Dongwon Industries Raises USD343 Million in Highly Successful Bond Issuance

Dongwon Industries, a leading South Korean conglomerate, has successfully issued corporate bonds worth 200 billion won on Jan. 15. The issuance, which included 140 billion won in three-year bonds and 60 billion won in five-year bonds, was met with overwhelming investor demand, attracting a total of 765 billion won — more than seven times the initial target amount of 100 billion won.

The high demand for the bonds allowed Dongwon Industries to increase the issuance size to 200 billion won and lower the interest rates. Both the three-year and five-year bonds met their targets at a level 0.15 percentage points lower than the private bond evaluation rate, reflecting strong investor confidence in the company's financial health and future prospects. Continue reading here (Source: Business Korea).

PNG Eyes Downstream Processing of Tuna Stock

Papua New Guinea will be looking at having its tuna stocks to be processed onshore instead of shipping it overseas.

This was the comment made by Prime Minister James Marape following his trip to Palau last week.

Mr Marape, National Capital District Governor Powes Parkop and Minister for Fisheries and Marine Resources Jelta Wong, were in Palau to witness the inauguration of Palau's President Surangel Whipps Jr into the country's 15th constitutional parliament. Continue reading here (Source: PNG Post-Courier).

Boardroom Battle Over: Alliance Select, Singaporean Shareholders Reach Compromise

Tuna canner Alliance Select Foods International Inc. (ASFII) has reached a compromise agreement with its Singaporean minority shareholders and former board directors after more than 10 years of legal disputes.

In a disclosure to the Philippine Stock Exchange (PSE), ASFII said it entered into the agreement with shareholders Hedy S.C. Yap-Chua, Harvest All Investment Limited, Victory Fund Limited, Bondeast Private Limited, and the estate of Albert Hong Hin Kay.

Continue reading here (Source: Manila Bulletin).

The Western and Central Pacific Tuna Fishery: 2023 Overview and Status of Stocks

It comes out a few weeks later than usual, yet SPC’s flagship tuna publication, “The Western and Central Pacific Tuna Fishery: 2023 Overview and Status of Stocks,” is out.

The publication always has well-crafted graphs and tables (Plus now pictures, many of them mine), with some information immediately apparent and others requiring closer reading.

The news still talks about the collapse of tuna fisheries in the Pacific, that the (name your geopolitical nemesis, i.e., China, the US, Korea, Japan, EU, etc.) are taking all the fish, that the regional management organisations are secret, that we need eco-labels to know if fisheries are sustainable, and so on. So… Do you want to rely on the multimillion-dollar spin industry for information, or do you prefer to read a document that links all the scientific evidence supporting their claims? Continue reading here (Source: Francisco Blaha).

NOAA Designate 18th National Marine Sanctuary

NOAA is designating the marine portions of Papahānaumokuākea Marine National Monument, a 582,570 square-mile area in the Pacific Ocean, as America’s 18th national marine sanctuary. Papahānaumokuākea National Marine Sanctuary will be the largest sanctuary in the National Marine Sanctuary System, and is one of the largest marine conservation areas in the world. 

Located in the Northwestern Hawaiian Islands, Papahānaumokuākea National Marine Sanctuary will provide additional ways to manage and protect the area’s nationally significant biological, cultural and historical resources. Continue reading here (Source: NOAA).

First-Ever USTR Strategy to Combat Forced Labor Prominently Features Seafood Supply Chain

The United States Trade Representative (USTR) recently released its first-ever Trade Strategy to Combat Forced Labor, which covers the seafood supply chain and illegal, unreported, and unregulated (IUU) fishing prominently.

The USTR said the new strategy is the first time the U.S. has ever laid out a comprehensive approach to using trade tools to combat forced labor in supply chains. USTR Ambassador Katherine Tai said the new strategy is intended to use trade as a tool to reduce and eventually end the presence of forced labor in the U.S. supply chain. Continue reading here (Source: SeafoodSource).

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