NEW FISHING SEASON
Oceana’s US subsidiary Daybrook reports record landings
CEO Imraan Soomra reports a phenomenal start to the season
Fishing giant Oceana Group says its US fish meal and fish oil subsidiary Daybrook has got off to a cracking start in its new fishing season. At an investor presentation on Friday, acting CEO Imraan Soomra said Daybrook’s new fishing season, which started in mid-April, had experienced record landings of Gulf menhaden (the species used for fish oil and meal) in the fourth week. "It’s been a phenomenal start to the season," Soomra said. "It’s early days, but we hope these landing levels will continue." Daybrook is based in Louisiana and can be susceptible to disruptive weather during that region’s hurricane season. Soomra believed Daybrook would also benefit from off- season capital spending of $2m on efficiencies and throughput at the production plant. Management expected an improvement on fish meal and oil prices compared with 2017, with oil yields expected to improve markedly to 11%-13% (2017: 7%) and the meal yield holding steady, he said. Earlier in 2018, respected fishing industr...
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