Fri. Feb 21 2025

Indonesia's Blue Swimming Crab Exports in Jeopardy Amid Stricter Currency Controls


Canada Sees 582% Sales Increase for MSC Labeled Tuna


Russia’s Kamchatka Krai Experiences Serious Problems with Salmon Stock, Catch


Seafood Expo North America Announces 2025 Conference Program


Blumar, Multi X, and Camanchaca Join S&P Global’s Sustainability Yearbook 2025


Lineage and Port of New Orleans Expand Import Inspection Services


Seafoodnews.com Summary Friday, February 21


Thu. Feb 20 2025

ANALYSIS: 2024 Frozen Tuna Fillet Imports Reach Second Highest Levels on Record


Japan's 2024 Salmon and Trout Imports Increased 8%, Driven by 20% Increase in Frozen Coho


SeaPak Debuts New Cajun-Style Shrimp Product


Interstate Warehousing Announces Expansion of Arizona Cold Storage Facility


Landmark California Agreement Focuses on Removing Eel River Dams


Yumbah Aquaculture Active on the M&A Front Again; Eyeing Merger with Clean Seas Seafood


Science Center for Marine Fisheries Announces $277,857 in Research Funding for 2025


Sustainable Fisheries Partnership, Hilborn Lab Launch Latest FIP Database Update


FDA Expands Oyster Advisory for Louisiana Area 3


Seafoodnews.com Summary Thursday, February 20


Wed. Feb 19 2025

Indonesia’s New Export Policy Poses Challenges for Seafood Industry


Senate Confirms Lutnick as Commerce Secretary


Maine Department of Marine Resources Commissioner Patrick Keliher to Retire


The Retail Rundown: Cold Weather Influences Demand


Alaska Salmon Fishery Meets MSC Requirements Following Hatchery Audit


Russia's Shortage of Dockage Facilities May Lead to Decline of Fish Catch


Okamura Foods to Triple Trout Farming by 2030 with JPY 19 Billion Investment


New England Council Seeks Input on Scallop Strategic Plan Via Visioning Sessions


Seafoodnews.com Summary Wednesday, February 19


Tue. Feb 18 2025

ANALYSIS: Diving into Tuna Landings, Price Trends in the Eastern Pacific Ocean for 2024-2025


Over 21 Million Pounds of Alaska Pollock Among USDA’s Latest Seafood Purchase Requests


Mowi Purchases Uninhabited Scottish Island to Establish New Salmon Farm and Kickstart Local Tourism


ANALYSIS: Fresh Atlantic Halibut Market Rises with Seasonal Demand and Trade Uncertainty


ANALYSIS: Norway Brings Stability to the Cold-water Shrimp Market


Russia Plans to Accelerate 2025 Fish Catch in the African Region


Nordic Aqua Resumes Sale of Atlantic Salmon at Facility in Ningbo, China


SalMar Reports Satisfactory Q4 Results, Shares Acquisition Plans


Thai Union Reports $4.1 Billion in 2024 Sales, Net Profit Up 7.2%


Kibun Foods Enters the Fish Sausage Market; First Joint Development with Maruha Nichiro


Cousins Maine Lobster Opens New Location in Springfield-Peoria, IL


US Foods Reports Strong Fourth-Quarter and Fiscal Year 2024 Results


Seafoodnews.com Summary Tuesday, February 18


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Pacific Andes Moves to End China Fishery Liquidation with Sale of Peru Operations for $1.7 Bln

SEAFOODNEWS.COM  by John Sackton  January 4, 2016

On Dec. 31st Pacific Andes announced several moves to reverse the liquidation order for China Fishery Group, which is currently under court supervision in Hong Kong and Cayman Islands.

PAH (Pacific Andes Holdings) said they had two non-binding offers from different purchasers to buy China Fishery and its Peruvian assets for $1.7 billion.  Pacific Andes and China Fishery’s largest asset in Peru is Copeinca, the country’s largest fishmeal producer, which Pacific Andes purchased in 2014 for $800 million.

On the strength of these discussions, PAH has agreed with a majority of its bank creditors to a new transaction.

PAH has issued a deed in favor of three of the bank lenders which constitute a majority of its debt holders under its loan that is now in default.  In return, the majority of bank creditors will support the removal of the provisional liquidators at a Hong Kong court hearing, and the dismissal of the winding up petition in Hong Kong.  They will also ask for the dismissal of the winding up provision in the Cayman Islands as well.

In return, the lenders get...

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