Latest Fishing News

8 January 2024

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Study Reveals 75% of the World's Fishing Vessels Are Hidden From Public View


new study published today in the journal Nature offers an unprecedented view of previously unmapped industrial use of the ocean and how it is changing.


The groundbreaking study, led by Global Fishing Watch, uses machine learning and satellite imagery to create the first global map of large vessel traffic and offshore infrastructure, finding a remarkable amount of activity that was previously “dark” to public monitoring systems.


The analysis reveals that about 75 percent of the world’s industrial fishing vessels are not publicly tracked, with much of that fishing taking place around Africa and south Asia. More than 25 percent of transport and energy vessel activity are also missing from public tracking systems. Continue reading here (Source: Global Fishing Watch).

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El Nino Bites in the Pacific


Some Pacific nations are feeling the bite of El Niño through dry conditions, while others in drought get relief through above average rainfall.


The southern Cook Islands has received below average rain for the last six months, despite rain last week.


Meteorological Service director Arona Ngari said dry conditions are affecting the whole of the southern group, including Rarotonga.

"What is normal for us is about 100 to 200 millimetres of rainfall per month, but that has actually gone well below 50 percent of the norm," Ngari said. Continue reading here (Source: Radio New Zealand).

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China-Nicaragua Free Trade Agreement Now in Effect, Impacting Bilateral Seafood Trading


The free trade agreement initiated in 2022 between Nicaragua and China went into effect on 1 January 2024.


China promised Nicaragua a free-trade deal in return for it switching diplomatic recognition from Taiwan in December 2021.


The China-Nicaragua Free Trade Agreement frees up 71 percent of the products sent by Nicaragua to China – including  fish, shrimp, lobster, and sea cucumber – from facing tariffs, according to Reuters. Continue reading here (Source: SeafoodSource).

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International Court Extends Timeline For Climate Change Opinion (Again)


For a second time, the International Court of Justice has extended the deadline for submissions of written statements in its advisory opinion on the Obligations of States in respect of Climate Change. At the request of the United Nations General Assembly, the ICJ will determine the existing financial liability of countries for their contribution to climate change. The updated timeline extends the final timeline to mid-2024.


On March 29, 2023, the UNGA asked the ICJ to issue an advisory opinion on the legal obligations of countries in preventing climate change. The opinion, while non-binding, will give an indicator of how the Court may interpret future climate related litigation and guide future legislative development. Continue reading here (Source: Forbes).

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Vietnamese Seafood Exports Face Many Challenges in 2024


The fisheries sector is expected to an output of 9.22 million tonnes of seafood from an aquaculture area of 1.3 million hectares this year.


According to the Department of Fisheries, the seafood export value in 2023 was estimated to reach $9.2 billion, or 92 per cent of the plan, down 8 per cent compared to 2022.


Of this year's export value, about $3.45 billion was from shrimp, $1.9 billion from pangasius, $900 million from tuna, and $800 million from mollusk. Continue reading here (Source: VietNamNet).

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South Korean Fishery Exports Exceed 3 Billion Dollars for Second Year in 2023


The country’s exports of fishery products exceeded three billion dollars for the second consecutive year in 2023, thanks to strong exports of dried seaweed and tuna.


The Ministry of Oceans and Fisheries said on Sunday in a press release that outbound shipments of seafood products reached three-point-04 billion dollars last year.


The figure is the second largest after the all-time record of three-point-15 billion dollars logged in 2022. Continue reading here (Source: KBS World News).

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Chilean Navy Deploys Submarine to Monitor Fishing Activity in the Eastern Pacific


According to the Chilean Navy’s X account (previously Twitter), the submarine conducted an “Oceanic Fishing Fiscalization Operation” (Operación de Fiscalización Pesquera Oceánica, in Spanish), as part of Chile’s efforts to prevent illegal fishing activities that harm the local economy of their population in the Juan Fernández and Rapa Nui islands.


The Chilean Navy currently operates six conventional frigates (one Type 22, two M-class and three Type 23), two Adelaide-class guided-missile frigates, a multirole LSDH, two Batral-class LSTs, and four submarines (two Scorpène-class and two U-209-class). According to the Navy, its diesel-electric Scorpène submarines are among the most advanced SSKs in the world at this moment. Continue reading here (Source: Naval News).

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The EU-Madagascar Fisheries Agreement and its Implementation Protocol Enter Into Force


The Sustainable Fisheries Partnership Agreement between the EU and the Republic of Madagascar  (SFPA) and its implementation protocol (2023-2027) have been approved after the approval of the EU Council. This is stated in the Official Journal of the European Union (OJEU).


The agreement will allow Union vessels to fish in the Madagascar fishing zone and will allow the EU and Madagascar to work closely together to further promote the development of a sustainable fisheries policy and the responsible exploitation of fishery resources in the Madagascar fishing zone and in the Indian Ocean. This cooperation also aims to contribute to decent working conditions in the fishing sector .


The agreement will allow vessels from Spain, France, Italy and Portugal to access 14,000 tonnes of prickly pear and related species per year, of which 220 tonnes are sharks. The agreement will provide fishing access to 32 tuna seiners, 13 surface longliners over 100 tons and 20 surface longliners under 100 tons. In total, 65 ships. The economic consideration amounts to 13 million euros. The EU will pay 1.8 million euros per year, that is, 7.2 for the four years, while the shipowners will pay another 5.6 million in license fees. Continue reading here (Source: Industrias Pesqueras).

Current MGO Price Indications
*Prices are indications only.
Please contact us for firm pricing.
PORT
PRICE

Abidjan, Ivory Coast

USD3.63/gallon | USD959/KL

Balboa, Panama

USD2.85/gallon | USD753/KL

Bangkok, Thailand 

USD3.06/gallon | USD810/KL

Busan, South Korea 

USD2.47/gallon | USD654/KL

Callao, Peru

USD3.39/gallon | USD895/KL

Cape Town, South Africa

USD3.68/gallon | USD972/KL

Cartagena, Colombia

USD2.89/gallon | USD762/KL

Manila, Philippines

USD5.08/gallon | USD1343/KL

Manta, Ecuador

USD3.50/gallon | USD925/KL

Pago Pago, American Samoa

USD3.27/gallon | USD864/KL

Papeete, Tahiti

USD3.55/gallon | USD938/KL

Shanghai, China

USD2.68/gallon | USD708/KL

Tema, Ghana 

USD3.63/gallon | USD959/KL

Tokyo, Japan

USD2.95/gallon | USD780/KL

Current Crude Oil Prices
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