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IN BRIEF - Fitch Affirms and Withdraws China Fishery's Ratings

Saturday, December 23, 2017

HONG KONG - Fitch Ratings has affirmed and withdrawn all its ratings for China Fishery Group Limited. The ratings are: China Fishery Group Limited - Long-Term Issuer Default Rating (IDR) of 'D' - Senior unsecured rating of 'C' with Recovery Rating of 'RR5' CFG Investment S.A.C - Rating on USD 300 million senior notes guaranteed by China Fishery of 'C' with Recovery Rating of 'RR5' Fitch is withdrawing the ratings of China Fishery as China Fishery has defaulted.

Accordingly, Fitch will no longer provide ratings or analytical coverage for China Fishery. KEY RATING DRIVERS Asset Sale Delayed: According to press reports, the sale of China Fishery's Peruvian fishing operations, originally scheduled for December, has been delayed. Fitch views China Fishery's Peruvian anchovy fishing and processing operations as the most important driver of earnings and value among China Fishery's subsidiaries.

Peruvian Operations Drive Recovery Rating: Fitch's Recovery Rating of 'RR5' is mainly driven by the value of the Peruvian fishing operations, which Fitch estimates based on 6x estimated steady state EBITDA of USD100 million. In addition, we have also factored in USD120 million for the China Fishery fleet based on a 50% discount to the most recently disclosed net asset value, and a 10% haircut for administrative claims. 

Source: Reuters

IN BRIEF - Ocean tides could have driven ancient fish to walk

Saturday, February 17, 2018

Tides that left fish high and dry hundreds of millions of years ago could have kick-started the evolution of land-walking vertebrates.

New calculations suggest that, around 400 million years ago, many coastlines experienced two-week tidal cycles that varied in height by four metres or more. Such a huge range could have stranded fish in tidal pools for a couple of weeks. Only the ones with fins strong enough to muscle themselves out would have been able to journey back into the ocean and survive. Fossil evidence for the earliest known land vertebrates comes from places that had such wide tidal ranges.

Hannah Byrne, who led the work while at Bangor University, UK, and is now a doctoral student at Uppsala University in Sweden, reported the findings on 15 February 2018 at the Ocean Sciences meeting in Portland, Oregon.

Source: Nature

IN BRIEF - FFAW-Unifor not voice for inshore harvesters: FISH-NL

Saturday, February 17, 2018

DFO clewed up a series of 20 outreach meetings this week that began in November and went around the province.

Ryan Cleary, president of FISH-NL (Federation of Independent Sea Harvesters of Newfoundland and Labrador), said in a release Friday that the most common issue during the meetings held around the province by the federal Department of Fisheries and Oceans is that the FFAW-Unifor is no longer the voice of inshore harvesters.

“That sentiment was expressed at every single meeting — without exception — and with union representatives front and centre in the room,” Cleary stated. “The FFAW-Unifor no longer speaks for most harvesters, and that message should be loud, clear, and obvious to the entire fishing industry, including federal Minister Dominic LeBlanc.”

FISH-NL estimates the turnout for all meetings at just under 520 harvesters, which the release said is low considering their total number is estimated at between 4,500 and 10,200. The province’s Labour Relations Board still working to confirm the numbers.

Source: The Telegram

IN BRIEF - Macquarie Harbour salmon deaths called into question after fish farmer Petuna cuts 22 jobs

Saturday, February 17, 2018

Petuna Aquaculture has sacked 22 people from its fish-farming operations, after disease killed off thousands of its salmon in Macquarie Harbour.

The company said the decision was regrettable but a necessary step to ensure the business remained competitive.

All three of Tasmania's salmon companies farm in Macquarie Harbour and all have had pens affected by pilchard orthomyxovirus, or POMV, this summer.

Source: ABC

IN BRIEF - NZ sea lion killed in fishing net highlights need for action - WWF

Saturday, February 17, 2018

A New Zealand sea lion drowning this week in a squid fishing net in the Auckland Islands highlights the need to urgently address questions about the effectiveness of Sea Lion Exclusion Devices (SLEDs).

WWF-New Zealand CEO Livia Esterhazy says "We understand that accidents happen, but for NZ sea lions to recover, we need the government to work to reduce the number of sea lions accidentally killed in fishing nets to something very close to zero.

"NZ sea lions are the world’s rarest sea lion. Fishing nets are the biggest human-made threat to these precious animals, so it’s important that we take a precautionary approach to fishing in their habitat.

Source: Voxy

IN BRIEF - Strike brings mechanised fishing sector to a standstill

Saturday, February 17, 2018

KOLLAM - An indefinite strike kicked off on Thursday 15th of February 2018 by the mechanised fishing boat operators has brought the mechanised fishing sector in the state to a complete standstill.

The strike, under the banner of All Kerala Fishing Boat Operators Association, is estimated to have caused huge losses in foreign exchange earnings through seafood exports. Also, state and central governments will suffer a daily revenue loss of about INR 3 crore each, collected as goods and service tax (GST) and excise duty on diesel used by the boats. That is based on the calculation that each fishing boat on an average required more than 500 litres of diesel per day. There are close to 4,000 mechanised fishing boats based in Kerala.

