Vélfag lays off entire workforce
Having lost its case against the Icelandic state at district court level, high-tech processing systems producer Vélfag is preparing its appeal, stating that the court ruling was unexpected. This latest…
Vélfag in temporary shutdown
Icelandic processing equipment supplier Vélfag has been forced into a shutdown following a decision by the Ministry of Foreign Affairs to end its suspension from sanctions. Staff have been sent…
Vélfag’s future hangs in the balance
Icelandic tech company Vélfag, which produces a range of systems for both shore-based and at-sea processing, has been granted a few days’ grace in its efforts to get sanctions lifted.…
Norway follows EU lead to sanction Russian seafood companies
The Norwegian government has decided to list two Russian fishing companies Norebo JSC and Murman Seafood. With this decision, Norway aligns itself with the sanctions adopted by the EU on…
Reviewing Europe’s tools for addressing unsustainable fishing of common stocks
The European Commission is proposing a revision of the EU tools designed to address unsustainable fishing practices by non-EU countries on fish stocks of common interest. According to the Commission,…
Pingtan’s 6 large-scale squid jigging vessels leaving Mawei Port on December 17, 2020.
US identifies Chinese fishing companies for human rights abuses
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has identified individuals, companies and vessels in the People’s Republic of China (PRC) for sanctions, due to human…
Tariff on Russian whitefish will push up UK seafood prices
A new tariff of 35% is levied on imports of Russian whitefish to the UK, as of this week, with the potential to push up UK seafood prices – as…
Wärtsilä has taken a substantial financial hit in pulling out of the Russian market following the invasion of Ukraine. Image: Wärtsilä
Wärtsilä writes off €200 million by leaving Russian market
Technology group Wärtsilä suspended all deliveries, sales, orders, and bidding to Russia following the invasion of Ukraine, and is making provision for approximately a €200 million shortfall in its Q1…
Russian seafood entering the UK market
The Environmental Justice Foundation, a London-based NGO, has pointed the finger UK retailers as having the power to prevent seafood imports from Russia entering the UK market. EJF points out…
