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


Algae blooms and salmon diseases increased Grieg's farming expenses in Q3.

Higher costs affect Grieg Seafood's income in Q3

Click on the flag for more information about Norway NORWAY
Thursday, November 08, 2018, 02:00 (GMT + 9)

Grieg Seafood Group reported a 14 per cent reduction in its operating income in the third quarter this year, to NOK 1,589 million (USD 18.9 million), compared to the same period last year.

The Group informed it harvested 16,941 tonnes of salmon, a harvest volume that is similar to that recorded in the same quarter in 2017 (16,875 tonnes).

Q3 2018 results. (Photo: griegseafood.no)

The farming cost increased by NOK 1.11 (USD 0,13) per kg compared to the same quarter last year, which is mainly related to reduced survival towards the end of the quarter due to algae incidents in British Columbia (Canada) and gill-related diseases on Shetland.

The Group's EBIT before fair value adjustment of biological assets was NOK 160 million (USD 19.1 million) during the quarter, compared to NOK 229 million (USD 27.4 million) in the same quarter of 2017.

Q3 2018 results. (Photo: griegseafood.no)

Grieg Seafood highlighted its goal by 2020 is to increase production to reach an annual harvest volume of 100,000 tonnes and a production cost at or below weighted industry average, targeting NOK 37.90/kg (USD 4.5).

       

      Room where fattening cages and farm in general can be remotely controlled. (Photo: griegseafood.no)

Representatives of the Group consider that continued access to high-quality smolt is critical to ensure future growth and reduce costs and that increased production of larger smolt will also shorten production time in sea, thus reducing exposure to biological risks and contributing to increased survival.

The four regions where Grieg grows salmon. (Photo: griegseafood.no)

Another essential aspect of Grieg Seafood's growth strategy is increased utilization of the Group's licenses. High site flexibility is essential to improve utilization, and the Group cooperates with local authorities on an ongoing basis to optimize flexibility.

During the quarter, the Group was granted two new locations in Finnmark. In addition, it has initiated the GSF 2020 improvement program, with specific targets and initiatives for each region.

Grieg Seafood expects to harvest approximately 24,100 tonnes in the next quarter, totalling 75,000 tonnes for the full year 2018, corresponding to an increase of 20 per cent from 2017.

Expected harvest volume for 2019 is 82,000 tonnes.
 
editorial@fis.com
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Denmark
Apr 24, 20:00 (GMT + 9):
BioMar is creating feed solutions targeted towards consumers
Japan
Apr 24, 20:00 (GMT + 9):
Japanese imports of frozen bigeye tuna fall in the first two months of 2019
Norway
Apr 24, 01:20 (GMT + 9):
Mowi unveils plans to farm salmon in the depths
Russian Federation
Apr 24, 01:20 (GMT + 9):
Auction of new crab quotas expected to generate nearly USD 1.3 billion
Zambia
Apr 24, 00:40 (GMT + 9):
Sustainable tilapia farm secures USD 10.5 million loan from Dutch investor
Peru
Apr 23, 22:20 (GMT + 9):
Patagonian toothfish exports surpass USD 470,000 in the first two months
Spain
Apr 23, 22:10 (GMT + 9):
Andalusia allocates EUR 300,000 in aid for smaller gear fleet affected by temporary stop
Spain
Apr 23, 22:00 (GMT + 9):
The Spanish fleet can fish in Sao Tome and Principe again
Mexico
Apr 23, 21:20 (GMT + 9):
Grupomar continues expanding its exports and adding markets
Colombia
Apr 23, 20:30 (GMT + 9):
Foreign ships intercepted for illegal fishing in Malpelo
Liberia
Apr 23, 19:00 (GMT + 9):
IN BRIEF - Illegal fishing and Liberia's battle to save the sea
Myanmar
Apr 23, 19:00 (GMT + 9):
IN BRIEF - MoU on rice exports signed with Yunnan govt
Australia
Apr 23, 19:00 (GMT + 9):
IN BRIEF - Slow Fish Australia Keeps the Conversation about Sustainable Seafood Going
United States
Apr 23, 03:00 (GMT + 9):
SFP announces Target 75 progress
Australia
Apr 23, 00:40 (GMT + 9):
BioMar appoints Managing Director in Australia



Lenguaje
FEATURED EVENTS
  
TOP STORIES
SFP announces Target 75 progress
United States The Target 75 initiative launched by Sustainable Fisheries Partnership is halfway toward the goal of 75 percent of seafood production in key sectors classified as sustainable or improving toward sustainability by the end of 2020.
So far in 2019, Korea and Japan are the main destinations for surimi exports
United States At US Customs, the average price of Alaskan pollock surimi (Theragra chalcograma) (HS 0304991130) was USD 2.70/kg in February. This price is up 8% on that of January and 6% on that of February 2018. I...
Surimi imports of Extra-UE increased in 2018
European Union  Table 1: CIF price of Extra-EU surimi imports, of the 28 countries of the EU, 2019/2018, USD/kg Origin ...
EC chooses the Galician brand 'pescadeRías' as an example of good practices
Spain The Xunta de Galicia's seal of quality 'pescadeRías', which covers Galician seafood products from artisanal fisheries, was chosen by the European Commission as an example of good practices financed by the European Maritime and Fisheries Fund.
 
Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
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. - Group Headquarters
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
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
Marona S.A.
Mowi ASA (formerly 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 | Headquarters
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 - Headquarters
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 - 2019 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER