SANford Chart

[BlackPeter]

I have ended up with quite a bit of SAN in recent months so particularly disappointing they seem to be breaking the rules in a such a blatant way.

https://www.stuff.co.nz/environment/...protected-area

Lack of education for the skipper or just greed?

Good question - Sanford is (as many other companies) the home of the hypocrites. Just another bunch of people saying one thing (https://www.sanford.co.nz/sustainabi...es-management/) and doing something else. I still remember their howling when they made CRP's life difficult (who wanted to get a permit for some bottom trawling) ... but as long as it is Sanford themselves destroying habitats (and without permit) it obviously must be o.k.?

Having said that - the incidents lie 3 to 4 years back .. and they well might have caught only what they would have caught as well with a watchdog present. I doubt they will lose their boat over that, but it would be good if they get motivated to not just police others, but stick to the rules as well.

A little bit of honesty sometimes can go a long way ... just another black spot on Volker's spotty vest ...

[iceman]

I have ended up with quite a bit of SAN in recent months so particularly disappointing they seem to be breaking the rules in a such a blatant way.

https://www.stuff.co.nz/environment/...protected-area

Lack of education for the skipper or just greed?

Not lack of education. This is a highly experienced skipper and no excuse for this in my view. Worst of all, not even a slap on the wrist for him from SAN.

On a different issue, I was critical on this thread when SAN bought the San Granit a couple of years ago, basically an old heap of ****e despite the glowing commentary from management.
The vessel has continued to be an absolute disaster for the company with extremely poor catches compared to similar Talley's or Sealord's vessels, terrible accidents onboard and ongoing huge expenditure of money to try to fix it. All to no avail.
I have heard that they are now about to go into a major refit of the vessel with a budget of $12-13 million.
This is completely nuts. They've spent more money on this very poorly performing vessel than it is worth.

[Marilyn Munroe]

million.
This is completely nuts. They've spent more money on this very poorly performing vessel than it is worth.

Does the hull insurance cover barratry by shareholders? If so shareholders could bribe a school of sardines to ram the vessel and sink it.

Boop boop de do
Marilyn

[ratkin]

Bottom trawling never a good idea, especially when hiding it from shareholders (footnote on page 134 of annual report)

Just finishing watching a great series on British TV about trawlerman from my hometown in Cornwall. There are so many head winds in the industry that it seems virtually impossible to make a dollar without breaking some regulation or other.

The situations is only going to deteriorate as focus on creatures moves from catching them to preserving them.

[Sideshow Bob]

Update on San Waitaki Sentencing - NZX, New Zealand’s Exchange

Update on San Waitaki Sentencing

2/2/2021, 2:01 pmGENERAL2 February 2021
NZX Continuous Disclosure
Update on San Waitaki Sentencing
Sanford wishes to update the market in respect of the current court case in which Sanford has pleaded guilty to the charges of bottom trawling in a BPA (Benthic Protected Area), noting that the judgement is still pending.
In our Integrated Report for the year ended 30 September 2020, this matter was disclosed on page 30 (see the online version) and additionally described in the Contingent Liability note 21, (page 134), which reads:
“The company has entered a guilty plea to three representative charges of the San Waitaki vessel found to be bottom trawling in a benthic protection area. Sentencing is now expected in 2021. Aside from the fine, which is covered by insurance, the offence also carries potential forfeiture of the vessel and the related catch. The company believes there is a strong argument in support of ”special reasons” justifying non- forfeiture of the vessel and catch, which is a matter for the Court to determine. The Directors have concluded, based on legal advice, that there is no requirement to recognise a liability for the forfeiture of the vessel and catch at balance date”.
Fishing by our vessel in this area was unintentional. In the time since these incidents we have put new processes and technology in place to prevent something like this happening again. We have developed and applied a robust method of electronic geo-fencing which will sound an alert on board a vessel if it should stray close to the boundary of any BPA.
The vessel is currently bonded back to us whilst the matter is considered by the courts. We respect the court process and will provide more information as soon as that process allows.
For further information, please contact:
Fiona MacMillan
GM Corporate Communications

[Monarch]

I guess we will have to hope the judge is feeling lenient. Poor Peter is going to have his work cut out for him it seems. This ship has sunk like a stone since the day I bought in and it would be nice to see some good news for once .

[ralph]

I guess we will have to hope the judge is feeling lenient. Poor Peter is going to have his work cut out for him it seems. This ship has sunk like a stone since the day I bought in and it would be nice to see some good news for once .

The indications are good for the ship to set sail again with a new admiral particularly in a industry that is based on quotas ,and these are going out of fashion

[Monarch]

The indications are good for the ship to set sail again with a new admiral particularly in a industry that is based on quotas ,and these are going out of fashion

Hopefully he accelerates the expansion of the aquaculture side of the business. A govt buyout of quota could be a great way to finance some new salmon farms

[iceman]

Hopefully he accelerates the expansion of the aquaculture side of the business. A govt buyout of quota could be a great way to finance some new salmon farms

I know we have a Government willing to get involved in all sorts of stuff rather than let private businesses do it but can not see them buying fishing quota anytime soon and sincerely hope it will never happen !!
Aquaculture will never replace wild fisheries and is equally risky.

[ralph]

https://whatsoninvers.nz/sanfords-co...-salmon-farms/
New forms of aqua culture are the way to go to feed the worlds appetite for seafood apart from just keep raising the prices for the wealthy .