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Clean Seas' yellowtail kingfish illness strongly impacted on the company's profits. (Photo: fisheries.nsw.gov.au/ FIS)

Clean seas incurs losses from kingfish

Click on the flag for more information about Australia AUSTRALIA
Monday, February 13, 2012, 23:40 (GMT + 9)

The yellowtail kingfish population is ill and has been incurring losses for Clean Seas Tuna, which will be reflected in the company’s full-year financial results.

In addition, Clean Seas' cost-cutting measures are paying dividends and should lead to a smaller half-year loss than in the year prior. The first-half results set to be released later this month will report a pretax loss roughly 40-50 per cent smaller than its AUD 13.3 million (USD 10.1 million) loss in first half 2010-11, the company communicated in a statement.

Regarding the loss-producing yellowtail kingfish business, chief executive Craig Foster told that it is under review and Clean Seas was making progress getting it under control. He noted that unusually dismal weather had caused the caged fish to develop health problems -- specifically, enteritis, an infection of the intestine causing symptoms including diarrhoea -- that would impact full-year results, however he said it is too soon to say how strongly.

"It is a disease that we have not experienced before", Foster stated, ninemsn reports. "We have had it diagnosed and we are going to treat it and we hope that we will control the problem."

In terms of southern bluefin tuna, Foster said the firm is taking heartening steps forward in its bid to propagate the species and has resolved issues that were standing in the way of a higher fingerling output.

In early January, the company started spawning tuna eggs in a tank in South Australia hoping they would develop into adult fish it could sell to the tuna-hungry Japanese market.

"There's a huge market there for ordinary grade tuna, but the sort of high-grade tuna that we're trying to produce is somewhere between 50 and 100,000 tonnes a year, and that's the end prize", Craig commented, The Australian reports.

It is a process with which Clean Seas is now familiar, having tinkered with it for years now; however, it has thus far been unsuccessful transporting the eggs from a regulated temperature in a massive holding tank at Arno Bay on the Eyre Peninsula to the cold waters of the Great Australian Bight.

Related article:

-
Clean Seas Tuna progresses with bluefin aquaculture program

By Natalia Real
[email protected]
www.fis.com


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