IN BRIEF - Barramundi Group Ltd: Restructuring Efforts
SINGAPORE
Monday, September 09, 2024
Barramundi Group Ltd (“the Company”) (EURONEXT: BARRA) – Reference is made to the stock exchange notice dated 19 September?2023 regarding the Company’s former Australian operations, and the stock exchange notice dated 28 February 2024 regarding progress on financing of the Company’s operations in Brunei.
The resolution of the Australian operations and the meeting of immediate financing requirements in the Brunei operations marked key milestones in the critical restructuring of the Group’s subsidiaries.
Further to its restructuring efforts at the subsidiary level, the Company is now working with its financial advisors, KordaMentha Pte Ltd (“KordaMentha”), to implement a comprehensive restructuring scheme at the holding company. Their expertise will be instrumental in guiding the Company through the process of solidifying a restructuring plan that is aimed at securing the financial sustainability of the Company.
While the specifics of this restructuring is being fine-tuned, it is expected to materially affect the value of the Company’s shares.
The Company is committed to working closely with KordaMentha to finalize a strategy that will lead to a best possible outcome for all stakeholders.
Further updates will be provided as the restructuring process progresses.
Tilapia Prices Post Moderate Gains and Remain Stable Across Brazil
Tilapia prices recorded slight increases between February 9 and 13, maintaining stability in Brazil’s leading producing regions, according to the Center for Advanced Studies in Applied Economics (Cepea).
In Northern Paraná, the highest average price reached US$ 1.96 per kilogram (converted from R$ 10.24/kg), reflecting a 0.10% weekly increase.
In the Great Lakes region and Morada Nova de Minas, prices were equivalent to approximately US$ 1.84/kg (from R$ 9.62/kg), with gains of 0.63% and 0.43%, respectively.
Meanwhile, Western Paraná recorded an average of about US$ 1.67/kg (from R$ 8.74/kg), up 0.15%. In the Triângulo Mineiro and Alto Paranaíba region, tilapia averaged roughly US$ 1.88/kg (from R$ 9.82/kg), marking a 0.31% increase.
China has called on Japan to strictly observe the China-Japan Fisheries Agreement following the seizure of a Chinese fishing vessel in waters off southwestern Japan.
According to Mainichi, citing the Japan Fisheries Agency, the Chinese captain was released at 7:55 pm Friday after submitting a written guarantee for bail. He had been arrested after Japanese authorities claimed he attempted to evade inspection upon entering Japan’s exclusive economic zone.
The incident occurred on Thursday, with 11 crew members aboard the vessel, described by Kyodo News as a “tiger net fishing boat” commonly used to catch mackerel and horse mackerel. It marked the first seizure of a Chinese fishing boat by Japan since 2022, the Japan Times reported.
Speaking at a press briefing, Lin Jian, spokesperson for China’s Foreign Ministry, said China requires its fishermen to comply with laws and firmly protects their legitimate rights. He urged Japan to ensure fair law enforcement and safeguard the crew’s safety.
The Chinese Consulate General in Fukuoka is assisting with the crew’s return.
Earlier this week, Wu Jianghao, Chinese Ambassador to Japan, warned that bilateral ties face their most severe challenges since diplomatic normalization.
The Ministry of Fisheries has uncovered cases of underreporting in Fiji’s seafood export sector, with several companies declaring lower volumes than those actually shipped overseas.
Acting Permanent Secretary for Fisheries Saimone Tauvoli said a review of export data revealed significant discrepancies between company reports and official shipment records. “There were clear gaps between what was declared and what left our shores,” he stated.
In response, fisheries officials have been deployed to seafood outlets nationwide to monitor trade activities and ensure compliance. The Ministry is also cross-checking catch data directly with fishers and verifying that buyers hold valid licences.
Tauvoli stressed that only licensed sellers must operate in the trade to prevent the confiscation of produce and protect fishers’ incomes. He added that while pricing depends on quality, preventing spoilage and ensuring fair treatment of fishers remain top priorities.
The Ministry of Fisheries confirmed monitoring efforts will continue in collaboration with industry stakeholders to safeguard the integrity of Fiji’s export industry.
Three initiatives advance to final round of NASF Sustainability Award.
The North Atlantic Seafood Forum (NASF) has announced three finalists for the inaugural NASF Sustainability Award 2026, recognising initiatives and organisations focused on advancing sustainability in the global seafood industry.
The award forms part of NASF’s annual programme in Bergen, one of the seafood sector’s largest international meeting points, which brings together producers, processors, technology suppliers, investors, feed companies, and policymakers to discuss market conditions, regulatory developments, and long-term industry strategy.
Source: SalmonBusiness | Read the full article here
U.S. retail chain Target has announced it plans to cut around 500 jobs as CEO Michael Fiddelke, who took over the top position on 1 February, is aiming to return the retailer to profitability.
The job cuts, which include 400 distribution center jobs and another 100 jobs across its regional district level, were announced in an internal memo sent to employees on 9 February, per Fast Company, and were partly made to reallocate financial resources to boost the in-store customer experience.
The move does not affect store-level jobs
Author: Christine Blank / SeafoodSource | Read the full article here
Scotland’s largest salmon farming wellboat, the 93-metre Inter Alba, has successfully completed its first work period for Mowi Scotland, performing combined freshwater and FLS delicing treatment, owner operator Trident Aqua Services announced today.
The Inter Alba, which has a well capacity of approximately 6,500 cubic metres, was delivered from Sefine Shipyard in Turkey in December 2025.Designed by Salt Ship Design AS, the vessel focuses on fish welfare, careful handling, and high biosecurity standards.
Source: fishfarmingexpert | Read the full article here
After years of suspension, the iconic Argungu International Fishing Festival has returned to Argungu, in Kebbi State, northwestern Nigeria, drawing thousands to the waters of the Matan Fadan River, a UNESCO heritage site.
On Saturday, President Bola Tinubu joined crowds of spectators as fishermen competed to land the largest catch using only traditional tools such as hand-woven nets and calabash gourds. Some relied solely on their bare hands.
This year’s champion hauled in a massive 59kg (130-pound) croaker, earning a cash prize, while others sold their fish to boost the local economy. The river remains closed year-round and is overseen by the Sarkin Ruwa, or water chief.
Founded in 1934 to celebrate peace between the Sokoto Caliphate and the Argungu emirate, the festival ran for decades before insecurity and infrastructure challenges forced its suspension in 2010. After a brief return in 2020, the revival marks a renewed symbol of unity and cultural pride.
Asian cellular agriculture firm Avant is winding down its Singapore research subsidiary, Avant Proteins, but says it remains committed to securing approval for its cultivated seafood in the city-state.
Carrie Chan, Co-Founder, and CEO with Mario Chin, Co-Founder & CSO
Headquartered in Hong Kong, the startup is known for its cultivated fish technology and marine peptide platform, with research operations previously based in Singapore. According to a notice published in the Singapore Government Gazette and reported by The Straits Times, the Singapore entity is being voluntarily wound up.
In a statutory declaration, co-founder and CEO Carrie Chan said the company “cannot, by reason of its liabilities, continue its business.”
The move reflects ongoing consolidation in the cultivated protein sector across Asia. However, Avant stressed it is not shutting down entirely. In a recent LinkedIn post, the company confirmed it is still pursuing regulatory approval in Singapore and plans to take its “next step to support the industry in a different way.”
While its local research arm closes, Avant’s broader ambitions in cultivated seafood remain in focus.
A growing debate has emerged over Iceland’s proposed aquaculture legislation, as nearly 1,000 comments have been submitted on a draft bill introduced by Minister of Fisheries and Industry Hanna Katrín Friðriksson.
Most of the feedback focuses on salmon farming in sea cages, with minimal attention given to land-based aquaculture — a disparity industry leaders say highlights a fundamental issue with the proposed law.
Lárus Ásgeirsson, chairman of Laxey in Vestmannaeyjar and head of the land-based aquaculture division of the Farmers Association of Iceland (BÍ), argues that the two sectors should not be regulated under the same legislation.
“We want to clearly separate land-based aquaculture from sea-cage farming,” Ásgeirsson said in an interview with 200 mílur.
He and other representatives maintain that land-based fish farming, conducted in closed systems on land, more closely resembles livestock agriculture than marine cage operations. Reflecting that view, the land-based aquaculture interest group operates within BÍ, which has formally submitted comments on the bill.
Industry stakeholders now urge lawmakers to introduce a separate bill tailored specifically to land-based aquaculture.
TOKYO – The Norwegian Seafood Council has appointed global communications agency Burson to lead integrated communications in Japan, expanding their partnership beyond Korea.
Under the new mandate, Burson will deliver strategic counsel and integrated campaigns across earned media, influencer engagement, industry communications and brand activations. The goal is to boost awareness, consideration and consumption of Norwegian seafood in two of the world’s leading seafood markets.
“Burson has delivered excellent strategic thinking and proven performance in Korea,” said Johan Kvalheim, counsellor fisheries at the
Meet the Sea Rangers – Germany’s New Stewards of the Baltic Sea Germany
EU-funded program retrains fishers in Mecklenburg-Western Pomerania, safeguarding coastal heritage while restoring marine ecosystems
For generations, fishers have formed the backbone of Germany's Bal...
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Far Eastern Basin Leads as Pollock and Herring Drive Strong Seasonal Performance
According to the latest figures from the industry monitoring system of the Federal Agency for Fisheries ...
SINGAPORE
The resolution of the Australian operations and the meeting of immediate financing requirements in the Brunei operations marked key milestones in the critical restructuring of the Group’s subsidiaries.
BRAZIL
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JAPAN.png)
According to Mainichi, citing the Japan Fisheries Agency, the Chinese captain was released at 7:55 pm Friday after submitting a written guarantee for bail. He had been arrested after Japanese authorities claimed he attempted to evade inspection upon entering Japan’s exclusive economic zone.
FIJI
The Ministry of Fisheries has uncovered cases of underreporting in Fiji’s seafood export sector, with several companies declaring lower volumes than those actually shipped overseas.
NORWAY.png)
The 
UNITED STATES
U.S. retail chain 
UNITED KINGDOM
Scotland’s largest salmon farming wellboat, the 93-metre Inter Alba, has successfully completed its first work period for 
NIGERIA
ICELAND
Most of the feedback focuses on salmon farming in sea cages, with minimal attention given to land-based aquaculture — a disparity industry leaders say highlights a fundamental issue with the proposed law..png)
