On 23rd January 2014, FIS published an Opinion piece relating to the Falkland Islands ...
IN BRIEF - Fisheries will grow by 250,000 tonnes if the Hague favors Peru
Wednesday, January 15, 2014
The fisheries sector in Tacna would be one of the main beneficiaries if a favorable verdict wii be provided to Peru at the International Court in The Hague. The verdict , which will end the dispute with Chile over a sea area , will be issued on 27 January.
The regional production director , Luis Muñante said that if the positive result would have a larger area of ??sea for fishing. This was reflected in an increase in production hydrobiological 250 thousand tons per year. The amount is currently extracted by the neighboring country of Chile, the area in dispute, and is the third of its fish production.
If Peru obtained the sovereignty of the area would be allocated 20% of the volume of production for direct human consumption and the remaining 80 % for industrial fishing. Among the species that focus on most in the area are mackerel, anchovies, tuna and parrot .
They are currently thirteen Peruvian fishing vessels are detained in Arica for having entered the area remains in dispute with Chile to perform fishing operations.
On January 7th, 2014, Copeinca ASA ("Copeinca") completed the second fishing season for 2013, successfully catching 100% of its quota. Copeinca processed 15.6% of the Total Allowable Catch ("TAC") of 2,304,000 MT, out of which 10.7% came from its own catch and 4.9% from third party fishing companies. Total production for the season was 80,817 MT of steam dried ("SD") fishmeal and 11,569 MT of fish oil.
For the full 2013 fishing season, the Company processed 15.1% of the TAC of 4,354,000 MT, out of which 10.7% came from its own catch.
Copeinca produced 152,000 MT of fishmeal and 26,066 MT of fish oil. 100% of fishmeal production was of SD standard, with a yield of 24.9%. Fish oil production had a 3.7% yield, making the total yield 28.6%.
LIMA -- China's biggest bank is planning to start operations in Peru in February as it looks to profit from the growing presence of Chinese firms that have snatched up natural resources in the Andean country.
The Industrial and Commercial Bank of China Ltd., known as the ICBC, said Wednesday that its office in Lima will focus on corporate banking by providing financing to Chinese companies operating in Peru, as well as working with Peruvian exporters that want to do business in China and other Asian countries.
The ICBC is the first Chinese-owned bank to enter Peru's financial sector, where it will compete with Banco de Credito del Peru, the country's largest bank by assets. Other leading banks in Peru are Spain's BBVA Banco Continental, Canada's Scotiabank, and Peru's Interbank.
Chinese interest in Peru has also extended to the energy and fishing sectors. In November, China National Petroleum Corp., China's largest integrated-oil and natural-gas producer, announced a $2.6 billion deal to acquire the oil-and-gas assets in Peru of Brazil's Petroleo Brasileiro SA.
Other Chinese acquisitions of Peruvian assets last year included China Fishery Group Ltd.'s purchase of Peru's Copeinca ASA, which is the world's third-largest fishmeal and fish-oil producer. Peru is the world's biggest producer of fishmeal, which is used in fertilizer and animal feed.
On 11th October, Mr. Isaac Finger has been appointed CFO of Copeinca ASA.
Mr. Finger has a Bachelor's degree in Industrial Engineering with a Master's Science Degree in Finance from Rochester University, New York, USA. He has vast experience at the position of CFO in various industries such as mining and fishery, among others.
"Copeinca thanks Mr. Chiri Gutierrez for his contribution to the company during his tenure as CFO, and wishes him success in his future endeavours," says Jose Miguel Tirado, CEO of Copeinca ASA.
Reference is made to the announcement dated 24 June 2013 regarding the conditional share purchase agreement entered into between Golden Target Pacific Limited, Dyer Coriat Holding S.L. (DCH) and Weilheim Investments S.L on 21 June 2013, for the acquisition of shares in Camposol Holding Plc by DCH and Weilheim from Golden Target.
Pursuant to the Agreement, DCH, having notification duties as primary insider of Camposol, has purchased on 2 Sept. 2,704,080 Camposol shares from Golden Target. The sale price for each share is USD 3.10 as further described in the announcement made on 24 June 2013.
"Copeinca recognizes and values Mr. Trapunsky for his contribution and dedication to the company, which was crucial for the company's growth and consolidation in the industry. He held various positions throughout the years; from Operations Officer back in 2004, to Deputy CEO in 2008 and CEO since 2011, positions in which he managed all of our operations such as harvesting, production, logistics, sales, shipments, safety, quality, maintenance and other projects. We take this opportunity to thank him and wish him all the best on his future endeavours", says Samuel Dyer Coriat, Chairman of Copeinca ASA.
In reference to the announcement released on 29 April, 2013 regarding the first fishing season 2013. Copeinca successfully completed its first fishing season's quota.
Total capture was around 1,950,000 MT, which represents around 95 per cent of the total quota. The Company processed 15.2 per cent of the total Peruvian quota, of which 10.7 per cent came from own fleet and 4.8 per cent from third parties.
Copeinca produced 71,000 MT of fishmeal and 14,500 MT of fish oil. Fishmeal production had a 23.7 per cent yield while fish oil production had a 5.1per cent yield. The total production yield was 28.8 per cent.
In reference to the current voluntary offer from China Fishery Group Limited (CFLG) for all the outstanding shares of Copeinca made by its indirect subsidiary Grand Success Investment (Singapore) Private Limited at NOK 68.17 launched on 16th July 2013, which values the entire share capital of Copeinca ASA at NOK 4,786 million, and which offer period commenced on 17th July 2013 and ends on 31st July 2013 at 21:00 hours (CET) (subject to extension).
MKB Invest AS, an investment company wholly owned by Mimi K. Berdal, a director of Copeinca ASA, accepted on 18th July 2013, CFGL's offer for his own shareholding, which amounts to 9,000 shares.
In reference to the current voluntary offer from China Fishery Group Limited (CFGL) for all the outstanding shares of Copeinca made by its indirect subsidiary Grand Success Investment (Singapore) Private Limited at NOK 68.17 launched on July 16th 2013, which values the entire share capital of Copeinca ASA at NOK 4,786 million, and which offer period commenced on July 17th 2013 and ends on July 31st 2013 at 21:00 hours (CET) (subject to extension).
Mr. Pablo Trapunsky, CEO of Copeinca ASA, accepted on July 19th 2013, CFGL's offer for his own shareholding, which amounts to 4,000 shares.
This statement is made by the Board of Directors of Copeinca ASA in connection with the new voluntary offer from China Fishery Group Limited (CFGL) for all the outstanding shares of Copeinca made by its indirect subsidiary Grand Success Investment (Singapore) Private Limited. This statement is made pursuant to Section 6-16, cf. Section 6-19 of the Norwegian Securities Trading Act of 2007.
On 16 July 2013, the Offeror announced the launch of the New Offer through an offer document dated 16 July 2013 submitted to Copeinca's shareholders.
The price in the New Offer is NOK 68.17 per share of Copeinca, payable in cash. The New Offer Price values the entire share capital of Copeinca at NOK 4,786 million.
A new development in algae-based biofuel United States
A team of researchers from Michigan State University have devised a new technological device intended to further develop algae-based biofuels, which has become the world’s first standard algae growing platform.
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