Aquaculture improving?..The Fish Farm Thread

Hardy Guy said:
www.northislandeagle.com

Local Newspaper | North Island Eagle | British Columbia

News | North Island Eagle | British Columbia
www.northislandeagle.com www.northislandeagle.com

New closed containment for quatsino. Is this any good AA. Might be interesting, no waste but needs power.
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Maybe. But... Not sure it actually is "closed containment" or not, HG - or that they are just calling it for marketing purposes. It is apparently a "pod" with a "concrete apron around them, with heavy rubberized type fabric". Really not sure what that means.

What's interesting to me is whos the mouthpiece for this operation: https://ca.linkedin.com/in/bernie-taekema-78142855
 
Kinda hard to say too much about the proposed operation w/o more details. Maybe it's a real alternative, maybe not. Maybe it's just another proposed venture capital operation.

As we all know - there are many ways to raise many different species of fish, but not all of them will be profitable ventures. The key to selling venture capital shares is to make the illusion seem all wonderful to investors on start-up w/o actually having to be practical or profitable. The CEOs of those venture capital projects collect their salaries as long as they can - until it becomes obvious that they are beating a dead horse after that reality is exposed. Happens often in many industries - esp. mining & energy projects.

Most commercial aquaculture grow out operations try to use what they have locally wrt environment & water supply to match transportation, processing & markets. So, lots of different realities to adapt to - and those pros/cons of those realities are the focus of a whole other post. But briefly - Atlantic salmon need some salt water during their later development, and trout/char do not. Water quality & amounts restricts production methodologies & locations.

And words like "closed" containment are just words and covers a broad assortment of intensities & densities of fish, & production methods.

So, there are restrictions, and pros/cons to different operations & locations.

Some yet answered questions for this site & methodology include:

1/ What's the oxygen like @ the proposed 30m depth of intake, and throughout the year/seasons? Is it consistently above ~5-8 mg/L? If not FF fish might get stressed and/or die. Many if not most inlets on our coasts have seasonal O2 depletion - esp. late summer, and during spring (March-ish). Saanich inlet is one such example.

Omega's now empty site in N. Barkley Sound is also such a prime example of not understanding how inlets & the ocean work, poor planning - and industry ego and inexperience - for these same reasons. Just like why there is substantial overlap with the best sites for Atlantic salmon ONPSF and juvie salmon rearing in the Discovery Islands & the Broughtons. Salmon need the same environmental parameters; and not every coastal site is "prime" for salmon year- around.

Most recently, MOWI had to learn that same lesson in NFLD:
www.fishfarmingexpert.com

Up to 450,000 fish lost in Canada die-off, says Mowi

Mowi Canada East has estimated that up to 450,000 fish have died in a mass mortality event at its salmon farm site at The Gorge in Newfoundland and Labrador (NL).
www.fishfarmingexpert.com www.fishfarmingexpert.com

O2/WQ is particularly critical for stationary caged FF fish that can only move up and down in the pens a few 10s of meters rather than exiting or migrating out of an area of decreasing seasonal water quality - like wild salmon can. Maybe that's why there is so much plasticity wrt migration timing & marine foreshore usage including temporal & geographic separation between adult & juvies and returning adult salmon lice loads in different species/stocks/clades of wild salmon and their associated adult/juvie life histories & DNA. The survivors transmitted their DNA decoding those successful events to their existing descendants. The ones that died didn't.

2/ What's the energy requirements for pumping and the costs of that energy? How is the energy transportation & supply? Is there a back-up system for power for pumping if it fails? Can those additional electrical costs be covered in a premium for the fillet production?

3/ What's the plan for sewerage disposal & costs?

The main market in Canada (& Chile) for FF farming has been the ONP Atlantic farmed fish market into restaurants & grocery stores and sushi production. Chile production is cheaper than in Canada due to low Chilean wages but transport costs to US market is higher and offsets that competition imbalance. How Trump's impending tariff war will affect the seafood markets & how long - we will find out.

And some grocery markets require certification by 3rd party certifiers like Ocean Wise® and MSC to enter that supply chain. Maybe that's where this operation might gain an advantage and is targeted.

