Nueva Pescanova Group Eyeing $80 Million Capital Increase, Now on Path to Recovery

Spanish seafood giant Nueva Pescanova Group said that the strategic and operational measures adopted by its new leadership reversed the negative path the company traveled down for the past two years. The reversal now has the company believing that it is on the path to recovery.

The operational efficiencies implemented have led to an increase in margins, which has generated an EBITDA* of 18.1 million euros ($20.08 million USD), which is almost double (185%) the EBITDA of the entire previous year (9.8 million), per Nueva...

Indonesian NGOs Accuse Retailers of Perpetuating Forced Labor in Shrimp Sector

A report from a trio of Indonesia-based non-profit organizations found that labor and human rights violations occurred within Indonesia’s shrimp sector.

The NGOs claim that the violations are linked directly to supermarket pricing in the U.S., the United Kingdom, and Europe. The groups, Agitaka Centre for Social Analysis, Institute for Policy Research and Advocacy (ELSAM), and Migunani Research Institute, allege that because retailers pay less for shrimp than it costs to farm, they then raise prices for consumers, eliminating potential price recovery...

Court Dismisses Sea Shepherd Case Against NMFS on New Zealand’s Maui Dolphin

Yesterday the U.S. Court of International Trade in New York City dismissed a four-year effort to protect the diminishing Māui dolphin population using a series of trade restrictions. The Māui dolphin is found only off the west coast of New Zealand’s North Island. 

In 2019 the Scientific Committee of the International Whaling Commission estimated that only 57 Māui dolphins remained, from approximately 2,000 in 1971. The marine mammals were often the victim of bycatch in set nets along the northwest coast.

Sea Shepherd New Zealand and ...

Quebec Invests $6 Million to Train Workers in Maritime Fisheries Sector

Minister of Employment and Minister responsible for the Côte-Nord region, Kateri Champagne Jourdain, and MNA for Gaspé, Stéphane Sainte-Croix , are announcing an investment of more than $6 million to train up to 500 workers in the fishing and marine product processing sectors in Eastern Quebec.

Training to adapt to new realities

This 315-hour classroom training course promotes learning related to real-world work situations. Workers will be able to enhance their skills to adapt to the new realities of the industry, particularly those related...

The Boiling Crab Partners With NPCF and RIF LA In Support of Childhood Cancer Awareness Month

In honor of Childhood Cancer Awareness Month, The Boiling Crab®, renowned for its authentic Louisiana-style Cajun seafood boils, is excited to announce a new partnership with The National Pediatric Cancer Foundation® (NPCF) and RIF Los Angeles. From September 16 to October 13, 2024, The Boiling Crab will contribute a portion of the proceeds from all boiled shrimp and crawfish sales—whether in-store or through online orders via Postmates—to support the National Pediatric Cancer Foundation's mission to end childhood cancer...

ANALYSIS: Cold-water Shrimp Face Global Trade Slowdown

Cold-water shrimp, also called Pandalus Borealis, is a wild shrimp species caught in North Atlantic and Arctic waters. Most of the time, it is purchased already cooked by mainly Scandinavian, British, and Chinese consumers. According to census data, this species represents 6.6% of the shrimp volume traded globally in 2023. However, figures for the first half of this year show a significant decline in global exports, which could indicate some tension for this type of shrimp in 2024...

North American Bluefin Tuna Prices Rise at Toyosu Market in August

According to a Jiji Press survey, the number of imported tuna arriving at the fresh tuna section of Tokyo's Toyosu Market in August was 3,077, down 3.5% from the same month last year. The number of bigeye tuna increased, but the number of wild bluefin and southern bluefin tuna decreased, as reported by Minato Shimbun.

The total number of bluefin tuna was 381, down about 16% from the same month last year. The main product, Canadian tuna, increased to 211 (167 in the same month last year)...

Netflix Drama Featuring the Norwegian Salmon Industry ‘Billionaire Island’ Makes Debut

Could salmon farming and aquaculture become Netflix’s next big hit?

The Norwegian salmon industry will serve as the backdrop for Netflix’s latest original series, “Billionaire Island,” which debuted on September 12 to worldwide audiences.

According to the streaming giant, the Norwegian dramedy will depict Norway’s fish farming industry and was shot on the island of Frøya, Trøndelag.

The Wall Street Journal reviewed the series and indicated that it resembles popular dysfunctional family dramas like Succession and The Borgias. However, instead of fighting over media empires like the Roy...

This Week in Retail: Rising Feature Volume for Roasts

This month marks an ideal blend of seasons for the retail sector, as grilling cuts continue to be featured along with autumn favorites like hearty roasts and everything pumpkin. The shift to cooler weather is already being reflected in increased promotions for pork and beef roasts, which have earned a larger share of circular ad space this week. 

