Norway-based seafood trader Seaborn saw its operating profit fall by 33 percent in 2020 to NOK 50.7 million (€5 million/$5.9 million), amid a challenging year brought about by the global COVID-19 pandemic.

In 2020, Seaborn's turnover remained relatively unchanged at NOK 5.7 billion (€558.8 million/$663.3 million), but its profit was hit hard.

"We have been in a pandemic that has given challenges, but Seaborn has mastered it well," Frank Yri, commercial director of the company, told IntraFish.

"The ongoing pandemic has meant that several of our customers have reduced the demand for our products," said Yri. "This is especially true for the cruise industry. At the same time, we have experienced increasing demand from the retail market, which has largely compensated for the decline in demand from other customer segments."

Yri says that prices fell during the year, but that volume increased.

Seaborn has a target of reaching sales of 100,000 metric tons this year, which is in reach, according to Yri. "We have new markets, and the old markets are on their way back," he said.

Seaborn, a seafood trader company, is owned predominantly by salmon farmers.

Alex Vassbotten, chairman of the company, is also the largest owner through Bru Eigedom, which owns 25 percent of the company. Frank Yri's company, Yri Invest, is the second largest shareholder with 18.8 percent.

Salmon farmers on the shareholder list include Osland Havbruk, Salmonor, Eidsfjord Sjofarm and Drageid Laks.