AUSTRALIA – Clean Seas is experiencing strong growth with its new season Kingfish. Development rates are the best the company has produced in recent years.
The 2013 season Kingfish fingerlings are approximately halfway through their lifecycle since being introduced in November last year and have recorded average fish weights of 1.6kg from leading pens more than double the average fish weight recorded by the 2012 season fingerlings at the same time last year.
Survival rates have also greatly improved this season with a 92.5 per cent survival rate for the 2013 Kingfish fingerlings compared to this time last year when the survival rate for the 2012 fingerlings was only 47.2 per cent.
Clean Seas CEO, Dr Craig Foster, said the company is buoyed by the results.
“Our new season Kingfish fingerlings are in extremely good health and are recording higher body weights than previous years which is really pleasing,” he said.
“Survival rates have also been consistently strong over their lifecycle, and in fact are the strongest we have produced in recent years.”
As a result of the impressive performance of the new season Kingfish fingerlings, Clean Seas has confirmed it will take the next step in its growth strategy to lift annual Kingfish production from 500 tonnes to between 1,100 and 1,500 tonnes by 2015.
“Our short-term goal is to boost Kingfish annual production from 500 tonnes to 1,500 tonnes by 2015, while our five-year production target remains 3,000 tonnes per annum,” said Dr Foster, adding
that demand for Clean Seas Kingfish remains strong with farmgate prices above $14 per kilogram.
The interim results for Clean Seas 2013 Kingfish fingerlings follow the companys announcement in May that a recent renounceable entitlement issue had closed fully subscribed raising a total of A$3,607,907 (excluding fees and commissions) to further invest in building Kingfish production.
“Our key performance measures are ahead of target and the overall performance is consistent with our strategy to re-focus and re-build a profitable business based on sustainable Kingfish production,” Dr Foster said.
TheFishSite News Desk
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The Big news today is that as of early January 2013, Big Nutrition will supply Clean Seas Tuna with its yellow tail king fish feed.
The company which is the largest and most succesfull king fish farm in Australia, up until recently had been struggling to identify the cause
of a mystery illness which had devastated much of their king fish stock. As reported in various publications including The Australian, Adelaide Now and Channel 9’s morning program segment “a minute on your money”, the company believes that a deficiency in the essential amino acid Taurine in the feed is responsible for the poor growth and survival of its fish stocks.
According to Clean Seas Tuna, since adding taurine to the diet, the company has seen significant growth and health improvement across the farm and has now engaged Big Nutrition to supply Clean Seas Tuna with its grow out diets. Our formulation, which was developed in conjunction with a number of successful Japanese King fish farms is manufactured using the highest Land Animal Protein Free ingredients with the addition of synthetic taurine as standard.
This morning, Clean Seas Tuna’s latest ASX announcement confirms the securing of an alternate feed supplier from its former two Australian feed suppliers pending ongoing negotiations for the alledged damages suffered due to the feed deficiency.
We look forward to supplying Clean Seas Tuna with the highest quality King Fish diet available in the Southern Hemisphere.
IT WAS the feed all along, it seems. Pioneering aquaculture company Clean Seas Tuna has sought compensation worth tens of millions of dollars from two suppliers for the loss of kingfish devastated by the deficiency of an amino acid, taurine, in their feed.
Chief executive Craig Foster said Clean Seas had issued formal dispute notices to its two major feed suppliers after getting independent legal advice and assessment of kingfish feed protocols in Japan.
”The board has determined to invoke formal dispute resolution procedures with both feed suppliers to attempt to find a commercial compromise of the claims the company considers it has against both suppliers,” Mr Foster said.
Clean Seas would not identify those companies it had notified, but industry sources said listed Ridley Corporation and Tasmania’s Skretting were the two major feed suppliers in Australia. Neither Ridley nor Skretting returned calls yesterday.
Mr Foster said it had taken months to determine the cause of the kingfish deaths that struck Clean Seas this year, after two years of poor performance. By adding taurine to the feed, he said, ”simply, empirically, we can see we’ve reversed the whole health problem”.
Clean Seas shares have been in a prolonged slump and have fallen from a high of 8.3¢ in February to 2.4¢ at Wednesday’s close.
Mr Foster said the dead fish stock was worth only a few million dollars but there was also lost productivity from the fish that did not go on to grow.
He would not quantify the total damages claim but said it was ”tens of millions of dollars”. He said further independent testing would be needed. At this stage blaming the feed deficiency was ”only our opinion”.
Clean Seas also said it had achieved early spawning of its southern bluefin tuna brood stock and was confident of achieving viable fingerlings for the transfer to sea cages in December.
BBY analyst Dennis Hulme welcomed as ”very positive” both announcements, on the feed deficiency and tuna propagation. Clean Seas could now ”get back to being a money-making business … [and] potentially a takeover target,” he said.
The Age Newspaper 14/11/12
Read more: http://www.theage.com.au/business/aquaculture-pioneer-goes-fishing-for-compensation-20121114-29cmi.html#ixzz2CLLPQ4oK