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...
Trade
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...
Thai Canned Tuna Exports Slide Amid Massive Drop In Trade With Egypt
Thai canned tuna exports to global destinations continued to fall in the third quarter of this year given the reduced purchasing by several major markets. Egypt’s economic situation has...
Spanish Tuna Processor Atunlo Files For Pre-Bankruptcy
Spanish processing firm Atunlo is said to have entered into pre-bankruptcy procedure with creditors to restructure its debt as it was unable to meet its expenses, according to various Galician...
Philippines And Vietnam Expand In Eastern EU Canned Tuna Market
The Eastern nations of the EU reduced their canned tuna imports in the first half of the year after a huge intake in H1 2022. Most canners lost business in these EU member states, but the...
Shipbuilder Slings Mud At Mozambique President Over Undermining Tuna Project
Abu Dhabi-based shipbuilder Privinvest in a London High Court lawsuit has accused the African nation's President Filipe Nyusi of being ultimately responsible for the failure of tuna and...
John West’s Net Profit Nosedived In 2022
Turnover of UK-based John West Foods fell by 13.5 percent YoY in 2022 due to a decline in sales volumes, but its net profit dropped massively. The Thai-Union subsidiary said that it...
Bangkok Skipjack Price Pressured By Substantial Increase In Supply
Trade is picking up at the world’s largest processing hub with a significant increase in skipjack raw material supply to Bangkok. This factor, along with pressure from producers, has pushed...
South Korean Shipping Experts Question Dongwon’s Worth To Purchase HMM
South Korean shipping experts have expressed their doubts over Dongwon Industries being a suitable purchaser for container shipping company HMM. They said Dongwon and its two competitors, LX...
Costa Rican Police Find Drugs In Tuna Cans
Last Sunday, officers of the Public Force of Costa Rica seized 3.5 grams of marijuana from a man who had hidden it inside tuna cans for local distribution in the capital city of San José. The...