Seafood News
Seafood team in S. America strengthens
Glitnir has recruited two new business directors for Chile and Peru to be based in Santiago and Lima respectively. Glitnir thereby strengthens its global network of expertise within the seafood industry.
18.08.2008ASG acquire the Alaskan Pollock assets of Yardarm Knot, Inc
Glitnir advised Seattle-based American Seafoods Group ("ASG") on the acquisition of the Alaskan Pollock assets of Yardarm Knot, Inc. Both ASG and Yardarm Knot operate in the U.S. Bering Sea.
16.08.2008Public-to-private transaction of Clearwater Seafoods Income Fund
Glitnir has provided a suite of services to Halifax-based Clearwater Fine Foods, Inc ("CFFI") and its partners in their offer to take-private Toronto Stock Exchange listed Clearwater Seafoods Income Fund (the "Fund"), the controlling entity of Clearwater Seafoods Limited Partnership .
23.04.2008Larus Welding: Person of the Year 2008
Intrafish, the largest seafood newspaper in the world, has just announced that its readers have voted Lárus Welding "Person of the Year 2008". It is extremely pleasing for Glitnir and its seafood related activities that Lárus Welding, CEO of Glitnir, has received this recognition from the industry.
21.04.2008EU - Seafood Industry Report
A new Glitnir Seafood Industry Report shows that the European Union, when regarded as one country, to be the world largest seafood markets and has an annual average per capita consumption of approximately 26,5 kg.
21.04.2008Iceland - Seafood Industry Report
Glitnir has published a new Seafood Industry Report for Iceland. The report shows that the Iceland is one of the largest single fisheries countries in the world, the total fish catches in 2007 amounting to over 1.4 million tons.
17.04.2008Challenges in the Seafood Industry
How the current global conditions will effect the industry.
In relation to the upcoming European Seafood Exposition in Brussels, Glitnir Bank will put the effects current economic condition of the industry on the agenda.
Nutreco CEO Dekker to speak at Glitnir's Luncheon in Brussels
Glitnir will host its sixth annual Luncheon at the European Seafood Exposition in Brussels on 23 April. The bank is honored to present Mr. Wout Dekker, CEO of Nutreco Holding N.V. as this year´s guest speaker.
31.03.2008Meet Glitnir in Brussels
With Glitnir´s strategic plans to grow in niche sectors, the bank's Global Seafood team is planning a major presence in and around the European Seafood Exposition, held in Brussels April 22-24. The ESE is the world's largest seafood exposition with over 1,600 exhibiting companies from 87 countries and over 16,000 attendees.
28.03.2008Glitnir's CEO nominated for Person of the Year by Intrafish
Glitnir Bank's CEO, Mr. Lárus Welding, is nominated as Person of the Year by Intrafish, the leading media company in the seafood world. The purpose of the awards, according to Intrafish, is to recognize the work and contributions of people who demonstrate commendable leadership and are influencing the direction of the global seafood industry.
28.03.2008Trade barriers & consumer confidence discussed at Boston Seafood show
Despite a softer economy and turbulent financial markets, the seafood industry didn't show any signs of a slowdown at the Boston Seafood Show in February. Glitnir had a major presence at the show in support of the bank's stated ambition to be positioned as the seafood industry's leading financial partner.
20.02.2008Fishery Management, consumer Markets and seafood Mergers were important issues on the Future conference in Bremen
At the Fish International 2008 last week in Bremen, the Future of the Fishing Industry in Germany and in Iceland was highlighted on an industry conference.
11.01.2008A new conference: The future of the seafood industry in Germany and Iceland
Glitnir, along with the Icelandic Embassy in Berlin, German-Icelandic Chamber of Commerce and Fish International, is hosting a new industry conference, focused on the future of the seafood industry in Germany and Iceland, two countries that face similar challenges in the sector. .
The conference will take place on February 12 alongside the Fish International exhibition in Bremen.
Exhibition information: www.fishinternational.com
Success for Seafood Conference in Denmark
Over one hundred people from the seafood industry participated on 19 October in ´Fremtiden for fiskeindustrien´, aconference held in Ålborg, Denmark, focusing on the future of the seafood industry in Denmark and Iceland.
