Salmon producers don’t want bailout

When Norwegian farmers were hit by a drought last year, they quickly demanded financial aid from the government and got it, to the tune of around NOK 2.5 billion. Now another natural disaster has hit salmon farmers off the coast of Northern Norway, but they have no intention of asking for a taxpayer bailout. “That’s […]

Algae kills 10,000 tons of salmon

Salmon farmers in Northern Norway are in despair, following the natural but deadly blossoming of an algae that’s literally been choking their fish. Wild fish can swim away from the algae, but the salmon contained in offshore production facilities didn’t have a chance when the algae started descending upon them last week. Norway’s state directorate […]

Royals confronted over salmon farms

King Harald and Queen Sonja experienced an unusual end to their six-day state visit to Chile over the weekend, when they were suddenly surrounded by angry demonstrators in the southern city of Punta Arenas. The royal couple took it in stride, with the monarch even claiming that it was a good example of Chile’s hard-won […]

Cermaq sale stirs some uncertainty

Some scenic and small communities in the northern Norwegian counties of Nordland and Finnmark are uneasy following the announcement this week that giant Japanese firm Mitsubishi has launched a bid for Cermaq, the large state-controlled Norwegian salmon farming firm. Rival bidders have a month in which to challenge the offer, and that’s set off uncertainty over the  future of […]

Politicians frown on Cermaq bonuses

Trade Minister Trond Giske of the Labour Party wasn’t the only state politician unhappy to hear that executives leading the state-controlled seafood firm Cermaq could celebrate the sale of its fish-feed unit EWOS by getting a bonus equal to half-a-year’s pay. The bonuses were approved by Cermaq’s board without Giske being told, raising questions over […]

State left with bigger Cermaq stake

Months of takeover drama around the Norwegian salmon- and fish-feed producer Cermaq ended last week with the state boosting its already substantial stake to nearly 60 percent. State officials were the targets of criticism over how they handled the ownership struggle. Trade Minister Trond Giske, harshly criticized for what one investor called “market manipulation,” denied […]

Researchers eye cod breakthrough

Scientists and fish breeders believe they have discovered a calmer, more robust species of cod that can better handle stress and disturbance. The discovery could have major implications for the fish-farming industry in Norway. Cod farming has been going on for more than 20 years in Norway, but without great success. This is partly because wild cod is abundant in the […]

Investor blasts state ‘meddling’ over bid for Cermaq

High-profile investor and former top broker Anders Onarheim lashed out at state officials and, in particular, Trade Minister Trond Giske, on Monday over their involvement in the recent drama around salmon- and fish-feed producer Cermaq. The state-controlled company’s stock dove after Cermaq’s initial suitor, Marine Harvest, withdrew its bid citing a lack of interest in […]

Cermaq attracts another suitor

Norwegian fish-farming and fish-feed producer Cermaq has attracted a new bid from an investor group that looks set to heat up a takeover battle for the company, in which the Norwegian state holds 43.5 percent of the stock. Concerns over salmon farming don’t seem to be discouraging investors, with industry giant Marine Harvest already making […]

Cermaq bid subjects salmon to commercial conflicts, too

Norwegian Trade Minister Trond Giske claims he’s trying to avert a lengthy battle over ownership of salmon- and fish-feed producer Cermaq, in which the state has a 44 percent stake and ranks as Cermaq’s largest single owner by far. Giske made moves this week that will allow the state to either sell off or buy […]