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Krill investors lose billions
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by Simples | November 12, 2009 at 06:04 pm
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This week's 9 per cent decline in Aker Biomarine stock follows a devastating 12-month trend for the krill harvesting company.
Billions of Norwegian kroner have so far been lost for investors who had hoped to strike gold in harvesting krill of Antarctica as the situation has proven itself a financial disaster.
The stock exchange-listed Norwegian krill harvesting company Aker Biomarine ASA has been having problems assuring investors on the company's future. So far this year its shares have fallen by more than 27 per cent, with its numbers for the last 12-month period altogether plummeting by more than 70 per cent since 2 June last year. On Monday, the company stock fell by almost another 9 per cent.
The company management and board of directors have tried on many occasions to persuade the market that most situational factors are moving according to plan and that interest for their krill products remains high. The company has one ship in operation with another currently being remodified for Antarctic krill fishing. However, nothing seems to be placating the stock buyers on the Oslo Stock Exchange.
Usually it helps when insiders buy shares. On Friday, Aker Seafoods Holding AS, a wholly-owned subsidiary of Aker ASA, purchased 2,233,415 shares in Aker BioMarine ASA at a price of NOK 16.48 each. This raised their holdings in the company to 74,707,494 shares, or 82.9 per cent of the issued share capital.
Market observers believe the main shareholder may soon issue an offer on all outstanding shares and then de-list the company on the stock exchange.
(Photo: FIS)
fis.com/fis/worldnews/worldnews
Krill investors lose billions
ANTARCTICA
Wednesday, June 04, 2008, 00:50 (GMT + 9)
Related articles:
- WEEKEND FEATURE: Spectre of claiming war looms over Antarctic fish
- Billionaire developing eco-friendly trawl technology
- Super trawler converts to life science factory
- Krill fishery in Antarctica - a nightmare for investors
By Terje Engoe
www.fis.com
The ban on krill fishing covers federal waters located off the US west coast.
Environmentalist groups have lauded the decision for taking into account the ecosystem as a whole instead of ineffectually dividing it into species.
"It's proactive and precautionary taking action now before there is a crisis, rather than waiting for a big problem to occur and then having to deal with it," said Oceana spokesman Ben Enticknap.
The National Oceanic and Atmospheric Administration (NOAA) published a final rule in the Federal Register on 13 July that will prohibit the harvesting of krill in the Exclusive Economic Zone (EEZ) off California, Oregon and Washington coasts starting on 12 August.
“Krill are the foundation for a healthy marine ecosystem,” said Mark Helvey, NOAA’s National Marine Fisheries Service (NMFS) Southwest Assistant Regional Administrator for Sustainable Fisheries. “Protecting this vital food resource will help protect and maintain marine resources and put federal regulations in line with West-Coast states.”
These harvests have been used as part of farmed salmon feed, home aquariums and as a dietary supplement for human consumption. But scientists have noted that catching krill wreaks havoc on the food web and causes sea birds and other marine life to starve, The Associated Press reports.
The final rule is meant to preserve crucial food chains in the California Current ecosystem, which comprises five national marine sanctuaries (NMS). It will also help protect some animals listed as threatened or endangered under the Endangered Species Act who depend on krill for food.
(Photo: NOAA/FIS)
NOAA bans krill fishing
UNITED STATES
Wednesday, July 15, 2009, 23:50 (GMT + 9)
Source:
NOAA bans krill fishing
fis.com/fis/worldnews/worldnews
Related article:
- Struggling Aker BioMarine introduces bestselling supplement
By Natalia Real
www.fis.com
Norwegians have taken strongly to Superba Krill Oil since its release last month.
Biotechnology company Aker BioMarine posted weak results for 2008 but expressed optimism over the future of its recently launched product Superba Krill Oil.
The dietary supplement was the best-selling omega-3 product in health food stores in Norway in January of this year, only a month after its introduction.
Last year's financial results for Aker BioMarine show a company in a phase of low revenues and high expenses due to high investments in product development, research, and marketing. At the end of 2008, Aker BioMarine had an equity ratio of 26 per cent, and cash equivalents of NOK 220 million (EUR 25 million).