16.11.2007Glitnir Concludes Corporate Credit Facility with Grieg Seafood ASA
Glitnir Bank in Norway is part of a group of banks which has concluded a new corporate credit facility with Grieg Seafood ASA. The group is led by Sparebanken Vest and also comprises Nordea and Sandnes Sparebank. The total credit frame is NOK 1.400 million.
08.11.2007Successful Ocean of Opportunities Conference
Glitnir’s annual international seafood conference, Ocean of Opportunities, was held in Shanghai, China today. Glitnir’s CEO, Lárus Welding opened the conference. Lárus reflected on the latest Glitnir seafood reports on how consumption of seafood in China is estimated to increase 40 %, and how aquaculture has to grow to maintain the current per capita consumption by 2030
05.11.2007A seafood report on Latin America
The total catch of Latin America amounts to 18% of total fish catches in the world. In 2005 the catch amounted to over 17 million MT with Peru and Chile catching 82% of the total volume
05.11.2007China is the giant of the seafood sector
China is the world's largest producer of fishing products, with around 35% of the global production. Consumption of fish products is expected to rise by 40% in the period from 2006 to 2020.
02.11.2007The future of Canadian seafood lies in aquaculture, according to new Glitnir report
Increasing global salmon prices counterbalance declining harvests in traditional fisheries. An expected increase in global demand for seafood will boost demand for sustainable aquaculture, and Canada is well positioned to meet such growth. The weak US dollar is forcing seafood exporters to look to alternative markets.
20.09.2007Salmon prices going down
The price of salmon fell by 2% in global markets last week, which means the price of salmon has now fallen five weeks in a row.
20.09.2007Agenda Ready for Icelandic-Danish Seafood Conference
Glitnir will host a seafood conference in Aalborg, DK on 19 October, in co-operation with the Icelandic Embassy in Denmark, the Danish-Icelandic Chamber of commerce and Danfish.
01.09.2007US Seafood Industry Market Research – Project by NFI & Glitnir
In cooperation with the National Fisheries Institute (NFI) in the U.S., Glitnir conducted a web-based survey among members of the NFI in late 2005. Often, "market research focuses on others" perceptions of our industry; but this time the industry was invited to inward.
23.08.2007A new seafood report on tuna
The global catch of tuna has stagnated in recent years, the annual catch amounting to just over 4 million tonnes, and harvesting is not foreseen to increase in coming years as most of the world’s tuna stocks are either fully- or overexploited.
08.08.2007Glitnir Co-hosts Seafood Conference in Aalborg
Glitnir, in partnership with the Icelandic Embassy in Denmark, the Danish-Icelandic Chamber of commerce and Danfish, will host a Seafood Conference in Aalborg, Denmark, on 19 October.
26.07.2007Glitnir Corporate Finance Advises FPI Ltd on the Sale of The Seafood Company Ltd.
Fishery Products International Ltd (‘FPI’) has announced that an agreement had been reached for the sale of its UK subsidiary, The Seafood Company Limited (‘TSC’) to Young’s Seafood Limited. Terms were not disclosed. Glitnir Corporate Finance (London) acted as exclusive financial adviser to FPI, conducting the sale through a competitive auction process.
02.05.2007A new seafood report on the EU
The fish catches of EU countries have declined in recent years while fish farming has increased only slightly. EU countries are therefore becoming ever more dependent on imported seafoods to fulfil increased seafood demand. Thus, the import of seafoods to EU member states is almost twice as high as exports.
27.03.2007Enormous interest in Glitnir Securities Seafood Conference
Only standing room was left at Hotel Continental in Oslo when Glitnir Securities Seafood Conference was held yesterday. 150 participants - of which a quarter had flown in from abroad - attended presentations of all the major players in the seafood industry in Norway.
09.03.2007Seafood industry report on the U.S.
The U.S. is one of the world’s main fishing nations. Consumption of seafood products per capita has remained relatively stable in recent years, but the combination of species has changed. Thus, consumption of shrimp, salmon and tilapia has increased rapidly in the past year while the consumption of various demersal species, such as cod and flatfish species, has contracted.
