Great supply to the Bangkok processing hub is continuing which has pushed down the trade value for raw material. Skipjack price has been on a downward path since August albeit still at a high...
Trade
Thai Pet Food Trade Sees Massive Reduction
The pet food business for Thai processors was off to a weak start in 2023 and it has continued on a downward path. There was a drastic 27 percent drop in the first nine months of this year and...
Australia Helps Tuvalu Citizens To Escape Climate Change Impact
A recently inked deal allows a pathway for Tuvalu residents to emigrate to Australia as the Pacific Island nation is threatened by rising sea levels due to climate change. Australia, a close...
Panama Canal’s Skip-The-Queue Auction Smashes Records Again
The Panama Canal's transit problems due to the ongoing drought caused record payments by boat owners to gain right of way. In August, the winning bid to jump the Panama Canal queue reached USD...
Dongwon Prepares To Issue Bonds Through StarKist To Bid On HMM
Dongwon Industries, through its subsidiary StarKist, has found private equity funds interested in convertible bonds to raise capital to put a bid on the Hyundai Merchant Marine (HMM) shipping...
Frime In Talks With Banks For Refinancing
Spanish tuna and seafood processor Frime is negotiating with its creditors to group its working capital loans at different entities and extend its financing time frame. The company is seeking...
Shareholders Express “Extreme Concern” Over Atunlo
Investors are worried over the future of Spanish processing firm Atunlo, which recently entered into a pre-bankruptcy process. On November 7, an extraordinary general meeting of shareholders...
Low Catches & Poor Market Demand Reduced Thai Imports
Thai processors reduced their imports of frozen whole round tuna in the first nine months of this year and this was affected by several factors including poor demand in end markets. From...
Will More Tuna Processors Go Bankrupt In The Next 6 Months?
The fate of two Spanish tuna companies Atunlo and Actemsa are hanging in the air as they undergo pre-insolvency procedures. The inability to refinance their debts and high interest rates have...
Thai Union Continues To Bleed Money From Red Lobster
The US restaurant chain, Red Lobster, continues to be a burden on the Thai Union Group affecting the tuna company’s overall profits. The tuna company reported a THB 395 million (US 11.11...
Tuna Is Europe’s Leading Seafood
Europeans love eating tuna and in 2021, they ate 2.86 kg of the fish. However, consumption levels have fallen over the past three years, according to the latest data from the EU Fish Market...
US Canneries Critical For Big Three’s Sourcing
In 2022, the total tuna market was worth USD 2.22 billion with 40 million cases of products sold and the US Big Three represented 78 percent of the business. They needed 307,000 M/T of the...
Thai Union Net Profit Suffers From Fall In Ambient Tuna Sales
Thai Union Group reported THB 33.92 billion (USD 952.98 million) for its third quarter earnings, driven down by reduction in worldwide sales of ambient tuna and seafood. The net profit...
Thai Producers Lose Substantial Business In North American Markets
The Americas region imported the lowest level of canned tuna from Thailand in the first nine months of 2023 in a 5-year period, driven down by the sharp fall in buyer demand from North...
World’s Most Aerodynamic Car Inspired By Tuna
Chinese automaker Chery Automotive unveiled an electric car inspired by the streamlined and hydrodynamic nature of a tuna. It claims that it is the most aerodynamic car globally. The car...
Thai Union Family Member Wants Soccer Club Fans To Raise USD 2.4 Mln
Dejphon Chansiri, owner of English soccer club Sheffield Wednesday, has asked its fans to raise GBP 2 million (USD 2.4 million) to “save their club” by paying an outstanding tax debt to the...
UK Consumers Increased Thai Canned Tuna Buying
Almost one-fifth of global Thai canned tuna exports were delivered to smaller destinations in the first nine months of this year. However there was a slight fall in trade to these markets...
Galician Tuna Loining Firm Actemsa Struggling Financially
Another Spanish tuna company is facing financial difficulty and has filed for pre-bankruptcy. Family-owned Actemsa based in A Coruña, Galicia, submitted the notice on October 27. It produces...
Dongwon F&B Profits Continue To Grow In Q3 With Strong Tuna Sales
Dongwon F&B sold more products in the third quarter of this year compared to 2022 with a massive jump in its net profit. The company recorded a consolidated turnover of KRW 1,207.5 billion...
Panama Canal Once Again Slashes Ship Crossings, Ecuador’s Exports In Limbo?
October was the driest month since 1950, revealed the Panama Canal Authority (ACP) on Tuesday. The drought caused by the El Niño phenomenon has impacted the Panama Canal’s reservoir system...