Daily recap: Captain Fresh prepares IPO; Farmed shrimp output to surpass 6m metric tons

Here's a recap of the top daily seafood stories from Friday, Oct. 25:

• India’s Captain Fresh reported to be working toward public offering in 2025

India-based seafood distribution giant Captain Fresh is preparing an initial public offering of its shares for 2025, sources have confirmed to Undercurrent News.

• Slower growth to take farmed shrimp output over 6m metric tons in 2025

Global farmed shrimp supply growth is slowing but is still expected to be positive in 2025 despite painfully low prices in many parts of the world, said Rabobank's Gorjan Nikolik.

• Limits on Texas’ oyster season opener won’t deter wholesaler

The 2024-2025 Texas oyster season will kick off on Nov. 1 with less than half of the shellfish harvest areas open to commercial harvesting. But the situation isn't as dire as the Texas Parks and Wildlife Department makes it sound, stresses Raz Halili at Prestige Oysters.

• Finnforel sets multi-‘gigafactory’ ambitions in motion with expected €240m funding boost

Finnish land-based aquaculture firm Finnforel has unveiled plans to establish a network of "gigafactories," an initiative to be supported by an expected €240 million ($259.3m) funding boost.

• Canadian RAS firm to borrow another CAD 8m to sustain 512,000 salmon

Distressed Canadian land-based salmon producer Sustainable Blue has received court approval for an increased borrowing authority of CAD 8 million (approximately $5.77m) to support the care and maintenance of about 512,000 fish.

• Corrales: Tri Marine fleet efficiency, factory upgrades vital as tuna fishers weather storm

Tuna fishing and trading company Tri Marine is continuing to invest in its fleet and processing operations despite the many ongoing challenges faced by the tuna industry, according to the group's vice president Juan Corrales.?

• Royal Greenland CFO’s departure part of leadership consolidation at Nuuk headquarters

After 17 years with Royal Greenland, Nils Duus Kinnerup is stepping down from his role as chief financial officer (CFO). The Nuuk, Greenland-headquartered company, which is wholly owned by the Government of Greenland, has confirmed that it will be welcoming a new CFO at the start of the new year.

• Trade insights: China’s shrimp imports sink 24% in September

China's frozen warmwater shrimp imports declined sharply in September, with total volume dropping 24% year-on-year to 66,149 metric tons, while value decreased 26% to $327 million, according to Chinese customs data.

• Little movement on stable Norwegian, Scottish salmon markets, prices up in Chile

Spot prices for Norwegian farmed salmon appear to be stabilizing for week 44 (Oct. 28- Nov. 4) of 2024, as have Scottish values, although there has been a modest price bump for Chilean salmon ahead of a 3-day production week, industry sources told Undercurrent.