SeaFood Business

MAY 2013

SeaFood Business is the global trusted authority for seafood buyers and sellers. We are the seafood industry's leading trade magazine with more than 30 years of experience. Our coverage is based on the "business" of buying and selling seafood.

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Global News PUERTO MONTT, Chile I nfectious Salmon Anemia (ISA) outbreaks at two Chilean salmon farms are causing concern in the global seafood industry, but the problem hadn't yet impacted supply and pricing. Los Fiordos, which owns the Super Salmon brand, reported an ISA outbreak in a cage at the Garrao center in the Aysen region in early April and Chile's National Fisheries and Aquaculture Service reported an outbreak at a Multiexport Foods' farm in the same region. Te amount of ISAimpacted fsh is still fairly minimal. Multiexport's cage ATHENS of around 24,000 salmon represents 12 percent of the company's total Atlantic salmon and trout. Still, its shares dropped 12.47 percent on the news. Buyers worry that the ISA reports will increase. "It will defnitely impact us if it gets into a big epidemic, but it is not impacting us right now. Tere are plenty of [non-afected] fsh from other regions," says Dan Pryor, senior purchaser for wholesaler and retailer Santa Monica Seafood. At the same time, buyers and Chilean salmon suppliers are confdent in the measures CANBERRA, Australia Selonda-Dias merger creates world's largest bass farmer Athens-based aquaculture companies Selonda Aquaculture and Dias Aquaculture merged to create a group producing 40,000 metric tons of product worth up to €250 million ($321.7 million). New company Selonda Aquaculture S.A. will employ about 1,500 people as the world's largest sea bass and sea bream producer. Under the terms of the deal, Selonda's shareholders will exchange one share of Selonda at €1 ($1.29) with 0.696 new shares of the new company valued at €1. Dias' shareholders will exchange one share of Dias valued at €0.47 ($0.61) for 0.84 new shares of the new company valued at €1. Te new company's board of directors will consist of seven members, four proposed by Dias and three by Selonda. 12 Toothfish producers hail 'best choice' rating Te Monterey Bay Aquarium Seafood Watch program upgraded more than half of all Patagonian toothfsh (Chilean sea bass) fsheries from "avoid" to "best choice" or "good alternative." Toothfsh from Heard and McDonald Islands, the Falkland Islands and Macquarie Island is now a "best choice," while Ross Sea Antarctic, South Georgia and Kerguelen product is a "good alternative." Together, the fsheries represent more than 60 percent of the global toothfsh catch. Fish from Crozet Islands, Prince Edward and Marion Islands and Chile remain on the "avoid" list. Te Australian Fisheries Management Authority (AFMA) has welcomed the news. "AFMA has very strict regulations in place to ensure the fshery is sustainable," says SeaFood Business May 2013 Photo courtesy of Super Salmon ISA reappears in Chile farms that the Chilean government has put in place since the ISA epidemic three years ago. "We are confdent today that we have the necessary regulatory framework that allows us to face these new cases of ISA virus," according to a statement from Multiexport Foods. "Checks and balances are in place now, and they can keep it quarantined to a particular area," Pryor agrees. Executives at Multiexport Foods say that once ISA appears, it is "not possible to control and eradicate it, but you have to live with it, such as in Norway, where each year has averaged seven cases per year in the past fve years." Buyers report a drop in Atlantic salmon pricing over the past two weeks, but they attribute that to natural market correction after Lent. Average prices range from $4.50 (€3.43) to $5.25 (€4) a pound for 2- to 3-pound fllets. James Findlay, AFMA CEO. According to the Coalition of Legal Toothfsh Operators, there has been a 95 percent decline in illegal, unregulated and unreported catches in the past 15 years, thanks to a collaborative efort among industry, conservation groups and national governments. Cermaq on April 5, meaning its ofer is for the entire company. Te increase in the ofer price may cause the acquisition to exceed the $600 million (€457 million) originally approved by China Fishery's shareholders. Te new ofer had not been approved by mid April. Shareholders of 70.51 percent of China Fishery have given irrevocable undertakings to vote in favor of the move, as have shareholders of 54.9 percent of parent company Pacifc Andes. China Fishery controls 32.3 percent of Copeinca's shares and the ofer was extended to May 10. Purchase of the company would give its new owners control of the largest fshmeal company in Peru. China Fishery had already made an ofer to buy a controlling interest in the company's shares for $556 million (€427.3 million), but Copeinca rejected the offer. Te Cermaq ofer was for more than $800 million (€618.6 million). OSLO Cermaq, China Fishery duel for Copeinca Cermaq ASA acquired more than 50 percent of the shares in Peruvian fsh and fshmeal producer Copeinca, but at press time China Fishery Group replied with a matching takeover ofer. China Fishery increased its ofer price for the Peruvian fshmeal company from NOK 53.85 ($9.45, €7.19) to NOK 59.70 ($10.47, € 7.97), to match Cermaq's NOK 59.70 bid. China Fishery also extended its ofer to include the 11.7 million new Copeinca shares issued to For updated NEWS, go to www.SeafoodSource.com

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