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TheFishSite Newsletter - 11 August 2009
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Tuesday 11th August 2009
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Welcome to this week's newsletter

Q2 Results Marks the Ups and Downs of Aquaculture

Second quarter results were published for many sectors of the aquaculture industry this week revealing mixed readings. HQ Sustainable Maritime Industries, Inc., a leader in all natural integrated aquaculture and aquatic product processing, announced success with increased sales of 10 per cent to $16 million, compared to $14.5 million for the second quarter of 2008. Highlights included favorable increases in gross profit margins. "Fueling this leverage and our continued vertical integration was the recent completion of our feed mill," said Norbert Sporns, CEO.

Cermaq, a global company focused on fish production and feed, were also optimistic about the their Q2 figures, but noted an air of caution over future challenges. EWOS returned an EBIT margin well above 2008 levels due to more favourable raw material price developments, whilst Mainstream had better results following lower losses in Chile than in 2008. But the company admitted that a major risk in EWOS in Chile is the possibility of a bad debt. "Improvements may have been made, but there is still a significant risk that a customer defaults in the coming period," concluded Cermaq.

Things look less positive for Omega Protein Corporation. The leading producer of Omega-3 fish oil in the US reported a net loss of $3.3 million ($0.18 per share) for the second quarter of 2009. Omega Protein recorded operating loss of $3.9 million for the second quarter of 2009, versus operating income of $11.6 million for the second quarter of 2008. "The decreased sales prices are a result of the general constriction of global markets and, more particularly as it relates to fish oil, an inordinate reduction in demand from the Chilean aquaculture industry," claimed a Cermaq press statement.

Worryingly, the company says there is a likelihood that it may not be able to remain in compliance with certain financial covenants for the remainder of 2009 and announced a series a actions they would take dependent on how such a scenario might unfold. Sink or swim, the future of the company may seem uncertain. But then, such is the nature of today's aquaculture industry.

Adam Anson

Book Focus

Fish Disease: Diagnosis and Treatment
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* This Week's Feature Articles

We have 4 new features this week:

The Changing Shape of US Farm-Raised Catfish
With financial pressure mounting from all directions, how the US catfish industry might wriggle free from its current problems is under intense debate. Adam Anson, writing for TheFishSite, reports.
Reproducing the Atlantic Bluefin
The European research consortia SELFDOTT and ALLOTUNA recently succeeded in controlling the reproduction of the Atlantic bluefin tuna in captivity and began larval rearing work.
Ammonia in Aquatic Systems
Of all the water quality parameters that affect fish, ammonia is the most important after oxygen, especially in intensive systems, says Ruth Francis-Floyd, Craig Watson, Denise Petty, and Deborah B. Pouder, University of Florida IFAS Extension.
Development of Risk Assessment Methods for Fishery Products
Both “risk” and “risk assessment” have become a kind of “buzz” word today. In the new hygiene package from the European Union (EU), the focus is on risk assessment and risk-based inspections. Another aspect has been developing in recent years, namely risk-benefit or cost-benefit analysis, says Guðjón Gunnarsson, The Directorate of Fisheries, Iceland.
Schering Plough Aquaculture.
* Global Aquaculture Industry News

   Angola

 » US$40 million for Aquaculture College in Angola

   United States

 » Tall Reefs Helping Chesapeake's Oysters Rebound
 » New Website Locates Sustainable Seafood Supplies
 » New Information on Multi-animal Pathogen
 » Louisiana Gets $150,000 for Fish Farm Research
 » Last Attempts to Block Deap-water Aquaculture
 » Omega Protein: Future Uncertain After Q2 Losses
 » Expert Supports USDA Inspections for Catfish
 » Mississippi Catfish Industry Continues to Shrink
 » Ultrasonic Tags to Estimate Mortality Rates
 » Using Fish Protein to Study Obesity And Diabetes
 » Chemaphor and Elanco End Relationship

   Spain

 » Cod Farming in Basque Country
BigPool3 and only from BD Fish Equipment
   General

 » Atlantic Bluefin are Highly Vulnerable
 » HQ Sustainable Reports Strong Q2 Results
 » Cermaq Optimistic After Q2, but Challenges Ahead
 » Kiotech Appoints New Head of Aquaculture
 » Huge Energy Saving Potential for Herring
 » World Fish Highlights Dangers of Climate Change
 » US Catfish Plan Threatens Trade War

   Chile

 » 'Salmon Plan' Falls Short for Chile's Workers

   United Kingdom

 » Petition Calls for Relocation of Salmon Farms
 » The Benefits of High Pressure Processing
 » Koi Herpesvirus Disease Outbreaks Confirmed
 » Compass Group Point Towards Sustainable Seafood
 » Giant Food Unites with New England Aquarium
 » Fishing Vital To UK Economy

   Australia

 » Emergency Funds for Rock Lobster Industry?
 » Invasive Tilapia Eradicated in Bullyard Area
 » Abalone Rush Leads to Industry Collapse
 » Praise for Handling of Abalone Disease in Victoria
 » Call for Australian Abalone Enquiry Rejected
 » No End in Sight to High, Volatile Feed Grain Prices

   China

 » China's Role in Global Fisheries
 » Villagers Recapture Fish Swept Away by Typhoon

   Viet Nam

 » Export Struggles Hit Vietnamese Seafood Sector
 » Experts Establish Pangasius Standards
 » Chinese Prawns Pile on Misery at the Mekong

   New Zealand

 » NZ$7 million Salmon Farm Upgrade in Glory Bay

   Canada

 » Canada's Aborigines Respond to Aquaculture Reform
 » Sustainable Campaign Sees Results in Canada

   Taiwan

 » Typhoon Morakot's T$1.53 billion Toll on Fish Farms



That's all for this week!

Ed.
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