Captain Fresh Selects Bankers Amid Prep for 2025 IPO

B2B seafood firm Captain Fresh has tapped Axis Capital and Bank of America as its bankers for its planned initial public offering in 2025, according to Moneycontrol.

The publication said that the company is looking to raise between $350-400 million, with half of that being a fresh issue of shares with the remaining as an offer for sale (OFS) component, according to individuals aware of the situation.

Captain Fresh has been acquiring various firms in the seafood space as it looks to grow its presence in the sector...

Bristol Bay Red King Crab Harvest “Very Good” Says Fleet

Unalaska's KUCB Radio reported yesterday that landings of Bristol Bay Red King Crab (BBRKC) have reached about 680,000 lbs as of yesterday afternoon, and average weights and catch rates are up from last year.

“Fishing has been very good for the [Bristol Bay red king crab] fleet this season and the crab delivered so far has been of high quality — new shell, large size, good meat-fill,” Ethan Nichols, Alaska Department of Fish and Game Area Management Biologist, told KUCB reporter Maggie Nelson.

As of Wednesday afternoon, about 29% of ...

WCPO Skipjack and North Pacific Albacore Tuna Fisheries Achieve Major Sustainability Milestones

The Marine Stewardship Council (MSC) said that two key tuna fisheries, the Western Central Pacific Ocean (WCPO) skipjack and North Pacific albacore, achieved a major milestone by implementing “rigorous harvest strategies that ensure the long-term health of these tuna stocks.”

After the fisheries implemented a harvest strategy in December 2023 and the discussions that followed between Conformity Assessment Bodies (CABs) in August, WCPO skipjack, the world’s biggest tuna fishery, has now addressed all associated conditions required for certification to the MSC Fisheries Standard...

Last Year the North Atlantic Right Whale Population Increased to 372. Then 2024 Happened.

Yesterday, the National Oceanic and Atmospheric Administration (NOAA) released the updated population abundance estimate for North Atlantic right whales as of November 2023. At that time, there were approximately 372 animals alive in the world, up from the 2022 population estimate of 356. The newly released estimate for 2023 included 12 calves of the year.

The species is still endangered, experiencing an ongoing Unusual Mortality Event, that began in 2017 and is marked by gear entanglements and vessel strikes as being the most frequent causes of...

Finnish Aquaculture Firm Lands Investment from Mitsubishi Corporation

Finnforel, a Finnish aquaculture company, accepted an investment from Mitsubishi Corporation (MC) to accelerate the expansion of its land-based projects globally.

Finnforel will develop its rainbow trout farming through this investment. The company said it is a suitable cold-water species for Recirculating Aquaculture Systems (RAS).

Pekka A. Viljakainen, Co-Founder and Chief Executive Officer of Finnforel Group, said: “Finnforel’s mission is to save the seas and feed the planet. This huge mission requires strategic partners and shareholders, with whom we can deploy our technological and operational...

Red Lobster Adds to Exec Team with New Chief Marketing Officer

Red Lobster announced the appointment of Nichole Robillard as Chief Marketing Officer (CMO).

Robillard will oversee the company’s marketing, communications, and culinary teams, reporting directly to CEO Damola Adamolekun. She will play a key role in shaping the future of the brand across Red Lobster's 545 restaurants in the United States and Canada.

The move comes alongside Bob Baker's appointment as Chief Financial Officer as the brand turns the page post-bankruptcy, as SeafoodNews covered earlier this week.

"Nichole's ability to blend creative vision...

Young’s Seafood Revitalizes Scampi Line, Aims to Boost Frozen Seafood Sales

Young’s Seafood, a top brand in the United Kingdom, announced that it is relaunching its entire range of scampi products following a huge consumer-led project as it aims to “revitalize the scampi category.”

The company said the relaunch features major recipe improvements to strengthen its position as a top scampi brand. Its scampi products will also feature new packaging that improves product appeal.

“Young’s believes that the relaunch will not only grow Scampi sales, but the whole frozen seafood category, when its new, improved range hits...

Aquaculture Industry Supplier FiiZK Lands Contract for Pair of Fish Cages in Norway

Aquaculture industry supplier FiizK, a company under the Nekkar ASA umbrella, landed a contract for a pair of large, closed fish cages that will be delivered to an undisclosed fish farmer in Norway.

Under the contract, FiiZK will supply two of its "Protectus" closed fish cages. FiiZK has not disclosed the value of the contract, per a press release.

"We have spent the past 12 months further developing and enhancing our products, streamlined our business to focus solely on closed and semi-closed fish cages...

