Ocean50 - November 15, 2023

Canceled anchovy season in Peru weighs on Austevoll Seafood.

Nov 15, 2023

Austevoll seafoods was the worst performing stock in the Ocean 50 today on the heels of disappointing earnings.

The cancelled anchovy season in Peru earlier this year is mentioned first thing in the earnings call as the most impactful part of the earnings disappointment. This was the first time Peru has resorted to this measure since 2014 and is directly related to El Nino-related water temperatures.

This diverged a bit from what we saw from other companies in the seafood segment that reported strong earnings last week. This highlights the volnerability of these companies to local conditions as opposed to overall seafood supply and demand.

Peru’s anchovy shortage weighs on Norway’s Austevoll - Undercurrent News

Canceled Peru anchovy season costs industry $1 billion; fishmeal plants shut down for first time in 30 years - IntraFish

“analyses of scientific survey fishing conducted in May found that the condition of the anchovy population was even worse than had been feared. Most anchovies in the area were small, with many of them being juveniles.”

Peru Cancels First 2023 Anchovy Season – Highlights Need for Diversifying Omega-3 Supply Chains

Ocean50

Ocean50 - November 7, 2023

Doug Stetzer

November 7, 2023

Seafood companies led the way in the Ocean50 with fishing giants Maruha Nichiro and Daisui reporting earnings. Perhaps the fallout of Chana’s ban on Japanese seafood imports was not as bad as expected. Daisui led the Ocean50 gainers today. Although if anyone can translate

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Top 5 Performers (%)

010140.KS Samsung Heavy Industries Co., Ltd. 7,530.00 +360.00 +5.02%

CCL Carnival Corporation & plc 14.57 +0.68 +4.90%

NCLH Norwegian Cruise Line Holdings Ltd. 14.68 +0.65 +4.63%

010620.KS Hyundai Mipo Dockyard Co., Ltd. 75,900.00 +3,100.00 +4.26%

2615.TW Wan Hai Lines Ltd. 47.85 +1.75 +3.80%

Bottom 5 Performers (%)

FTI TechnipFMC plc 21.23 -0.31 -1.44%

1333.T Maruha Nichiro Corporation 2,782.00 -48.00 -1.70%