A US bankruptcy district judge has given the conditional go-ahead for the sale of tuna company Bumble Bee to Taiwanese trader, FCF, for about USD 930 million, stating that the sales process...
Trade
72 Days With Reduced Supply Has Shot Manta Price Up
In Manta, trading activity recommencing after the Christmas/New Year break has shown an increase in the skipjack price. The shortage in tuna caused by the 72-day IATTC fishing ban for purse...
Bumble Bee Bonuses To Top 3 Execs Will Be Considered At Sale Hearing
A US bankruptcy judge approved all Bumble Bee’s bonuses and incentives programs for its top performing employees. However, she refused any payments to three high ranking unidentified...
P&P Profits On The Rise
In 2018, the profit and turnover of Dutch fishing company Parlevliet & van der Plas (P&P) continued to grow. However, the dividends paid to the shareholders were less than those in...
Cash Rich FCF Robust Enough To Shoulder USD 930 Million For The Bee
Taiwanese tuna trader FCF is in a healthy position to purchase Bumble Bee, according to the company’s declaration in the US bankruptcy court in Delaware. This comes on the heels of the trader...
Chicken Of The Sea Should Pay More Says Judge
A US district judge has denied a deal between tuna company Chicken of Sea and a class of commercial food preparers over price-fixing of canned tuna in the country stating that...
Balfegó Presents World’s First Bluefin Cocktails
Balfegó, one of Spain’s leading bluefin tuna companies, has unveiled three utterly unique beverages that mix gastronomy and cocktails by using bluefin. The innovative project looks to...
Mozambique Could Receive Millions For Damages In Tuna Scam Case
The Mozambican government filed a lawsuit to nullify the USD 622 million loan for ProIndicus, a stated-owned security firm in charge of monitoring the nation’s waters. Now a UK...
Will DOJ’s Objection Postpone Bumble Bee’s Sale To FCF?
It is a waiting game this week to see if the sale of Bumble Bee to FCF will go through without delay due to the objection put forth by the US Department of Justice (DOJ). The Taiwanese trader...
Readers: Split Expectations For 2020
The expectations of our readers for this year are divided. The majority of our members are split between three options. Some of them feel worried about what 2020 has in store for...
Atuna Poll: Will FCF Make Policy Changes At Bumble Bee?
Today’s news that Fong Chu Formosa (FCF) is the successful bidder for Bumble Bee makes it more likely that the Taiwanese trader will become the new owner of US seafood giant...
FCF Designated Successful Bidder For Bumble Bee
Taiwanese trader, Fong Chu Formosa's (FCF) stalking horse bid on Bumble Bee has been designated as the “Successful Bid’ in the Chapter 11 sales process after no other bidders emerged. On...
When Does A Tuna Pricing Strategy Become Price-Fixing?
In any industry, companies need to market their products or services in order to stay one step ahead of their competition. Smart pricing strategies are one of the ways to achieve this....
Judge Approves Plaintiffs’ Claims In Trader Joe’s Underfilling Case
A settlement agreement in the underfilling canned tuna suit against American retailer, Trader Joe's, was given preliminary approval by a California federal judge after a decision in another...
Maersk Cyberattack Questioned By Frinsa & Claimants
Spanish tuna company Frinsa del Noroeste and 17 other claimants suing Danish shipping company Maersk Line AS for delays and damage to tons of frozen tuna and other food are questioning the...
Warnings Over Toyosu Market’s Ground Ignored?
Japanese Toyosu Market is making creaking noises and showing alarming cracks in some walls and floors, mostly at the southwest side and the northeast end. At first, these were attributed to...
Gov’t Wants To Avoid Ex-Minister Testifying In US On Tuna Bonds Scam
Mozambique’s Attorney-General’s Office (PGR) has employed a South African law firm to extradite former Finance Minister, Manuel Chang, to Maputo to avoid him facing a potential trial in the...
Update: Good Catch Raises USD 32 Million Capital
Startup Gathered Foods, the owner of plant-based seafood brand Good Catch, has managed to attract another investor during its oversubscribed funding round that took in USD 32 million. General...
Lischewski Pushes For Acquittal On Price-Fixing
Former CEO of Bumble Bee, Christopher Lischewski, has taken a step to overturn his conviction with a US federal court by submitting an acquittal motion, saying that there was insufficient...
Does New US-China Trade Deal Change Tuna Tariffs?
The US has inked the first phase of a new trade agreement with China after nearly two years of escalating economic tensions between the two countries. Though it seems a promising outlook for a...