Read news from:
Austria
SHARE
COPY LINK

FARMING

Surplus ships could be floating fish farms

The billionaire founder of Marine Harvest, the Norwegian salmon farming giant, has revealed plans to convert his surplus cargo vessels into floating fish farms.

Published: 29 January 2014 10:26 CET
Surplus ships could be floating fish farms
Golden Opportunity, one of the ships owned by John Fredriksen's Golden Ocean company. Source: Golden Ocean
"We look at other opportunities and have several times considered starting production on board ships," John Fredriksen,  the shipping tycoon, told  DN newspaper as he listed the fish-farming company on the New York Stock Exhange on Tuesday.  "Ships are something that we have plenty of, let's put it that way." 
 
The company's shares rose ten percent on their first day of trading on the New York Stock Exchange on Tuesday. 
 
"This is a big day for Marine Harvest and for the salmon farming industry," Alf-Helge Aarskog, the company's chief executive, said as he rung the opening bell. 
 
He said that the US listing would help the company secure the funds it needs to start consolidating the salmon farming industry.
 
"It will be beneficial to have a currency that can be used in the future consolidation of the industry," he said. "We have a good starting point with a market capitalisation of about $5bn and ownership of about two percent of the global production of farmed Atlantic salmon." 

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

POLITICS

France vows to block EU-South America trade deal in current form

France has vowed to prevent a trade deal between the European Union and the South American Mercosur bloc from being signed with its current terms, as the country is rocked by farmer protests.

Published: 31 January 2024 15:46 CET
France vows to block EU-South America trade deal in current form

The trade deal, which would include agricultural powers Argentina and Brazil, is among a litany of complaints by farmers in France and elsewhere in Europe who have been blocking roads to demand better conditions for their sector.

They fear it would further depress their produce prices amid increased competition from exporting nations that are not bound by strict and costly EU environmental laws.

READ ALSO Should I cancel my trip to France because of farmers’ protests?

“This Mercosur deal, as it stands, is not good for our farmers. It cannot be signed as is, it won’t be signed as is,” Economy Minister Bruno Le Maire told broadcasters CNews and Europe 1.

The European Commission acknowledged on Tuesday that the conditions to conclude the deal with Mercosur, which also includes Paraguay and Uruguay, “are not quite there yet”.

The talks, however, are continuing, the commission said.

READ ALSO 5 minutes to understand French farmer protests

President Emmanuel Macron said Tuesday that France opposes the deal because it “doesn’t make Mercosur farmers and companies abide by the same rules as ours”.

The EU and the South American nations have been negotiating since 2000.

The contours of a deal were agreed in 2019, but a final version still needs to be ratified.

The accord aims to cut import tariffs on – mostly European – industrial and pharmaceutical goods, and on agricultural products.

SHOW COMMENTS