29.01.2007Copeinca ASA started trading on Oslo Stock Exchange this morning
Copeinca, one of the largest fishmeal and fish oil producers in Peru, successfully opened trading Monday as the first foreign fishing company on the Oslo Stock Exchange. In December 2006 Glitnir Securities in Oslo managed a private placement for Copeinca, in cooperation with Glitnir Corporate Finance in London and Glitnir´s Seafood Team in Reykjavík. Glitnir Securities is also the manager for the listing of the Copeinca Shares on the Oslo Stock Exchange.
25.01.2007Glitnir Seafood Report - Iceland
Glitnir Seafood Team has now issued its latest Seafood Industry Report. In our recent reports we looked at the seafood industries in China, Europe, South America, Norway, USA and Canada. In this issue we focus on the Seafood Industry in Iceland.
11.01.2007Samuel Dyer Coriat, CEO of Copeinca, one of top ten executives in Peru 2006
Samuel Dyer Coriat, CEO of Copeinca, has been choosen one of the top ten executives in Peru for 2006, by El Comercio, the leading newspaper in Peru. One of the main reasons for Samuel being choosen in this group was the successful private placement of USD 100m in december, managed by Glitnir.
03.01.20072006 a good year for the Icelandic seafood industry despite contraction in catch
The catch of the Icelandic fishing fleet is estimated at 1,324 tonnes in the year 2006 according to the Directorate of Fisheries. The catch in 2006 was the smallest since 1991 when it was 1,044 tonnes.
02.01.2007Copeinca ASA completes private placement
Copeinca, the fourth largest fishmeal producer in Peru by assets, has carried out a private placement of 15.5 million shares at a subscription price of NOK 40 per share, contributing USD 100 million in new equity to the company.
16.11.2006Glitnir Securities raises NOK 150 million in new equity for Villa Salmon AS
Glitnir Securities in Oslo has completed a private placement for Villa Salmon in Norway. Villa salmon is a Norwegian aquaculture company focusing on farming of organic and best practice Salmon, trout and cod.
27.10.2006Chinese seafood consumption to increase 40 per cent by 2020; predicts Glitnir Research
Seafood consumption in China will increase by more than 40 per cent by 2020, according to a new seafood industry research report issued by Glitnir Bank.
11.05.2006Seafood Industry ideally positioned for consolidation
The seafood industry is ideally positioned for consolidation, said Seamus FitzPatrick, founding partner of private equity firm CapVest Limited.
06.04.2006Glitnir Corporate Finance advises F.W. Bryce, Inc.
The shareholders of Bryce announced today that they have completed the sale of the Company to Nissui USA for an undisclosed amount. Bryce is located in Gloucester, USA, and focuses on the marketing of frozen seafood mainly into the US market and to a lesser extent into Japan and Canada.
28.02.2006ISB finances management LBO of American Seafoods
The management group of American Seafoods and the Company's Alaskan business partner, have gained ownership of substantially all the voting securities in American Seafoods.
22.12.2005ISB funds acquisition of Rahbekfish
RedSquare Invest, an Icelandic Investment Holding Company, and Rahbekfisks management have acquired Rahbekfisk, one of the leading European producers of frozen convenience products.
30.09.2005ISB leads new long-term credit facility for Clearwater
Clearwater Seafoods Income Fund (the "Fund") and Íslandsbanki (ISB) announced today that the Funds subsidiary, Clearwater Seafoods Limited Partnership ("Clearwater"), has obtained approximately Canadian $48 million for 5 years from the Icelandic bond market, in an issue managed by ISB. The bonds were issued as part of Clearwaters strategy to continue to diversify its debt profile and access longer-term debt.
05.09.2005ISB enables strategically important acquisition in the UK seafood industry
FPI Limited, the Canadian-based seafood company, announced today its acquisition of The Seafood Company Limited, a leading importer, processor and distributor of premium chilled and frozen shellfish products in the UK retail marketplace. The acquisition, which is valued at GBP 18.3 million, was enabled by Íslandsbanki, the Icelandic banking group, which specialises in seafood industry banking and business management services.
14.06.2005Sig. Ágústsson ehf. acquires Hevico A/S
Maran Seafood A/S, a Danish subsidiary of Sig. Ágústsson in Denmark, has acquired the Danish company Hevico A/S. Hevico specialises in the manufacture of smoked trout and is the largest company in its field in Europe. Íslandsbankis Corporate Advisory provided consultancy service on the acquisition, and arranged the financing.
