On the Waterfront – April 2024

OCI Sells Scallop Quota to Focus on N.L. Operations

Ocean Choice International (OCI) has sold its Nova Scotia scallop quota to Mersey Seafoods, LaHave Seafoods and Comeau’s Sea Foods.

This sale of OCI’s quota came in exchange for Greenland halibut and Northern cod quota from Mersey as well as Greenland halibut, Northern cod and redfish quota from LaHave. LaHave will also be acquiring OCI’s pollock, haddock and flounder quotas as well as the company’s assets in Riverport, Nova Scotia.

“We are committed to sustainably growing our place in the fishery in Newfoundland and Labrador; and this decision supports our investment and growth in our business and the fishing industry here at home,” said Martin Sullivan, CEO of Ocean Choice. “Selling our scallop quotas consolidates our operations to Newfoundland and Labrador, our home province, reinforcing our commitment to the people and communities who rely on the fishery for employment and economic opportunities.”

 

 

More Than $260,000 in Fines for Halibut Fishery Convictions

Five individuals and three companies have been convicted of 18 violations of the Fisheries Act and Regulations and collectively fined more than $260,000 following the prosecution of a 24-month major case investigation into the halibut fishery in the Sambro area of Nova Scotia.

Charges included failing to have catch verified by a dockside observer and providing inaccurate catch information in order to land more halibut than was allowed in conditions of licence.

In addition, one individual received a 60-day licence suspension during which they could not fish or renew their licence; and another individual received a six-month licence suspension, during which they were prohibited from boarding a commercial fishing vessel in Canadian or American waters; from possessing or acquiring any interest in a fishing vessel or licence; and from possessing commercial fishing gear of any kind.

Atlantic halibut has become the most valuable species for groundfish licence holders in Nova Scotia over the past several years, says the Department of Fisheries and Oceans (DFO), and accounted for 59 per cent of the value of the groundfish fishery in DFO’s Maritimes Region in 2022.

 

 

Grieg Seafood N.L. Undergoing Restructuring in Management

Knut Skeidsvoll, Managing Director of Grieg Seafood Newfoundland and Perry Power, Grieg N.L.’s HR and Communications Director, have announced their retirement as of February 5, 2024.

Skeidsvoll has been with the company for a decade, having led the development of Grieg’s aquaculture project in Placentia Bay since 2014, while Power has been in his position for the past eight years. Skeidsvoll has resolved to remain in his position until June 2024 to aid in the transition while Grieg searches for a new managing director for their N.L. operations.

In the interim, Grant Cumming, the Chief Operating Officer of Farming North America, will take on the responsibilities of the Managing Director.

 

 

High Liner Foods Releases 2023 Financial Report

High Liner Foods has released its 2023 fiscal report, which ended on December 2023. Highlights from the fourth quarter of High Liner’s year include a sales volume increase of 1.2 million pounds, a gross profit decrease of $6.1 million and a net income decrease of $4.7 million. The company also reported a cash flow from operations of $255.5 million for the 2023 fiscal year.

“In fiscal 2023 we generated the highest free cash flow in our history and took the opportunity to significantly reduce debt, invest in our business and return capital to our shareholders,” said Paul Jewer, President and Chief Executive Officer for High Liner Foods. “While our Q4 results were below the potential of our business due to the ongoing challenges posed by the macro-economic environment, we are confident that the underlying fundamentals of our business, and our strategy, remain sound.”

 

 

Mowi Releases 2023 Fiscal Reports of “Record Year”

Aquaculture company Mowi has released its fourth-quarter financial report for 2023, in which the company broke many personal records. According to Mowi, the company achieved revenues of 5.5 billion euros, operational profits of 1.028 million euros and a harvest volume of 475,000 tonnes — all of which exceeded their previous records.

“I am extremely grateful for the hard work and dedication of my 11,500 colleagues around the world that has led to record results and stellar performance in Mowi’s three business areas — Farming, Consumer Products and Feed — in 2023,” said Mowi CEO Ivan Vindheim.

 

 

Cooke Inc. Wins Product of the Year Award in Frozen Meals

Cooke Inc.’s North Seafood Crab Dip has been voted the winner of Product of the Year’s 2024 winner in the Frozen Meals category.

Cooke’s True North Seafood Crab Dip is made of Uruguayan red crab, cream cheese, goat cheese and spices. The frozen product comes packaged in an oven-safe and microwave-safe tray for easy preparation.