DOC Issues Final Antidumping, CVD Rates for Shrimp Imports from Ecuador, Indonesia, India, Vietnam

The U.S. Department of Commerce announced its final determinations in the antidumping duty (AD) investigations of frozen warmwater shrimp from Ecuador and Indonesia and the countervailing duty (CVD) investigations of frozen warmwater shrimp from Ecuador, India, Indonesia, and Vietnam

The International Trade Administration (ITA) provided a case calendar. With the final determination for the AD/CVD investigations wrapped up, the International Trade Commission is set to issue its final determination on December 5, 2024. An issuance of orders will occur the following week...

Scotland's Largest Salmon Producer Faces Massive Fish Die-Off Amid Rising Sea Temperatures

Over one million salmon have died at adjacent Mowi Scotland sites during a year-and-a-half production cycle, according to various media reports.

Mowi told The Guardian that 1.05 million salmon died during the period, which was the combined figure for a pair of sites at Loch Seaforth and Noster. Scotland’s Coastal Communities Network (CCN) and NGO Free Salmon analyzed government data on the Mowi sites, which marked the largest die-off in Scotland in over a decade...

NETUNO Launches Fishery Improvement Project to Boost Sustainability of Indian Squid Fisheries

NETUNO, a U.S. seafood importer, announced that it has launched a new Fishery Improvement Project (FIP) supporting squid fisheries on the West Coast of India.

Alongside Neptune, IndoFisheries, and Winsor World, the project looks to improve the “sustainability and long-term viability of these critical fisheries.”

Specifically, the FIP will focus on Indian Squid (Uroteuthis duvaucelii) trawl fisheries from Gujarat to Kerala. It will look to address significant stock variability and sustainability challenges. This project will not only evaluate biological...

Japan: August Salmon Imports Up 25%, Frozen Coho Tripled

According to trade statistics from the Ministry of Finance, the total import volume of salmon and trout in August (including salted, smoked, and processed products) was 12,701 tons, up 25% from the same month last year, and the CIF import value was 18,674 million yen($122.09 million), up 20%. Of this, the import volume of fresh and frozen fillets was 5,501 tons, up 23%, and the import volume of non-fillets was 7,200 tons, up 27%.

Minato Shimbun reported that among the raw materials other than fillets, the import volume...

NBPA Urges BOEM to Reconsider Offshore Wind Plans to Protect Vital Scallop Fishing Areas

The New Bedford Port Authority (NBPA) has submitted a formal response to the Bureau of Ocean Energy Management (BOEM) regarding the recently proposed Central Atlantic 2 Call Area (Docket No. BOEM-2024-0040).

The NBPA raised its concerns about the project’s potential impact on the commercial fishing industry.

New Bedford boasts the most profitable fishing port in the nation, and it is also home to the first large-scale offshore wind marshaling port; it feels that it has strong ties to both vital fishing grounds...

Royal Greenland CFO to Step Down After 17 Years in the Role

When 2024 ends, Royal Greenland will have a new Chief Financial Officer (CFO). Current CFO Nils Duus Kinnerup will step down on January 1, 2025, after 17 years in the role.

Royal Greenland said the development aligns with its goal of consolidating more of its leadership team in Greenland, a move that was not compatible with Kinnerup’s personal circumstances.

The company described the long-time CFO as a “key figure in the company’s financial management and development, guiding the company through a long period of profitability after facing...

SFP Toolkit Offers Over 80 Resources to Drive Sustainable Aquaculture Feed Practices

Sustainable Fisheries Partnership (SFP) launched its aquaculture Feed Solutions Toolkit, which was described as a “one-stop resource for companies to tackle the climate change, habitat, and biodiversity risks associated with aquaculture feed.”

SFP said its new toolkit combines over 80 tools, standards, initiatives, and platforms from multiple organizations, along with guidance and case studies on practical steps to improve feed sustainability.

Seafood companies can use the toolkit to make commitments, assess the risks associated with their feed ingredients and implement improvements...

Akaroa King Salmon Achieves World First with Innovative Blue Impact Feed by BioMar

Akaroa King Salmon has become the first King Salmon producer globally to adopt the innovative Blue Impact feed program developed by BioMar. This groundbreaking initiative supplements wild-caught fish in their formulations with cultivated algal oil, fish trimmings, and insect meal. The new approach significantly reduces the impact on wild fish stocks while utilising clean, sustainable sources of Omega-3 to produce the healthiest fish possible.

As an early adopter of this technology, Akaroa Salmon trialled the algal oil, achieving outstanding results with their...

Food Poisoning Outbreak at Maryland Seafood Distributor Linked to Employee-Prepared Meal

A major food poisoning outbreak that occurred at NAFCO Wholesale Seafood Distributors in Jessup, Maryland, has been linked to outside food prepared by an employee and shared with others at the facility.

On October 21, firefighters and paramedics responded to a food poisoning outbreak at the NAFCO facility, with 46 individuals transported to nearby hospitals. All patients were in non-critical condition, per the Howard County Department of Fire and Rescue Services.

The individuals had all eaten the same food, and the Howard County Health Department...