Aker BioMarine's operating revenues for 2008 were NOK 85 million (EUR 9.7 million) while its EBITDA was negative NOK 152 million (EUR 17.4 million). In comparison, in 2007 it reported operating revenues of NOK 75 million (EUR 8.6 million) and a negative EBITDA of NOK 96 million (EUR 11 million).
(Photo: Aker BioMarine)
Struggling Aker BioMarine introduces bestselling supplement
NORWAY
Tuesday, February 17, 2009, 01:50 (GMT + 9)
Source:
fis.com/fis/worldnews/worldnews
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By E. Fiske
www.fis.com
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at 18:13 on November 12th, 2009
Norwegians have taken strongly to Superba Krill Oil since its release last month. (Photo: Aker BioMarine)
Struggling Aker BioMarine introduces bestselling supplement
NORWAY
Tuesday, February 17, 2009, 01:50 (GMT + 9)
Biotechnology company Aker BioMarine posted weak results for 2008 but expressed optimism over the future of its recently launched product Superba Krill Oil.
The dietary supplement was the best-selling omega-3 product in health food stores in Norway in January of this year, only a month after its introduction.
Last year's financial results for Aker BioMarine show a company in a phase of low revenues and high expenses due to high investments in product development, research, and marketing. At the end of 2008, Aker BioMarine had an equity ratio of 26 per cent, and cash equivalents of NOK 220 million (EUR 25 million).
Aker BioMarine's operating revenues for 2008 were NOK 85 million (EUR 9.7 million) while its EBITDA was negative NOK 152 million (EUR 17.4 million). In comparison, in 2007 it reported operating revenues of NOK 75 million (EUR 8.6 million) and a negative EBITDA of NOK 96 million (EUR 11 million).
Most of the revenue in 2008 came from sales of krill meal to the aquaculture industry, under the brand name Qrill.
In the fourth quarter of 2008, operating revenues were NOK 18 million (EUR 2.1 million) and EBITDA was negative NOK 54 million (EUR 6.2 million). In 2007, those figures were NOK 21 million (EUR 2.4 million) and negative NOK 55 million (EUR 6.3 million), respectively.
Fourth quarter figures are strongly affected by the fact that krill is not harvested in October, November, and December.
Aker BioMarine has recently restructured the company’s operations. In the fourth quarter of last year, divested assets left the company with NOK 1.2 billion (EUR 137 million) in freed capital.
The company has decided to invest that money in health products like Superba Krill Oil.
"The divestments highlight that Aker BioMarine in the future will focus strongly on sustainable krill harvesting and production of health-promoting products," said current chief executive officer of Aker BioMarine Kjell Inge Rokke.
Superba Krill Oil was launched in Norway in late December 2008. By January the product was the best-selling omega-three product in Norwegian health food stores.
"It has been a long time since the last time someone introduced a genuine innovation in this segment, and it is therefore exciting to see Superba Krill being given such a warm welcome by the consumers," said Gunn Elisabeth Feidje Arnesen, of the healthcare retail chain Life.
Clinical studies by the company indicate that the human body had better uptake of Superba Krill Oil compared to fish oil. Final results are expected this spring.
Related articles:
- Fishmeal firms suffer blackest day on Oslo Exchange
- Krill investors lose billions
By E. Fiske
editorial@fis.com
www.fis.com
at 18:38 on November 12th, 2009
This week's 9 per cent decline in Aker Biomarine stock follows a devastating 12-month trend for the krill harvesting company. (Photo: FIS)
Krill investors lose billions
ANTARCTICA
Wednesday, June 04, 2008, 00:50 (GMT + 9)
Billions of Norwegian kroner have so far been lost for investors who had hoped to strike gold in harvesting krill of Antarctica as the situation has proven itself a financial disaster.
The stock exchange-listed Norwegian krill harvesting company Aker Biomarine ASA has been having problems assuring investors on the company's future. So far this year its shares have fallen by more than 27 per cent, with its numbers for the last 12-month period altogether plummeting by more than 70 per cent since 2 June last year. On Monday, the company stock fell by almost another 9 per cent.
The company management and board of directors have tried on many occasions to persuade the market that most situational factors are moving according to plan and that interest for their krill products remains high. The company has one ship in operation with another currently being remodified for Antarctic krill fishing. However, nothing seems to be placating the stock buyers on the Oslo Stock Exchange.
Usually it helps when insiders buy shares. On Friday, Aker Seafoods Holding AS, a wholly-owned subsidiary of Aker ASA, purchased 2,233,415 shares in Aker BioMarine ASA at a price of NOK 16.48 each. This raised their holdings in the company to 74,707,494 shares, or 82.9 per cent of the issued share capital.
Market observers believe the main shareholder may soon issue an offer on all outstanding shares and then de-list the company on the stock exchange.
Related articles:
- WEEKEND FEATURE: Spectre of claiming war looms over Antarctic fish
- Billionaire developing eco-friendly trawl technology
- Super trawler converts to life science factory
- Krill fishery in Antarctica - a nightmare for investors
By Terje Engoe
editorial@fis.com
www.fis.com
at 02:00 on November 13th, 2009
"Market observers believe the main shareholder may soon issue an offer on all outstanding shares and then de-list the company on the stock exchange." They shouldn't have gone for listing at all. This kind of novice experiments carry a lot of performance risk, which in the end will become under control, but meanwhile investors have lost confidence and a lot of money. Omega 3 is indeed the best supplement to protect people against heart deceases it lowers the bad cholesterol and improves the good HDL cholesterol. Meanwhile Danol and Benacol do have good bio supplements to lower the bad LDL cholesterol. Remarkably successful and scientific proven being effective.
at 10:27 on November 13th, 2009
The heads of shrimp and other parts of the shell are rich in oxidising enzymes and lipases. (Photo: Stock File)
Shrimp discards purify blackwater
BRAZIL
Saturday, November 14, 2009, 01:50 (GMT + 9)
A team of scientists at the University of South Santa Catarina (Unisul) have discovered that shrimp heads, which are normally discarded by consumers, have large numbers of efficient enzimes to treat blackwater and industrial waste.
According to the experts of the Group of the Investigation of Enzymatic Catalysis and Organic Synthesis of Unisul, these enzymes are capable of absorbing the toxic substances in contaminated water.
The investigators verified that the shrimp heads and other parts of the shell are rich in oxidising enzymes and lipases, which can be used as an alternative to degrade contaminants in domestic and industrial blackwater, reports Ciencia Hoje.
According to the scientists, almost half of each kilogram of shrimp goes unconsumed.
“The study was born out of a necessity to find less costly and more efficient alternatives to remove toxic substances from contaminated water,” says Jair Juarez, one of the leaders of the project.
“Current methods have great disadvantages, such as high cost, poor efficiency and the creation of by-products, which are sometimes more harmful than the original substances,” said the Unisul chemist.
After this discovery, the scientists proposed developing a biological filter, which could be used to degrade toxic material in the environment.
This filter could absorb different toxic substances with ease in areas with contaminated water or in industrial treatment plants.
“The characteristics of the new enzymes will allow the development of more efficient and smaller treatment plants than at present, thanks to the vastly improved speed of the degradation of the of the contaminates,” said Juarez.
By Analia Murias
editorial@fis.com
www.fis.com
at 08:57 on November 16th, 2009
King & Prince Seafood New Executive Appointed
(UNITED STATES, 11/17/2009)
John Flood, Senior Vice President Sales & Marketing at King & Prince Seafood has announced the appointment of Jeff Crowley to the newly created position of Vice President/General Manager, Enterprise Management-North America.
In this capacity, Crowley will oversee the implementation of the company's vision and growth strategy within the Enterprise Management Group with functional leadership responsibilities for the Sales, Customer Service and Trade Marketing teams.
"We are excited to have Jeff on board," said Flood, "His previous experience leading teams at Sara Lee and most recently with Lettieri's, a portfolio company of Allied Capital, has been focused on establishing go-to-market strategies and organizational alignment structures designed to drive efficiency throughout the entire supply chain." Flood added, "these attributes are a great fit as we further position King & Prince as a category leader in seafood and leverage the overall strength of our parent company and the overall Nissui Global Links network. Ultimately, our partners - customers and brokers will benefit...better positioning all of us to win!""
King & Prince's Enterprise Management Group assures alignment and allocation of the company resources directly to their broker partners. The primary objective of the group is to deliver to the distributor and operator community the right products and solutions to drive growth.
About King & Prince Seafood
As North America's leading supplier of value-added seafood to the foodservice industry, King & Prince® and its line of high quality Mrs. Friday's® branded products is dedicated to helping customers develop profitable businesses through higher quality, great tasting, value-added seafood portfolio of products.
To watch a Video, please click here
For over five decades, King & Prince Seafood has built a reputation for great seafood. The company partners with fishermen, farmers and packers to ensure only superior quality seafood arrive at their processing facilities.
Their own quality control team travels the world, checking the seafood at the source to ensure the company’s stringent handling procedures are being followed precisely. Coatings are carefully selected and designed to enhance the seafood’s natural flavor and texture to achieve the absolute best in guest satisfaction.
More about:
Phone: +1 912 261-7008
Fax: +1 912 264-8423
E-Mail: marketing@kpseafood.com
Source:
fis.com/fis/techno/newtechno.asp?id=34496&l=e&ndb=1
>>>>>>>>>>>>>
at 09:16 on November 16th, 2009
Thousands of Octopus maya eggs are expected to spawn in the coming weeks. (Photo: UMDI-Sisal)
Researchers eagerly await spawn of octopus eggs
MEXICO
Tuesday, November 17, 2009, 01:50 (GMT + 9)
Experimental farm researchers of the Multidisciplinary Teaching and Research Unit at the National Autonomous University of Mexico's (UNAM) School of Sciences, in the port of Sisal, anticipate the spawn of 20,000 eggs of Maya red octopus (Octopus maya) in the coming weeks.
Three years after the birth of 'Octavio,' the first octopod bred in that hatchery, researchers await the arrival of 20,000 new octopus in the first and only farm of its kind in the world, indicates a report released by the Yucatan Produce Foundation.
Soon a new stage of the project will begin next year, which consists of the installation of a commercial farm of Mayan octopus in the facility.
Experts hope to avail themselves of the resource from economic, social and scientific aspects, and to contribute important advances to the world of science.
The entrails of octopus, for example, can be used in bird feed manufacture because of their high protein content, and the enzymes derived from the mollusc’s liver are used in the industrial manufacture of skin-care creams.
According to the person in charge of the project, Carlos Pink Vazquez, the octopus is “a wonder of nature.”
A cephalopod production system was developed on the farm that was able to obtain 85,000 units in 36 months.
“That type of research is long term, as the shrimp alone took 30 years in demonstrating that it can be exploited successfully in farms,” the expert explained.
In other places around the world, initiatives similar to the Mexican were taken on.
“The government of Spain allocated EUR 10 million to a project similar to ours, which in its first year could only reproduce 20 octopus and due to the results, far from cancelling it, authorised a new budget of EUR 5 million to continue those studies for five years more,” Rosas Vazquez explained.
Some 5,827 tonnes of Octopus maya were landed in Yucatan, compared to 1,498 tonnes in the same period last year, Secretariat of Agriculture, Livestock, Rural Development, Fishery and Food (SAGARPA) data reveals.
Related information:
- SQUID/OCTOPUS MARKET REPORT, 11 November
By Analia Murias
editorial@fis.com
www.fis.com
Source:
fis.com/fis/worldnews/worldnews.asp?l=e&country=0&...
at 19:36 on November 17th, 2009
Knowledge of the Antarctic ecosystem is still very limited, but what is known is that krill is a key species. (Photo: IMR/CCMLR)
WEEKEND FEATURE: Spectre of claiming war looms over Antarctic fish
ANTARCTICA
Friday, February 01, 2008, 23:50 (GMT + 9)
It had always been technically difficult to harvest the abundant valuable krill known to populate the ocean waters around Antartica and preserve their quality in the process. In recently breaking in a new trawling technology, however, Norwegian company Aker Biomarine ASA has made the feat suddenly possible.
The harvesting of Patagonian toothfish, in turn, has gone on for many years. A slow-growing, deepwater species, the fish is not expected to ever develop into a lucrative fishery for vessels other than the few permitted to participate. After all, other fish stocks and marine life resources are known to concentrate in the waters of the Antarctic, ready for the commercial taking. Little of the potential of these stocks, however, has been scientifically studied and documented - until now.
The state-of-the-art marine research vessel G. O. Sars from Norway is right now undertaking an extensive research cruise of Antarctica's marine resources.
