Happy Monday -- Let's quickly get your week started off right with a round-up of a big, big week of seafood news.
First, Skretting, the world's largest supplier of feed to the salmon farming industry, will construct a feed plant for land-based salmon in Florida to serve Atlantic Sapphire. Here's why that is such a big deal.
The seafood industry's logistics nightmare continues as several major ports in the United States are overrun with containers and anchored containerships. Here's what that means.
Insurers are getting a bit more ready to take on the risk of shipping seafood -- at a cost. Here's a look inside the complex sector.
More potential shipping trouble is coming from China as the port city of Dalian becomes the epicenter of that country's latest outbreak.
Speaking of logistics -- the global supply disruption was behind the decision of one prominent wild whitefish CEO's move into salmon farming.
It's always fun to look back on companies' grand plans, and sometimes they aren't so grand. Young's Seafood, which in 2018 was planning a British invasion, has lost its anchor customer, retail giant Walmart. The future doesn't look bright for its US plans.
The CEO of rival New England Seafood International had some thoughts on why the company didn't succeed.
However, it's better times for the UK foodservice sector. One of the top seafood distributors gave us a picture of the latest.
Peru dropped the anchovy quota for the second season of 2021 in north central waters by 26 percent -- signs of higher feed prices to come.
It will take a toll in particular on companies such as Biomar, which reported that global increases in raw material prices, logistic costs and energy prices hit its third quarter hard.
The plant-based debate was in the news again, with National Fisheries Institute President John Connelly firing an amusing volley.
Whitefish giant Russian Fishery Company inked a long-term agreement with a Nippon Suisan Kaisha (Nissui) affiliate. It's their latest attack on American surimi dominance.
Sure, antibiotic usage in Chile's farmed salmon industry is down. But here's a look at how the major companies are actually doing, which tells a different story.
Norwegian salmon prices are moving higher, bucking the recent softening trend.
Earnings season
There was a flood of third quarter numbers for our team to keep up with.
Thai Union, one of the world's biggest seafood companies, posted stagnant earnings in the third quarter as the shelf-stable food segment normalized and supply chain disruptions raised costs.
Mowi, the world's largest salmon farmer, smashed revenue records in the third quarter, with earnings also showing a healthy boost. Here's what's behind the numbers.
Bakkafrost -- usually the easy earnings leader -- stumbled this time as its Scottish operations struggled. The company has a "game changer" of a plan, though. Read about it here.
Leroy Seafood Group, which has both farmed salmon and wild whitefish in its portfolio, reported record-breaking revenues but disappointing earnings.
Chilean salmon farmer Camanchaca moved out of the red, helped predominantly by soaring fish prices.
After the dust settled, analysts are starting to make their picks. Nordea thinks this is the best salmon farming company to bet on.
Latest in M&As:
Vitaly Orlov's Norebo Holding confirmed it is one of the front-runners to buy a major Russian harvesting group.
And finally, the top executive at the Bristol Bay Economic Development Corporation (BBEDC), which holds stakes in Ocean Beauty and Alaska pollock and crab harvesting groups, stepped down.
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Have a great week ahead.