And trout, char, and tilapia markets & supply are slowly increasing; but are more of a niche market due to higher production costs using pumped FW. This one proposes using SW for Atlantics; and is proposed to be located in Neroutsos Inlet near Port Alice to do just that. Maybe they are using some DFO/federal R&D monies to try it out - or are planning to apply to DFO for those monies. Maybe that's why they hired Bernie to be their spokesperson/contact.

But just because there is power and road access available at any site - does not make it a prime site to raise salmon. And I wouldn't expect a farm boy from Ohio or Iowa to have the experience to understand these subtle coastal WQ nuances. But I'd trust them to sell me a tractor, though... Buyer beware!
 
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Will be interesting to see what the ENGOs say when they review the data. Stan is committed to his conspiracy theories.
 
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Was talking to a buddy and he sent me a picture of Organic Farmed Chinook at costco for $7 per lb. This is the company https://creativesalmon.com/ . Apparently they don't use hormones, low density tanks, and natural feed. Is this a better way to farm salmon with less impact on the environment? Demand for salmon isn't going away, natural stocks are feeling pressure. I am not one way or another about it but I wonder if the masses can get salmon at the store, this type of farming is less harmful, will it leave more wild stocks for us sport fisherman?c167392a-c859-4ee5-b50e-bd9c844495a9.jpg7bc58457-963c-4cb8-9b33-88f15412a6c4.jpg

AI Overview
Learn more

Organic farmed chinook salmon is a type of salmon that is raised in a low-density environment without antibiotics or hormones. It is a native species of the Pacific Ocean and is also known as king salmon.

How is it raised?
  • Environment: Organic farmed chinook salmon is raised in a low-density environment, which means there is more room for the fish to move and grow.

  • Diet: Organic farmed chinook salmon is fed a natural diet sourced from FAO-compliant fisheries.

  • Monitoring: Underwater cameras are used to monitor the fish as they grow.

Where is it found?

  • Organic farmed chinook salmon is raised in Tofino, British Columbia on the west coast of Vancouver Island.
 
They have been operating those farms for years. They are Japanese owned and are seeking to provide a quality product where Cermak, a Norwegian company that’s mostly interested in tonnage.
 
Aces said:
They have been operating those farms for years. They are Japanese owned and are seeking to provide a quality product where Cermak, a Norwegian company that’s mostly interested in tonnage.
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Thanks for the info, if this method is better its a shame the government doesn't mandate it as the primary method of farming. At $7 a lb its also reasonably priced too as long as it is a healthy meat.
 
Yeah they have been around for years. The have always been chinook. Antis still don't like them. As an FYI all farms use cameras for feeding and have for years. Mostt farms also use the same feed. Another market , good to see.
 

LETTER: 'See no evil, hear no evil, speak no evil' in province's aquaculture industry

Atlantic Salmon Federation says the NL government has dropped the ball at every opportunity in its approach to the aquaculture industry.
www.saltwire.com www.saltwire.com

watershedsentinel.ca

Fish Farm Fight | Watershed Sentinel

First Nations groups spar over conflicting loyalties to wild salmon and corporate aquaculture in BC's coastal waters.
watershedsentinel.ca watershedsentinel.ca

www.biv.com

Opinion: We need science-advice reform at Fisheries and Oceans Canada

Wild salmon need protection based on independent research
www.biv.com www.biv.com
 

Cash-strapped Grieg reins in Canada investment to focus on Norway​

Impending BC net pen ban has hammered value of salmon farmer's assets​


Published 20 February 2025 - 10:54 Modified 20 February 2025 - 11:36

Norway and Canada salmon farmer Grieg Seafood is throttling back investment in Newfoundland as part of a broader plan to boost its flagging finances and focus on its Norwegian operations.

Grieg made just NOK 8 million (£0.57m / CAD 1.02m) in operating profit on a harvest of 77,704 gutted weight tonnes of Atlantic salmon in 2024 and recorded a pre-tax loss of NOK -2.6 billion. That loss included a NOK -1.7bn reduction in the value of its Canadian assets, such as farm licences, due to political uncertainties and operating conditions.

