Glitnir Bank - Seafood News

The Icelandic Seafood Industry

Fri, 17 Apr 2009 14:46:16 GMT

The key factors determining the performance of the Icelandic seafood industry are (a) the development of the Icelandic krona (ISK), (b) price of seafood products, (c) growth of major fish stocks and allowable catch, (d) oil prices, (e) development of wages and other costs (f) political involvement and possible changes in the fisheries management system.

Íslandsbanki is back!

Mon, 06 Apr 2009 16:01:43 GMT

As of today, New Glitnir becomes Íslandsbanki. The change in name was formally announced at a press conference today at the bank's headquarters at Kirkjusandur. The proposed change of name was first introduced in December last year.

Seafood team in S. America strengthens

Wed, 24 Sep 2008 21:59:28 GMT

Glitnir has recruited two new business directors for Chile and Peru to be based in Santiago and Lima respectively. Glitnir thereby strengthens its global network of expertise within the seafood industry.

ASG acquire the Alaskan Pollock assets of Yardarm Knot, Inc

Mon, 18 Aug 2008 15:13:04 GMT

Glitnir advised Seattle-based American Seafoods Group ("ASG") on the acquisition of the Alaskan Pollock assets of Yardarm Knot, Inc. Both ASG and Yardarm Knot operate in the U.S. Bering Sea.

Public-to-private transaction of Clearwater Seafoods Income Fund

Sat, 16 Aug 2008 20:43:33 GMT

Glitnir has provided a suite of services to Halifax-based Clearwater Fine Foods, Inc ("CFFI") and its partners in their offer to take-private Toronto Stock Exchange listed Clearwater Seafoods Income Fund (the "Fund"), the controlling entity of Clearwater Seafoods Limited Partnership .

Larus Welding: Person of the Year 2008

Tue, 29 Jul 2008 15:31:03 GMT

Intrafish, the largest seafood newspaper in the world, has just announced that its readers have voted Lárus Welding "Person of the Year 2008". It is extremely pleasing for Glitnir and its seafood related activities that Lárus Welding, CEO of Glitnir, has received this recognition from the industry.

EU - Seafood Industry Report

Tue, 07 Apr 2009 13:05:00 GMT

A new Glitnir Seafood Industry Report shows that the European Union, when regarded as one country, to be the world largest seafood markets and has an annual average per capita consumption of approximately 26,5 kg.

Iceland - Seafood Industry Report

Tue, 07 Apr 2009 13:05:23 GMT

Glitnir has published a new Seafood Industry Report for Iceland. The report shows that the Iceland is one of the largest single fisheries countries in the world, the total fish catches in 2007 amounting to over 1.4 million tons.

Challenges in the Seafood Industry

Mon, 21 Apr 2008 11:23:18 GMT

How the current global conditions will effect the industry.
In relation to the upcoming European Seafood Exposition in Brussels, Glitnir Bank will put the effects current economic condition of the industry on the agenda.

Nutreco CEO Dekker to speak at Glitnir's Luncheon in Brussels

Mon, 31 Mar 2008 13:00:55 GMT

Glitnir will host its sixth annual Luncheon at the European Seafood Exposition in Brussels on 23 April. The bank is honored to present Mr. Wout Dekker, CEO of Nutreco Holding N.V. as this year´s guest speaker.

Meet Glitnir in Brussels

Mon, 31 Mar 2008 12:58:48 GMT

With Glitnir´s strategic plans to grow in niche sectors, the bank's Global Seafood team is planning a major presence in and around the European Seafood Exposition, held in Brussels April 22-24. The ESE is the world's largest seafood exposition with over 1,600 exhibiting companies from 87 countries and over 16,000 attendees.

Glitnir's CEO nominated for Person of the Year by Intrafish

Fri, 28 Mar 2008 15:04:42 GMT

Glitnir Bank's CEO, Mr. Lárus Welding, is nominated as Person of the Year by Intrafish, the leading media company in the seafood world. The purpose of the awards, according to Intrafish, is to recognize the work and contributions of people who demonstrate commendable leadership and are influencing the direction of the global seafood industry.

Trade barriers & consumer confidence discussed at Boston Seafood show

Fri, 28 Mar 2008 15:25:44 GMT

Despite a softer economy and turbulent financial markets, the seafood industry didn't show any signs of a slowdown at the Boston Seafood Show in February. Glitnir had a major presence at the show in support of the bank's stated ambition to be positioned as the seafood industry's leading financial partner.

Fishery Management, consumer Markets and seafood Mergers were important issues on the Future conference in Bremen

Thu, 06 Mar 2008 16:04:20 GMT

At the Fish International 2008 last week in Bremen, the Future of the Fishing Industry in Germany and in Iceland was highlighted on an industry conference.

A new conference: The future of the seafood industry in Germany and Iceland

Tue, 19 Aug 2008 19:28:43 GMT

Glitnir, along with the Icelandic Embassy in Berlin, German-Icelandic Chamber of Commerce and Fish International, is hosting a new industry conference, focused on the future of the seafood industry in Germany and Iceland, two countries that face similar challenges in the sector. .

The conference will take place on February 12 alongside the Fish International exhibition in Bremen.
Exhibition information: www.fishinternational.com

Success for Seafood Conference in Denmark

Fri, 01 Feb 2008 11:19:28 GMT

Over one hundred people from the seafood industry participated on 19 October in ´Fremtiden for fiskeindustrien´, aconference held in Ålborg, Denmark, focusing on the future of the seafood industry in Denmark and Iceland.

Glitnir Concludes Corporate Credit Facility with Grieg Seafood ASA

Wed, 30 Jan 2008 14:40:49 GMT

Glitnir Bank in Norway is part of a group of banks which has concluded a new corporate credit facility with Grieg Seafood ASA. The group is led by Sparebanken Vest and also comprises Nordea and Sandnes Sparebank. The total credit frame is NOK 1.400 million.

Successful Ocean of Opportunities Conference

Wed, 30 Jan 2008 14:40:01 GMT

Glitnir’s annual international seafood conference, Ocean of Opportunities, was held in Shanghai, China today. Glitnir’s CEO, Lárus Welding opened the conference. Lárus reflected on the latest Glitnir seafood reports on how consumption of seafood in China is estimated to increase 40 %, and how aquaculture has to grow to maintain the current per capita consumption by 2030

A seafood report on Latin America

Wed, 30 Jan 2008 14:24:25 GMT

The total catch of Latin America amounts to 18% of total fish catches in the world. In 2005 the catch amounted to over 17 million MT with Peru and Chile catching 82% of the total volume

China is the giant of the seafood sector

Wed, 30 Jan 2008 14:21:58 GMT

China is the world's largest producer of fishing products, with around 35% of the global production. Consumption of fish products is expected to rise by 40% in the period from 2006 to 2020.

The future of Canadian seafood lies in aquaculture, according to new Glitnir report

Tue, 29 Jan 2008 18:18:06 GMT

Increasing global salmon prices counterbalance declining harvests in traditional fisheries. An expected increase in global demand for seafood will boost demand for sustainable aquaculture, and Canada is well positioned to meet such growth. The weak US dollar is forcing seafood exporters to look to alternative markets.

Salmon prices going down

Wed, 30 Jan 2008 14:21:02 GMT

The price of salmon fell by 2% in global markets last week, which means the price of salmon has now fallen five weeks in a row.

Agenda Ready for Icelandic-Danish Seafood Conference

Wed, 30 Jan 2008 14:20:17 GMT

Glitnir will host a seafood conference in Aalborg, DK on 19 October, in co-operation with the Icelandic Embassy in Denmark, the Danish-Icelandic Chamber of commerce and Danfish.

US Seafood Industry Market Research – Project by NFI & Glitnir

Wed, 30 Jan 2008 14:19:32 GMT

In cooperation with the National Fisheries Institute (NFI) in the U.S., Glitnir conducted a web-based survey among members of the NFI in late 2005. Often, "market research focuses on others" perceptions of our industry; but this time the industry was invited to inward.

A new seafood report on tuna

Wed, 30 Jan 2008 14:18:52 GMT

The global catch of tuna has stagnated in recent years, the annual catch amounting to just over 4 million tonnes, and harvesting is not foreseen to increase in coming years as most of the world’s tuna stocks are either fully- or overexploited.

Glitnir Co-hosts Seafood Conference in Aalborg

Thu, 14 Feb 2008 16:59:38 GMT

Glitnir, in partnership with the Icelandic Embassy in Denmark, the Danish-Icelandic Chamber of commerce and Danfish, will host a Seafood Conference in Aalborg, Denmark, on 19 October.

Glitnir Corporate Finance Advises FPI Ltd on the Sale of The Seafood Company Ltd.

Tue, 19 Aug 2008 15:36:07 GMT

Fishery Products International Ltd (‘FPI’) has announced that an agreement had been reached for the sale of its UK subsidiary, The Seafood Company Limited (‘TSC’) to Young’s Seafood Limited. Terms were not disclosed. Glitnir Corporate Finance (London) acted as exclusive financial adviser to FPI, conducting the sale through a competitive auction process.

A new seafood report on the EU

Wed, 30 Jan 2008 14:15:49 GMT

The fish catches of EU countries have declined in recent years while fish farming has increased only slightly. EU countries are therefore becoming ever more dependent on imported seafoods to fulfil increased seafood demand. Thus, the import of seafoods to EU member states is almost twice as high as exports.

Enormous interest in Glitnir Securities Seafood Conference

Wed, 30 Jan 2008 14:14:53 GMT

Only standing room was left at Hotel Continental in Oslo when Glitnir Securities Seafood Conference was held yesterday. 150 participants - of which a quarter had flown in from abroad - attended presentations of all the major players in the seafood industry in Norway.

Seafood industry report on the U.S.

Wed, 30 Jan 2008 14:14:00 GMT

The U.S. is one of the world’s main fishing nations. Consumption of seafood products per capita has remained relatively stable in recent years, but the combination of species has changed. Thus, consumption of shrimp, salmon and tilapia has increased rapidly in the past year while the consumption of various demersal species, such as cod and flatfish species, has contracted.

Copeinca ASA started trading on Oslo Stock Exchange this morning

Thu, 14 Feb 2008 16:58:41 GMT

Copeinca, one of the largest fishmeal and fish oil producers in Peru, successfully opened trading Monday as the first foreign fishing company on the Oslo Stock Exchange. In December 2006 Glitnir Securities in Oslo managed a private placement for Copeinca, in cooperation with Glitnir Corporate Finance in London and Glitnir´s Seafood Team in Reykjavík. Glitnir Securities is also the manager for the listing of the Copeinca Shares on the Oslo Stock Exchange.

Glitnir Seafood Report - Iceland

Wed, 30 Jan 2008 14:11:30 GMT

Glitnir Seafood Team has now issued its latest Seafood Industry Report. In our recent reports we looked at the seafood industries in China, Europe, South America, Norway, USA and Canada. In this issue we focus on the Seafood Industry in Iceland.

Samuel Dyer Coriat, CEO of Copeinca, one of top ten executives in Peru 2006

Tue, 29 Jul 2008 15:30:58 GMT

Samuel Dyer Coriat, CEO of Copeinca, has been choosen one of the top ten executives in Peru for 2006, by El Comercio, the leading newspaper in Peru. One of the main reasons for Samuel being choosen in this group was the successful private placement of USD 100m in december, managed by Glitnir.

2006 a good year for the Icelandic seafood industry despite contraction in catch

Wed, 30 Jan 2008 13:58:34 GMT

The catch of the Icelandic fishing fleet is estimated at 1,324 tonnes in the year 2006 according to the Directorate of Fisheries. The catch in 2006 was the smallest since 1991 when it was 1,044 tonnes.

Copeinca ASA completes private placement

Wed, 30 Jan 2008 14:00:03 GMT

Copeinca, the fourth largest fishmeal producer in Peru by assets, has carried out a private placement of 15.5 million shares at a subscription price of NOK 40 per share, contributing USD 100 million in new equity to the company.

Glitnir Securities raises NOK 150 million in new equity for Villa Salmon AS

Wed, 30 Jan 2008 13:59:05 GMT

Glitnir Securities in Oslo has completed a private placement for Villa Salmon in Norway. Villa salmon is a Norwegian aquaculture company focusing on farming of organic and best practice Salmon, trout and cod.

Chinese seafood consumption to increase 40 per cent by 2020; predicts Glitnir Research

Wed, 30 Jan 2008 13:59:35 GMT

Seafood consumption in China will increase by more than 40 per cent by 2020, according to a new seafood industry research report issued by Glitnir Bank.

Seafood Industry ideally positioned for consolidation

Wed, 30 Jan 2008 14:02:03 GMT

The seafood industry is ideally positioned for consolidation, said Seamus FitzPatrick, founding partner of private equity firm CapVest Limited.

Glitnir Corporate Finance advises F.W. Bryce, Inc.

Wed, 30 Jan 2008 14:02:23 GMT

The shareholders of Bryce announced today that they have completed the sale of the Company to Nissui USA for an undisclosed amount. Bryce is located in Gloucester, USA, and focuses on the marketing of frozen seafood mainly into the US market and to a lesser extent into Japan and Canada.

ISB finances management LBO of American Seafoods

Tue, 19 Aug 2008 15:00:15 GMT

The management group of American Seafoods and the Company's Alaskan business partner, have gained ownership of substantially all the voting securities in American Seafoods.

ISB funds acquisition of Rahbekfish

Tue, 29 Jul 2008 15:30:32 GMT

RedSquare Invest, an Icelandic Investment Holding Company, and Rahbekfisks management have acquired Rahbekfisk, one of the leading European producers of frozen convenience products.

ISB leads new long-term credit facility for Clearwater

Tue, 29 Jul 2008 15:30:31 GMT

Clearwater Seafoods Income Fund (the "Fund") and Íslandsbanki (ISB) announced today that the Funds subsidiary, Clearwater Seafoods Limited Partnership ("Clearwater"), has obtained approximately Canadian $48 million for 5 years from the Icelandic bond market, in an issue managed by ISB. The bonds were issued as part of Clearwaters strategy to continue to diversify its debt profile and access longer-term debt.

ISB enables strategically important acquisition in the UK seafood industry

Tue, 19 Aug 2008 15:03:28 GMT

FPI Limited, the Canadian-based seafood company, announced today its acquisition of The Seafood Company Limited, a leading importer, processor and distributor of premium chilled and frozen shellfish products in the UK retail marketplace. The acquisition, which is valued at GBP 18.3 million, was enabled by Íslandsbanki, the Icelandic banking group, which specialises in seafood industry banking and business management services.

Sig. Ágústsson ehf. acquires Hevico A/S

Tue, 29 Jul 2008 15:30:28 GMT

Maran Seafood A/S, a Danish subsidiary of Sig. Ágústsson in Denmark, has acquired the Danish company Hevico A/S. Hevico specialises in the manufacture of smoked trout and is the largest company in its field in Europe. Íslandsbankis Corporate Advisory provided consultancy service on the acquisition, and arranged the financing.