Other Media | SeafoodSource: Xianmeilai Food Co hopes third time’s the charm for IPO effort
Wednesday, May 24, 2023
Chinese seafood processor and convenience seafood distributor Xianmeilai Food Co. is once again going for an initial public offering.
This is the third time Xianmeilai Food has filed for an IPO on the stock market listing in Shanghai Stock Exchange, following unsuccessful attempts in 2021 and 2022. The privately owned company is seeking to raise CNY 600 million (USD 96 million, EUR 84 million) to expand its distribution and logistics network as it bets big on growing Chinese demand for convenience meals.
Author: Mark Godfrey / SeafoodSource | read the full article here
Mussel farmers say they have suffered "unfathomable" losses due to an intense plankton bloom off Thailand's east coast. This was reported by the South China Morning Post.
An unusually dense plankton bloom has created a "dead zone" off Thailand's east coast, threatening mussel production in those waters. According to experts, in some areas of the Gulf of Thailand the amount of plankton is more than 10 times higher than normal. Because of this, the water turned bright green, and the animals living in it died. At the same time, more than 80% of the 300 mussel farms located there were damaged along the coast of Chonburi.
As the publication writes , plankton usually blooms 1 or 2 times a year for 2–3 days. This depletes oxygen in the water and blocks the flow of sunlight, which negatively affects the lives of marine life.
Although the reason for the intense plankton bloom remains unclear, scientists have speculated that pollution and extreme heat associated with climate change are to blame.
The total trade turnover of fishery products between Russia and China by September 18, 2023 reached 811 thousand tons worth 1.71 billion US dollars. The growth was 81% (in volume terms) compared to the level of last year (as of the same date).
Russia exported 771 thousand tons of fish products to China - 86% more than in 2022. In monetary terms, Russian fish exports to China amounted to $1.49 billion.
The total volume of imports of fish products to Russia from China reached 41 thousand tons of products with a total value of 226 million US dollars, 18% more than last year in physical terms.
The day before, Russian President Vladimir Putin said that the total trade turnover between the Russian Federation and China could approach $200 billion.
Source: United press service of Rosrybolovstvo (translated from original in russian)
Maersk ECO Delivery reduces global greenhouse gas (GHG) emissions footprints through certified low emission fuel for ocean shipping as an alternative to fossil fuels
Florham Park, New Jersey – A.P. Moller - Maersk (Maersk) and Amazon have finalized a 2023-2024 agreement for the transport of 20,000 FFE containers using green biofuel through Maersk’s “ECO Delivery” ocean product offering. Maersk estimates this purchase will contribute to a reduction in 44,600 metric tons of CO2e vs standard bunker fuel, roughly equivalent to 50 million pounds of coal burned. This is the fourth consecutive year that Amazon and Maersk have arranged container shipping using low GHG fuel options.
The ECO Delivery biofuel option offers emission reductions that enable immediate and externally verified GHG savings for customers, without compensatory measures like offsetting. This year, Amazon will benefit from a new feature of the ECO Delivery product which will be enabled by also using green methanol in addition to the bio diesel as a second green fuel* in the vessel fleet. ECO Delivery is using primary data for fuel consumption in the methodology to report emissions savings with greater precision, inclusive of other greenhouse gases in addition to the CO2.[...]
A proposed amendment to the fisheries law by the Ministry of Agriculture and Cooperatives is underway, designed to alleviate the economic issues plaguing fishermen who assert that their livelihoods are compromised by stringent regulations.
Thammanat Prompow, the Minister, acknowledges the concerns raised by fishing communities, who claim to be adversely impacted by the Fisheries Act. This fisheries law, originally instituted to curb Illegal, Unreported and Unregulated (IUU) fishing in Thailand, has drawn criticism for its severity. In response, the ministry has established a committee to investigate these concerns, as announced by Thammanat.
He further elaborated that the committee would comprise representatives from the government, business sector, and civil society, and is scheduled for its inaugural meeting this week.
Thammanat emphasised the significance of the fisheries sector in propelling economic growth, citing its contribution of approximately 130.3 billion baht (U$D 3.6 billion) to the Gross Domestic Product (GDP) in the previous year. This was partly attributed to the Department of Fisheries’ efforts to augment fish stocks and collaborate with local communities to conserve marine life.[...]
Korea's exports of farm and fisheries products had marked a slight on-year growth this year as of mid-September on the solid global demand for instant noodles and other food items in line with the popularity of Korean culture, the agriculture ministry said Monday.
Outbound shipments of agricultural and fisheries goods came to $6.31 billion from January through the second week of September, up 0.4 percent from a year earlier, according to the Ministry of Agriculture, Food and Rural Affairs.
Global sales of those products logged an on-year fall during the first eight months of 2023, as last year's tally hit an all-time high, but made a rebound this month.
Rice-based food items, such as gimbap, or seaweed rice rolls with vegetables, enjoyed a 16.2 percent sales growth to $145 million, and exports of Kimchi rose 9.9 percent to $113 million.
By destination, exports to China grew 11.3 percent on-year to $977 million, and those to the United States rose 3.8 percent to $910 million. Sales in the European Union and Britain increased 1.2 percent, according to the ministry.
The government vowed to extend support for exporters in advancing into new markets and better ensuring the quality of fresh food items.
GroAqua has delivered a 480 ton feeding barge to Icelandic company Háafell. The barge is located in Ísafjørður in Northern Iceland and will be exposed to extreme weather conditions with temperature down to minus 20 degrees.
The feeding barge is custom designed to maximise fuel efficiency to reduce the impact on the environment. A hybrid power supply powers all systems onboard, with generators running only two to four hours per day.
The Norwegian Government has launched a global surveillance program to prevent crimes in the fishing sector. More than a third of the world's coastal states will have access to data and expertise from Norwegian satellites, which they can use to carry out surveillance in their own waters and detect illegal practices.
"Fisheries crimes threaten the sustainability of oceans and maritime ecosystems, depriving local communities of jobs and resources. The fight against illegal fishing is very important for a large maritime nation like Norway.
Source: Industrias Pesqueras | Read the full articlehere
New Zealand King Salmon posted a profit in the first half of the year due to reduced mortalities and higher pricing.
The Nelson, New Zealand-based aquaculture firm scored a NZD 10.6 million (USD 6.3 million, EUR 5.9 million) half-year profit, a positive jolt compared to its net loss of NZD 24.5 million in the same time period a year prior.
Author: Cliff White / SeafoodSource | read the full articlehere