HAVFISK to Sell Vessel and Quota

Aker Seafoods Becomes HAVFISK ASA

HAVFISK ASA has signed a Letter of Intent to sell the vessel “Jergul” with quotas for fishing of cod, haddock and saithe.

Havfisk has today signed a Letter of Intent with a North-Norwegian buyer for the sale of the vessel “Jergul” with quota for fishing of cod, haddock and saithe, a so-called cod trawler licence. “Jergul” is a 41 year old vessel, and the oldest of the company’s vessels. The sale includes 0,35 quota-units for cod and haddock and 0,58 quota-units for saithe north of the 62 parallel, and 1,0 quota-units for saithe south of the 62 parallel.

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The agreed purchase amount for vessel and quota is NOK 33 million, where the vessel is valued at NOK one million. The sale is planned accomplished with effect from 1/1-2014, and is subjected to approval from Norwegian authorities.

The sale is part of the on-going fleet renewal program in Havfisk. Havfisk has prior to the sale 29.61 quota-units for cod and haddock and 31.91 quota-units for saithe. The sale prices one quota-unit to about NOK 90 million

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, and shows the underlying value of the company,says CEO Olav Holst-Dyrnes.

Havfisk had per 3 July a market value at NOK 458 million. This is about 50 per cent of the book equity. Each quota has a booked value of approximately NOK 35 million.

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Havfisk is the largest fishery company in Norway with 11 trawlers. The company has contracted three new trawlers to replace older vessels, including “Jergul”. Two vessels were sold in 2012. The first of the three new vessels “Gadus Poseidon” will be operational in third quarter 2013 and will give the company increased catch capacity.

The total Norwegian quota for cod fishing is at a record high level in 2013. The yearly quota counsels from ICES – International Council for the Exploration of the Sea, give notice of corresponding high levels of cod quota also in 2014. Havfisk ASA has about 11 per cent of the total Norwegian cod quota.

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Posted by on July 3, 2013. Filed under All news, Business, Company News, Latest news, World. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.