Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Bigeye tuna. (Photo Credit: NOAA)

Chinese govt takes distance from tuna fishing firm

Click on the flag for more information about China CHINA
Thursday, October 16, 2014, 00:50 (GMT + 9)

Authorities in China have decided to distance themselves from the firm China Tuna Industry Group Holdings (CTI), since it is deemed as ‘incompatible’ with China's conservation and management measures.

This move was made after the newspaper Star Times revealed that the Chinese-operated tuna fishing company had breached fishery management rules and ‘seriously misled investors and the international community,’ Stuff posted in its website.

Meanwhile, environmental group Greenpeace -- which had carried out investigation on the firm’s initial public offering’s (IPO) documents -- received confirmation from the Bureau of Fisheries that data on those documents were outdated and inaccurate on the size of tuna stocks, particularly bigeye tuna.

According to a bureau memo dated 30 September, "The bureau has never given approval for CTI to engage in offshore fishing, has not registered their fishing boats with any regional fisheries management organization nor allocated any quota to the company".

Greenpeace East Asia senior business adviser Elsa Lee said the group welcomed China's "strong stand" against the company.

"We are looking forward to China taking stronger measures [...] against the fishing companies to make sure that they are not over-catching the catch limit in the tuna stocks," she said.

Furthermore, Greenpeace also wrote to Deutsche Bank warning its support of the company's IPO risked breaching its own environmental guidelines.

The Western and Central Pacific Fisheries Commission (WCPFC) welcomed the NGO’s steps, since bigeye and yellowfin tuna stocks are under pressure.

WCPFC admitted the Chinese government has been working hard to fix problems in its industry but claimed China will have some explaining to do when it meets with more than 30 countries that will come together in December to review conservation measures.

"I suspect there will be a number of questions raised on the prospectus at the commission meeting in Samoa in December, and I expect that China will have quite a few difficult questions to answer," expressed WCPFC executive director Glenn Hurry.

For its part, CTI has admitted to breaching catch quotas for the most vulnerable species in the Pacific, reported Radio Australia.

In a draft prospectus presented to the Hong Kong Stock Exchange, CTI reported that China had exceeded the catch quotas for bigeye and yellowfin tuna for three of the last four years for which records are available.

However, the Group claimed sanctions were ineffective and that, according to legal advice, it would not be penalised for its actions.

CTI also outlined plans for a public listing that it hoped would raise more than USD 100 million to fund expansion of its activities.

CTI is Cayman Island-registered with a Chinese-flagged tuna longliner fleet under a CTI subsidiary, Dalian Ocean Fishing Company Ltd.
 


[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Canada
Nov 18, 02:20 (GMT + 9):
Pension plan buys Atlantic Aqua Farms mussel producer
Morocco
Nov 18, 01:30 (GMT + 9):
Spain intends to achieve greatest possible increase for bluefin tuna TAC
Spain
Nov 18, 00:20 (GMT + 9):
AZTI to analyze climate change effects in four important Spanish fisheries
Egypt
Nov 18, 00:20 (GMT + 9):
Egypt to house Middle East largest fish farm
China
Nov 17, 23:30 (GMT + 9):
Sino Agro Food obtains lower sale revenue
United States
Nov 17, 23:00 (GMT + 9):
IN BRIEF - Alaska Crab Fishery: 30-Day Comment Period Open on RFM Draft Assessment Reports
United States
Nov 17, 23:00 (GMT + 9):
IN BRIEF - GAA’s Jeff Fort Takes on Role of COO
Russian Federation
Nov 17, 23:00 (GMT + 9):
IN BRIEF - Russia poised as ‘exciting’ market for PH shrimp
United States
Nov 17, 23:00 (GMT + 9):
IN BRIEF - Salmon population booms on state’s Mokelumne River as restoration efforts pay off
United States
Nov 17, 22:40 (GMT + 9):
Washington legislators propose banning Atlantic salmon farming in pet nets
Spain
Nov 17, 22:30 (GMT + 9):
Galicia and Wales will sign an agreement to minimize 'Brexit' impact
European Union
Nov 17, 21:50 (GMT + 9):
Baltic illegal discarding worsens despite landing obligation
Chile
Nov 17, 21:20 (GMT + 9):
A kilometre of illegal nets used to capture spider crab detected
Ecuador
Nov 17, 03:10 (GMT + 9):
Shrimp sector electrification to improve competitiveness
United States
Nov 17, 02:50 (GMT + 9):
Dungeness crab season starts in California



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Over 700,000 smolt die at Marine Harvest’s farm
Norway Between October 13 and October 14, over 700,000 smolt died at the Marine Harvest Steinsvik fish farm outside Volda, in Møre og Romsdal county.
Port strike hits Bio Bio fishing sector
Chile It is estimated that some USD 243 million has been lost by the Bio Bío Region due to the national strike that since November 7 has been carried out by port workers.
Russian Aquaculture hopes to gather about 33.7 million in public offering
Russia Fed. Russian Aquaculture has set at between RUB 110 and RUB 140 the price range of the new shares it will list in market, with which it expects to raise up to RUB 2 billion.
50-80pct of fish in Pacific Islands could disappear due to climate change
Canada Many Pacific Island nations will lose from 50 to 80 per cent of marine species in their waters by the end of the 21st century if climate change continues unchecked, warn the authors of a new Nippon Foundation-Nereus Program study.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2017 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER