Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Vessel investment secures NZ fishing jobs

Vessel investment secures NZ fishing jobs

The decision to invest in a 63 metre freezer factory trawler means Sealord is securing 84 fishing jobs and its on-shore support teams.

Sealord has purchased the Ocean Dawn, a vessel that has been under contract to the fishing company since July 2011, thanks to increases in sustainable hoki quota, its most important species.

General Manager Sealord Fishing, Doug Paulin, says the decision to invest in the vessel is a reflection of Sealord’s confidence in the sustainability of hoki and commitment to New Zealand based fishing operations.

“This investment is substantial at close to NZD 20 million and underlines Sealord’s confidence that hoki is one of the world’s most sustainable white fish species with considerable upside in the future in both value and catch,” said Paulin.

New Zealand hoki was the first white fish species to be certified through the global Marine Stewardship Council (MSC) programme in 2001 and has now been certified three times with the last recertification being objection free.

The robust, independent assessment looks at stock health; impact on the environment and fisheries management.

Hoki is the target species for Ocean Dawn and the fish makes up around half of Sealord’s revenue by value.

Investment will go beyond the purchase with work underway to refit and improve the on-board factory and the addition of a gym for the crews. Upgrades of crew quarters and a five year refit will take place when the vessel goes into dry dock at the end of 2015.



© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news