“Marine Harvest Shipping”?
Marine Harvest has revealed today that it is to consider expanding its business activity into creating service vessels for its farming operations.
It appears that the company, which has recently added feed production and value-added processing facilities to its core farming business, is intent on becoming an increasingly integrated, self-sufficient behemoth.
A press release issued by the company explains: “There are a substantial number of vessels operating in connection with Marine Harvest today. These vessels are for example work boats, well boats and feed boats. The biological situation in Norway and our other Farming Regions, makes well boats an integrated part of the value chain. Vessel use in salmon farming systems is increasing in significance due to increased smolt transportation, sea lice, grading of fish, freshwater treatments and harvesting; as a consequence we see significant scope for integration in this area of our operations.
Marine Harvest sees this as an opportunity to streamline production and cut costs associated with the area. The profitability in the segment and the expected return is good, and the timing is favorable for such a new business activity. The Board of Directors has therefore requested the administration to evaluate the business area ‘Marine Harvest Shipping’. The business area will be
supported by existing corporate group functions and will be developed gradually through organic growth. Marine Harvest will now explore in detail the options within this business segment and we will hire a COO within ‘Marine Harvest Shipping’ in 2016.”
