska Chinook Salmon May Require ESA ProtectionNOAA: Alaska Chinook Salmon May Require ESA Protection
    TradoublesTradoubles

    /

    NOAA: Alaska Chinook Salmon May Require ESA Protection

    A preliminary review by NOAA Fisheries has determined that Alaska Chinook salmon may need to be listed as threatened or endangered under the U.S. Endangered Species Act (ESA). Wild Fish Conservancy Senior Ecologist Nick Gayeski called the finding "an encouraging first step" towards stronger protections and the development of scientifically credible recovery plans for the many at-risk Chinook populations in Southeast Alaska.

    Pesquera Diamante Appoints Gustavo Delgado-Aparicio as General ManagerPesquera Diamante Appoints Gustavo Delgado-Aparicio as General Manager
    TradoublesTradoubles

    /

    Pesquera Diamante Appoints Gustavo Delgado-Aparicio as General Manager

    NOAA Appoints Nancy A. Hann as Deputy Undersecretary for Operations Nancy A. Hann has been promoted within the NOAA Commissioned Officer Corps to the role of vice admiral and will now serve as NOAA’s deputy undersecretary for operations. In this position, Hann will manage NOAA’s national and international operations for oceanic and atmospheric services, research, and coastal and marine services.

    Responsible Seafood Summit 2024 Releases Program OutlineResponsible Seafood Summit 2024 Releases Program Outline
    TradoublesTradoubles

    /

    Responsible Seafood Summit 2024 Releases Program Outline

    The Global Seafood Alliance has unveiled the program outline for the upcoming Responsible Seafood Summit scheduled to be held in St Andrews, Scotland, this autumn.

    Scottish Salmon Exports Achieve Highest Levels in Five YearsScottish Salmon Exports Achieve Highest Levels in Five Years
    TradoublesTradoubles

    /

    Scottish Salmon Exports Achieve Highest Levels in Five Years

    Amid increasing demand, exports of Scottish salmon have surged to a remarkable value of £645 million, marking the highest figure recorded in the past five years.

    EU Fishing Sector Opposes Mackerel Agreement Between UK, Norway, and Faroe IslandsEU Fishing Sector Opposes Mackerel Agreement Between UK, Norway, and Faroe Islands
    TradoublesTradoubles

    /

    EU Fishing Sector Opposes Mackerel Agreement Between UK, Norway, and Faroe Islands

    Europêche and the European Association of Fish Producers Organizations expressed profound disappointment with the agreement, warning it could perpetuate a history of overfishing.

    Sajo Group Acquires Foodist in USD 180 Million DealSajo Group Acquires Foodist in USD 180 Million Deal
    TradoublesTradoubles

    /

    Sajo Group Acquires Foodist in USD 180 Million Deal

    Two subsidiaries of the Sajo Group, Oyang and Sajo CPK, have acquired a 99.86 percent stake in Foodist for KRW 252 billion (USD 181 million, EUR 169 million).

    South Bend Products Faces Fine for Violating Water-Quality PermitSouth Bend Products Faces Fine for Violating Water-Quality Permit
    TradoublesTradoubles

    /

    South Bend Products Faces Fine for Violating Water-Quality Permit

    South Bend Products, a seafood company based in South Bend, Washington, USA, has incurred a fine of USD 16,000 (EUR 15,000) for breaching its wastewater discharge permit terms.

    Increasing Demand for Seafood Snacks Among ConsumersIncreasing Demand for Seafood Snacks Among Consumers
    TradoublesTradoubles

    /

    Increasing Demand for Seafood Snacks Among Consumers

    Research conducted by the Norwegian Seafood Council (NSC) has found that a significant majority, 75 percent, of seafood consumers prioritize retailers that provide a diverse range of seafood options.