The uncertainties include US President Donald Trump's threatened tariffs on imports from Canada, and the announcement last year by Canada’s Liberal-led federal government that open-net pen salmon farming would be banned from mid-2029 in British Columbia as part of Prime Minister Justin Trudeau's plan to "transition" to closed containment or land-based fish farming in the province. Grieg paused strategic investments in BC after that decision, but spent NOK 12m on maintenance in the last quarter of 2024.
A Grieg Seafood farm in British Columbia. Grieg's assets in BC have been reduced in value because of the federal government's decision to ban open net pen salmon farming in the province from mid-2029. Photo: Grieg
Prolonged uncertainty

"Justin Trudeau announced his resignation on 6 January, 2025," Grieg wrote in its Q4 2024 report published today. "Together with Trump's victory in the US election, the political uncertainty continues in this region. The election for a new leader for the Liberal Party will take place 9 March 2025 followed by a federal election later in the year. The transition process will be delayed as a result of this."

It added that due to prolonged uncertainty in BC, there had been an impairment of seawater licences and goodwill values.
Reduced capex in NL

There is no threat to salmon farms in Newfoundland, where Grieg has exclusive rights to farm salmon in Placentia Bay, but the cash-poor fish farmer has not yet found suitable investment partners to continue developing the operation.

“This has caused us to revisit our operations in Newfoundland, including a review of the timeline for investments. Meanwhile, we recognise that our operation in Newfoundland has not reached its full potential. Therefore, we have revisited our outlook and have conducted an impairment in regard to intangible and tangible assets,” Grieg wrote in .

Grieg intends to reduce planned capital expenditure in Canada by NOK 500-600m over the next five years.

“We will be focusing our efforts on sustainable and profitable growth in our Norwegian operations while protecting the value of our Canadian assets,” said Grieg chief executive Andreas Kvame.
£142m bond

Grieg is contemplating the issue of a NOK 1.5 – 2.0 billion (£107m - £142m) hybrid bond loan that will add to the company’s equity and strengthen financial flexibility.
Grieg's Q4 at a glance

Harvest volume of 23,551 gwt (Q4, 2023: 21,767 gwt)
Operational EBIT of NOK -74m (NOK -67m), with operational EBIT/kg of NOK -3.1 (-3.1).
Finnmark impacted by string jellyfish attack at Vinnalandet, triggering a cost increase of NOK 75m.
Good production at the other sea sites
Stable and good growth in Rogaland and Newfoundland, improved biological production in British Columbia
Target harvest volume of 84,000 gwt for the full year 2025
Expect to harvest 18,800 tonnes in Q1 2025

The company is also in talks to sell and lease back its Adamselv smolt / post-smolt facilities in Finnmark, northern Norway, which will add approximately NOK 1bn to its balance sheet.

“The expected combined net effect of all these transactions is a reduction of our net interest-bearing debt by approximately NOK 1.5-2.2 billion and a strengthening of our liquidity position by approximately NOK 2.5 billion before financing costs and repayment of the (pre-existing) green bond in June 2025,” said Kvame.

“While this will provide growth capital, we need to continue our work to improve operational stability and ensure cost efficiency with rigorous financial discipline.
A strong asset base

“We are building on a strong asset base with fundamentally sound biology in Norway and enter 2025 with a higher biomass than ever before in both Rogaland and Finnmark. Rogaland is consistently delivering operational and financial performance in line with leading peers, and we have high ambitions as we now are deploying the same operating model in Finnmark. This should enable us to deliver stronger financial results more in line with our long-term strategic ambitions and aspirations.”

Grieg has targeted a harvest volume of 84,000 gwt in 2025, 6,000 gwt higher than last year. The expected harvest distribution is:

Rogaland: 30,000 gwt
Finnmark: 32,000 gwt
British Columbia: 12,000 gwt
Newfoundland: 10,000 gwt

www.fishfarmingexpert.com

Cash-strapped Grieg reins in Canada investment to focus on Norway

Impending BC net pen ban has hammered value of salmon farmer's assets
www.fishfarmingexpert.com www.fishfarmingexpert.com
 
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