G.O. Sars anchored in the bay just outside Port Stanley, Falkland Islands. (Photo: Institute of Marine Research)
In recent days, the Norwegian Prime Minister Jens Stoltenberg also visited Antarctica, although little was officially said of its marine resources. Both of these events should be seen as subtle, tell-tale signs that Norway is rushing to build a solid case for rights to the Antarctic resource.
Only four Norwegian vessels are currently licenced to fish for krill in Antarctic waters; only one of these is operative, the others are being rehauled for the activity. It is clear that the Scandinavian country is picking up where it had left off when the Antarctic whaling era came to an end, and is now eyeing other resources. One Norwegian longliner, the Frøyanes, had in recent years made a tidy profit fishing Patagonian toothfish. After topping the Norwegian quota for the fish recently, a UK company contracted it to fish a British quota in South Georgia, in addition to its own cod and haddock quota in the Barents Sea.
Although Norway keeps a toothfish quota in the Ross Sea, it does not keep any kind of quota in South Georgia. However, in view of the higher presence of Norwegian researchers and vessels in Antarctica of late, only the very naive will be caught off-guard if and when Norway issues a sudden call for a larger share of TAC pertaining to any, several, or all Antarctic species.
Mackerel icefish (Champsocephalus gunnari) caught by the G.O. Sars during the ongoing research cruise. (Photo: Institute of Marine Research)
Norway is but one of the countries claiming a significant tract of Antarctica. For years the strength of its claim fell by the wayside as the Japanese and Russians actively harvested for krill, and the Argentines, Chileans, Uruguayans and other nationalities partook in the lion's share of the toothfish fishery.
The tide has changed, however. The country's recent encroachments into the globe's southernmost waters strongly signals a new approach.
The Marine Research Institute of Bergen, Norway explained the reasons behind the ongoing research excursion:
“The Convention on the Conservation of Antarctic Marine Living Resources (CCAMLR) is responsible for the management of marine resources in the Southern Ocean. Our knowledge of the ecosystem in this part of the sea is currently very limited. However, we do know that krill are a key species in the ecosystem, and that the annual catch quota of 4 million tonnes of krill set by the CCAMLR is intended to ensure that this fishery will in no way compete with other species that depend on krill.
A krill photographed in the laboratory of the G.O. Sars. (Photo: Institute of Marine Research)
"CCAMLR intends to allocate krill fisheries in parts of the Southern Ocean where their predators do not graze. However, before we can do so, we require much more knowledge about the ecosystem, the krill itself and the species that live off it. While we wait for such knowledge to be collected, an 'effort limit' of 620,000 tonnes has been set, which is to say that until we possess more knowledge, fishing will be stopped when this limit has been reached.
"This is why the Institute of Marine Research has taken the initiative of sending the R/V G.O. Sars to study the Antarctic ecosystem. The pelagic resources around the Norwegian Bouvet Island have never been investigated, and in winter 2008, the Institute will carry out its first studies of physical conditions, marine resources, including krill, and the pelagic resources of this region.”
G.O. Sars crewmember Dag Nielsen searching for fish amid the krill. (Photo: Institute of Marine Research)
The continent and its surrounding marine resources are quickly turning into a much-desired, hot spot. Not only have companies begun to vie for a cut of the Antarctic's valuable resources, governments too have secretly begun to draw up plans, anticipate each other's moves, and tighten up their claims. At stake is the right to harvest krill and other lucrative bounty of the last unexplored continent.
FIS.com had earlier focused on a recent krill harvesting cooperative deal struck between Dutch and Norwegian companies. To recap, only four krill fishing licences were issued to Norwegian vessels, leaving several companies with high expectations and hopeful business plans out in the cold. A successful push and a call for licences issued from other countries may arise as Norway's Antarctic activities raise enough eyebrows to warrant a mad rush to lay or solidify claims to fishing rights, whether historically-founded or not. Still, little is actually known about the resource. When the G.O. Sars finally returns to Norway from its long November 2007 to March 2008 research cruise in the Antarctic, it might bring with it information of a calibre to trigger a claiming war.
Related articles:
- No licence to krill trawl creates new partnerships
- Super trawler converts to life science factory
- Giant 132-meter trawler to target krill
- Antarctic krill race continues with four krill licences issued
By Terje Engoe
www.fis.com