“As the world’s largest consumer-voted award for product innovation, Cooke and True North Seafood are proud to be recognized for this prestigious award among an impressive list of winners,” said Glenn Cooke, CEO of Cooke Inc. “Our retail grocery team continues to find creative ways to bring our delicious seafood offerings to tables each day, and this win is a testament to that work this past year.”

 

 

Grieg Seafood to Construct Salmon Processing Facility Near Oslo, Norway

In order to efficiently process salmon for their aquaculture facilities in Rogaland and Finnmark, Grieg Seafood is constructing a centrally located salmon processing facility in the Oslo airport city of Gardermoen, Norway.

This energy-efficient facility, which will be operational by summer 2025, has a production capacity of 10,000 to 12,000 tonnes, with an option of increasing capacity to 20,000 tonnes if needed in the future. The plant will also provide between 50 and 60 jobs, according to Grieg.

“Grieg Seafood aims to take one step closer to the customer and the market. With this tailor-made facility, we will make high-quality products from our fish with the most modern equipment available,” said Erik Holvik, Chief Commercial Officer at Grieg Seafood. “In addition, we will be able to cut significant amounts of CO2 emissions from the transportation of our products to the world.”

 

 

Elanco Sells Aqua Business to Merck for $1.3 Billion

Animal health company Elanco has sold its aqua business to Merck Animal Health for $1.3 billion. The company has reportedly sold these holdings to focus on its pet health and livestock sustainability business. The $1.3 billion sale represents about 7.4 times the estimated 2023 revenue of Elanco’s aqua business.

“We are excited for the acquisition of Elanco’s aqua products, solutions as well as the capabilities and expertise the team brings to our business,” said Rick DeLuca, president of Merck Animal Health. “We believe this acquisition, coupled with our commercial and scientific prowess, will deliver enhanced benefits for our aqua customers. The addition of this innovative portfolio of cold water and warm water aqua products across vaccines, anti-parasitic treatments, water supplements and nutrition, will establish Merck Animal Health as a leader in aqua.”

 

 

Marine Atlantic Welcomes Ala’suinu

Marine Atlantic’s newest hybrid-electric ferry, Ala’suinu, is projected to arrive at their facilities by April 2024.

The vessel, which will ferry passengers between Argentia and Cape Breton in the summer and between Port aux Basques and North Sydney in the fall, winter and spring, features measures to reduce underwater noise that can impact marine life. The ferry will also feature 146 passenger cabins, 40 passenger pods, food service options, a children’s play area and a kennel for pets.

Marine Atlantic’s newest hybrid-electric ferry, Ala’suinu. Photo from facebook.com/marineatlanticferries

“We are very excited to welcome the Ala’suinu to our service,” said Gary O’Brien of Marine Atlantic’s board of directors. “With a focus on reducing our environmental impact, the latest accessibility features, state-of-the-art technologies, and enhanced customer amenities, I am confident our customers will be impressed with the newest addition to our fleet. I would like to thank the Government of Canada for their investment making it possible to add the Ala’suinu to our fleet.”

 

 

Hefring Marine Partners with ICE-SAR

The Icelandic Association for Search and Rescue (ICE-SAR) has partnered with Hefring Marine to outfit their fleet with Hefring’s Intelligent Marine Assistance System (IMAS).

IMAS uses a combination of data capture and analysis, artificial intelligence and sensor technology to allow captains and fleet managers to make decisions regarding speed, maintenance and operating practices.

“This partnership with Hefring Marine marks a pivotal moment in our continuous effort to advance the capabilities of our crew and fleet. The integration of Hefring Marine’s innovative technology aligns with our commitment to safety and efficiency, ensuring our crews are supported by the best tools available as they perform their critical missions in the tough conditions they are often forced to encounter. We are eager to see the positive impact this will have on our operations.”

 

 

Bioriginal Acquires POS

Bioriginal Food and Science Corp., a subsidiary of Cooke Inc., has acquired POS Biosciences Corp.

POS, which stands for Proteins, Oils and Starches, will operate independently under Jim Shields, the company’s new managing director. Bioriginal will, in turn, become POS’ largest vendor and customer. POS creates value-added oils and proteins through oil processing, concentration and molecular distillation.

“We are grateful for the opportunity to acquire POS,” said Shannon Sears, President and CEO of Bioriginal. “POS’s world-leading processing technology combined with its team of scientists in new product development will play a key role in driving innovation for the human and pet nutrition industries.”

 

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