In the beef category, roasts now account for 26.4 percent of total ad space, up from 17 percent the previous week. Steak promotions eased to 36.9 percent, a nearly 10-point decline from...

Seafood on Full Display During Outback Steakhouse’s Great Barrier Eats Promo

Outback Steakhouse announced its entrance into the value-menu arena that is occurring throughout the restaurant industry with its Great Barrier Eats limited-time menu.

The seafood-centric menu was inspired by the Great Barrier Reef, one of the seven natural wonders of the world and an Australian landmark. It showcases the chain’s shrimp and scallops.

The new menu features:

- Twin Reefs Shrimp: Dive into deliciousness with crispy breaded shrimp paired with buttery garlic shrimp scampi and a side. Starts at just $14.99...

Japan: Frozen Cod Imports Recover; Russia Totals Double in January-July, Dip from U.S.

According to trade statistics from the Ministry of Finance, the average price for frozen cod imports from January to July was 623 yen/kg ($4.38/kg), 2% lower than the same period last year, while the volume recovered to 2,102 tons, a 52% increase. Imports from Russia saw a 5% decrease in price to 597 yen/kg ($4.20/kg) and a 2.1-fold increase in volume to 1,635 tons. Imports from the United States saw an 11% increase...

Chinese Consumers Get a Taste of Norwegian Seafood Alongside Prime Minister

Norwegian Prime Minister Jonas Gahr Støre attended an event where Chinese consumers got a taste of the country’s seafood. Norway is working to solidify one of its key markets.

“The people of China appreciate good fish and seafood. China is Norway’s second most important market for Norwegian seafood after the EU. It was wonderful to see how much the Chinese customers enjoyed the seafood that was being served,” said Prime Minister Støre...

Mason's Famous Lobster Rolls to Open New Location at Rio Lakefront, Gaithersburg

Mason's Famous Lobster Rolls®, known for its authentic Maine-sourced seafood and entrepreneur-friendly business model, is thrilled to announce the opening of its newest location at Rio Lakefront in Gaithersburg. This location will be operated by Sandra Cooper, a local entrepreneur who embodies the spirit of perseverance and community.

Sandra Cooper's entrepreneurial journey is a story of resilience. Originally from Indiana, Sandra moved to Baltimore as a teenager to create a better life. Over the years, she overcame numerous challenges, building a successful career...

Airport Workers Begin Strike at Santiago Airport Ahead of Chilean Holiday 

The union representing airport workers at Santiago Airport, the largest airport in Chile, announced that workers began a strike on September 12 after negotiations between the union and Nuevo Pudahuel, the company that runs the airport, fell apart.

Nuevo Pudahuel said in a statement that it has an agreement to ensure that operations continue without impacting “the experience of passengers and users of the Santiago Airport.”

The strike began just ahead of the Fiestas Patrias holiday in Chile and could linger throughout the holiday...

Russia to Continue Fishing in Baltic Sea Despite Protests of Baltic States

Russia will continue fishing in the Baltic Sea despite protests from the Baltic states of Estonia, Latvia, Lithuania, as well as Sweden, according to recent statements made by the head of the Russian Federal Agency of Fisheries (Rosrybolovstvo) Ilya Shestakov.

According to Shestakov, all the protests and claims are unfounded.

In July, some European media reported that Estonia, Latvia, Lithuania and Sweden complained to the Council of the European Union (EU) and the European Commission (EC) that Russia continues to fish for cod, herring and sprat in the...

Toast Unveils Restaurant Trends Report; Costs for Lunch Up, QSR Breakfast Spending Shifts

Toast, a digital platform for restaurants, unveiled its Q2 2024 Restaurant Trends report. The report highlights the state of the industry via aggregated data from a group of selected restaurants in U.S. cities on its platform.

During Q2 2024, Toast found that consumers paid higher prices at quickservice restaurants (QSR). Guests shelled out an average of $11.26 for sandwiches and wraps (+4.6% YOY), $12.98 (+4.6%) for bowls, $11.45 (+4.6% YOY) for burgers, $11.42...

ANALYSIS: Frozen Mahi Update as New C&SA Season Nears; Market Prices at 52-Week Lows

We are just a few weeks away from the onset of the 2024-2025 mahi fishing season in Central and South America. Fishing operations are scheduled to start this fall, but historically, the new season's supply typically does not reach the market until the first quarter of 2025. In preparation, stakeholders are crafting strategies to effectively manage their current inventories, ensuring that they can meet existing commitments and potential new orders amidst a backdrop of subdued buyer interest that has defined the seafood landscape...