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IN BRIEF - A.P. Møller - Mærsk A/S – Increasing 2024 full-year guidance

DENMARK
Tuesday, June 04, 2024

On the back of continued strong container market demand and the disruption caused by the ongoing crisis in the Red Sea, A.P. Møller - Mærsk A/S (APMM) now also sees signs of further port congestions, especially in Asia and the Middle East, and additional increase in container freight rates. This development is gradually building up and is expected to contribute to a stronger financial performance in the second half of 2024.

Based on these developments, APMM upgrades its full-year 2024 guidance and now expects underlying EBITDA of USD 7 to 9bn and EBIT of USD 1 to 3bn (previously USD 4 to 6bn and USD -2 to 0bn, respectively), and free cash flow of at least USD 1bn (previously at least USD -2bn).

Trading conditions remain subject to higher-than-normal volatility given the unpredictability of the Red Sea situation and the lack of clarity of future supply and demand.

APMM will publish its Q2 interim results on 7 August 2024.


Other Media | iPac.aquaculture: Bastiaan van Tilburg, new CEO of Skretting

NORWAY
Tuesday, June 04, 2024

As already announced in April of this year, as of June 1, Bastiaan van Tilburg is the new CEO of Skretting, replacing Therese Log Bergjord.

Bastiaan van Tilburg comes from Trouw Nutrition, Skretting's sister company at parent company Nutreco, where he held the position of managing director for Europe and Central Asia.

With an accredited track record and deep commitment to sustainable growth through innovation, as Skretting highlights.

Source: iPac.acuculture l Read the full article here


Other Media | Faro de Vigo: Europe exhausts its legislature with another 'no' to the sustainability of large fishing vessels

EUROPEAN UNION
Tuesday, June 04, 2024

Just a few days before the future of the new Commission is decided, Sinkevicius refuses to give aid to modernize or replace the engines of ships over 24 meters in length

That the current Commissioner for the Environment, Oceans and Fisheries, Virginijus Sinkevicius, has been the sword of Damocles in the maritime sector these last five years is something that numerous voices that represent him within Europe, Spain and Galicia have denounced day after day. It is a legislature that will go down in history for applying restrictions to the activity without a rigorous scientific basis or prior socioeconomic impact studies, such as the veto on bottom fishing in 87 areas of the North Atlantic; of which the president of the European Commission (EC), Ursula von der Leyen, does not feel particularly proud in this regard

Author: Jorge Garnelo / Faro de Vigo  l Read the full article here


Other Media | SeafoodSource: Iconic Mississippi restaurant to pay USD 1.35 million for mislabeling seafood

UNITED STATES
Tuesday, June 04, 2024

Aco-owner of historic Biloxi, Mississippi, U.S.A.-based Mary Mahoney’s Old French House restaurant has pleaded guilty to federal charges of conspiracy, misbranding seafood, and wire fraud and will pay USD 1.35 million (EUR 1.2 million) in fines.

Anthony Cvitanovich, who was also the restaurant’s general manager, pled guilty to the felony charges on 30 May, according to a press release from the U.S. Attorney’s Office for the Southern District of Mississippi.

Author: Christine Blank / SeafoodSource l Read the full article here


Other Media | The Fish Site: Benchmark announces new management appointment

NORWAY
Tuesday, June 04, 2024

Benchmark, a leading aquaculture biotech company, has announced the appointment of Sverre Vormedal to the role of sales and technical manager for Iceland.

Benchmark Genetics, an aquaculture biotechnology company which provides genetic services to producers, has announced the appointment of a new sales and technical manager for its operations in Iceland.

Source: The Fish Site l Read the full article here


Other Media | WorldFishing: Trident to continue operations at Kodiak

UNITED STATES
Tuesday, June 04, 2024

North American harvesting and processing company Trident Seafoods has confirmed its plant in Kodiak, Alaska, will continue operating through the ‘B’ Season to ensure local fishers have a market for the season and surrounding businesses remain secure. It will remain the facility’s operator while confidential sale negotiations continue.

Trident announced last year that it was seeking buyers for four of its Alaska shoreside plants as part of a comprehensive, strategic restructuring initiative.

Source: Worldfishing l Read the full article here


Other Media | La Voz de Galicia: Fishing and agriculture revolt against the EU tax on their fuels

EUROPEAN UNION
Monday, June 03, 2024

Five organizations demand that the rate of 0.036 euros per liter be withdrawn

Fishermen and farmers also lose their lives in climate change. They therefore share the decarbonization objectives of a European Union (EU) established as a global champion of biodiversity. By competing inside and outside the Twenty-seven with products from third countries with lower environmental and socioeconomic demands, they appeal to the States and European authorities for protection. For their own subsistence and because they are food suppliers for European citizens who depend on the outside world for seven out of every ten fish they consume.

Source: La Voz de Galicia l Read the full article here


Other Media | Alimarket: Iberconsa navigates with a very clear course and values ​​the Platinum era 'very positively'

SPAIN
Monday, June 03, 2024

Iberconsa navigates with a very clear course: "to achieve the maximum possible profitability."

How is your evolution in the Platinum era? We put on the table the figures from last year of the Galician fishing group, its forecasts, its positioning in retail and the keys to its trajectory. Will you participate in the sector's trend and diversify towards modern refrigerated fishmongers?

We reveal the latest movements of the second operator in the TOP 100 Alimarket of frozen seafood products.

Source: Alimarket l Read the full article here


Other Media | fishfarmingexpert: Japan salmon RAS project secures £165m debt facility

JAPAN
Monday, June 03, 2024

Soul of Japan K.K. (SOJ), which is building a land-based salmon farm in Japan’s Mie Prefecture, has announced the successful signing of a JPY33 billion (equivalent to US $210 million / £165m) long-term debt facility provided by Sumitomo Mitsui Banking Corporation (SMBC) to the project.

The facility will produce 10,000 tonnes of Atlantic salmon annually and will be housed in a total of 70,000m² of building space, spanning over a 137,000m² plot.

Source: fishfarmingexpert  l Read the full article here


Other Media | Fish Focus: Europe-wide project working collaborately with fishers.

EUROPEAN UNION
Monday, June 03, 2024

EU LIFE-funded project CIBBRiNA (Coordinated Development and Implementation of Best Practice in Bycatch Reduction in the North-East Atlantic, Baltic and Mediterranean Regions) has embarked on a fully collaborative programme working to minimise the bycatch of Endangered, Threatened and Protected (ETP) marine mammals, seabirds, turtles, sharks, skates, and rays.

Funded by the EU LIFE programme and formed of stakeholders from 13 European countries, CIBBRiNA is using cross-border and cross-sectoral collaboration to establish mitigation, monitoring, and assessment programmes in a selection of fisheries with a risk of bycatch of Endangered, Threatened and Protected species.

Source: Fish Focus  l Read the full article here


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