Source: Times of India

IN BRIEF - Failure to report seabird and fish death 'commonplace' in industry, fishing company boss says

Saturday, February 17, 2018

A fishing company director says failure to report the deaths of seabirds and non-quota fish species is "commonplace" within the industry.

The statements, contained in an Employment Relation Authority (ERA) determination, have come to light two days after Fisheries Minister Stuart Nash said scrapping the rollout of on-board monitoring cameras may be a possibility.

Andrew Robson, who runs Impulse Fishing Co. Ltd., operating from Neils Beach in South Westland, also admitted failing to report approximately 20 accidental seabird deaths per year between July 2011 and August 2014.

Source: Stuff

IN BRIEF - Young’s Seafood Recall Chip Shop Fish Cakes 6 Pack

Friday, February 16, 2018

As a precaution, Young’s Seafood are recalling packs of its Young’s Chip Shop Fish Cakes 6 Pack that have been manufactured from a batch where a small number of the fish cakes were found to have been contaminated with small pieces of hard plastic and potentially small pieces of metal. The ONLY affected Fish Cakes are those with the production codes AAL 7209K, AAL 7209L, AAK 7222J & AAL 7222K. The Best Before Date may be found on the side of the pack. Packs have been on sale at Farmfoods and Heron Foods. Customers are advised not to consume the product.

For details of how to return the product for a full refund please call the Young’s Seafood care line on: 0800 496 8647 or email.

The recall does not affect any other Young’s Seafood products.

Press Release: Young's Seafood

IN BRIEF - King Salmon to keep lobbying government over Marlborough farms

Friday, February 16, 2018

New Zealand King Salmon says it will continue to push for more salmon farms in the Marlborough Sounds to be moved, following a report by an independent panel recommending to the government that three of the six farms be relocated.

The independent panel released the report to the previous National government in July 2017, following public hearings in April and May that year.

Fisheries Minister Stuart Nash said that he is "some months" from making a decision, and released the report to enable the people and groups who made submissions to study it while he considers the next steps.

Source: NZ Herald

IN BRIEF - Lenten season brings seafood boom

Friday, February 16, 2018

SAN ANTONIO - This time of year is absolutely crucial for the seafood industry, but at San Antonio's Groomer's Seafood, they've been on a roll since Super Bowl Sunday.

 Between Fat Tuesday, Valentine's Day, Ash Wednesday and Lenten Fridays, seafood is in high demand, and Groomer's is diving right in.

They've been a San Antonio favorite since '83, but fishing has been in the family business for a long time.

"It started down in South Texas. We were the original commercial fishermen down in that part of the world, and we've been doing it since probably the start of the century we've been doing it," said Richard Groomer.

Source: Espectrum News

IN BRIEF - Noisy Shrimp May Be Helping Gray Whales Find Their Prey

Friday, February 16, 2018

Scientists in the Northwest have detected a species of shrimp much farther north than it’s ever been found before.  Researchers at Oregon State University haven’t actually seen the snapping shrimp, instead, they heard them off the Oregon Coast.

Oregon State University scientist Joe Haxel recorded hours of underwater sound, tracking whales and boat noise.

“We brought the data back and started looking through it, and we found an area where there wasn’t a lot of boat traffic and we knew there wasn’t a lot of weather, we had this really loud signal happening,” he said.

Haxel heard a sound that can be described as similar to rain falling on Pop Rocks. There’s a popping static created by thousands of shrimp claws pushing out jets of water at extremely high speed. The speed and disturbance create a tiny bubble that immediately collapses, creating a noise so loud and strong it can to stun prey a few inches away.

Source: OPB

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Half of Spanish restaurants serve fish other than those offered
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IN BRIEF - FFAW-Unifor not voice for inshore harvesters: FISH-NL
United Kingdom
Feb 17, 02:00 (GMT + 9):
IN BRIEF - Ocean tides could have driven ancient fish to walk
New Zealand
Feb 17, 02:00 (GMT + 9):
IN BRIEF - Failure to report seabird and fish death 'commonplace' in industry, fishing company boss says
Feb 17, 02:00 (GMT + 9):
IN BRIEF - Strike brings mechanised fishing sector to a standstill
New Zealand
Feb 17, 02:00 (GMT + 9):
IN BRIEF - NZ sea lion killed in fishing net highlights need for action - WWF
Feb 17, 02:00 (GMT + 9):
IN BRIEF - Macquarie Harbour salmon deaths called into question after fish farmer Petuna cuts 22 jobs
Feb 17, 01:30 (GMT + 9):
Exalmar ended 2017 with positive results, despite drop in Q4
Feb 17, 01:00 (GMT + 9):
Cargill launches new aquaculture technology center
Feb 17, 00:20 (GMT + 9):
Adisseo completes acquisition of Nutriad
Feb 16, 23:20 (GMT + 9):
Malaysia's largest tuna processing plant planned for Perak
Feb 16, 23:00 (GMT + 9):
Maximum catch of southern hake remains unchanged
Feb 16, 22:20 (GMT + 9):
Company plans to process shrimp fishery waste in Chubut
United Kingdom
Feb 16, 22:00 (GMT + 9):
IN BRIEF - Young’s Seafood Recall Chip Shop Fish Cakes 6 Pack

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VASEP - Vietnam Association of Seafood Exporters & Producers
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Furuno Electric Co., Ltd. (Headquarters)
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FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
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Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
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David Suzuki Foundation
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