SANford Chart

[Dassets]

No all between HKG and other port

[Dassets]

I think the Dec 22nd annoucement is outdated? CX are running 3 flights per week AKL-HKG through Jan on days 7,1,2.

And regarding Dubai are you referring to the CHC-DXB services which stopped in November? EK are still running daily flights out of AKL throughout Jan.

EDIT: I wouldnt be too hard on the aviation and export sector just yet. The real test is going to come when the latest round of the IAFC scheme comes to an end in March/April and we see if the government expects the industry to finally stand on its own two feet or not.

Operating carrier	From ✈ To	Flight number	Departure time	Arrival time	Frequency	Operating dates
Cathay Pacific	Auckland to Hong Kong	-	-	-	-	Not operating in Jan
	Hong Kong to Auckland	-	-	-	-	Not operating in Jan

From the Cathay NZ site. Maybe the flights you are talking about are the code share flights with Air NZ. Agree about IAFC and all the other direct subsidiaries with certain airline/s.

[Sideshow Bob]

Start of Post-Pandemic Recovery, but Omicron Impacts Ahead - NZX, New Zealand’s Exchange

Sanford Sees Start of Post-Pandemic Recovery, but Omicron Impacts Ahead

New Zealand seafood company Sanford Limited (NZX:SAN) has released a first quarter update for 2022, showing improvements in sales volumes and prices for the period, consistent with the company’s expectations.

Sales volumes are up 11% versus Q1 2021. Other notable results include:

• Pricing improvements in the wildcatch division (see graphs attached for divisional details), but lower sales volumes on the prior comparable period (pcp), down 12%. Volume impact in wildcatch offset by favourable pricing, up 24%.
• Strong customer demand for Greenshell mussels saw pricing in this division up 12% versus pcp and sales volumes up 30%.
• Strong demand in key markets sees salmon sales volumes up 47% versus pcp. Have also cleared remaining frozen stock in this period.

CEO Peter Reidie says “this is a good result, which shows that things are improving in a way that is meeting our expectations. We continue to face supply-side challenges around access to labour and freight costs. Looking ahead, there are additional challenges posed by Omicron.

“These challenges will likely be operational, where the last two years have been defined by suppressed demand. Now demand is recovering in many of our markets, but we are preparing for further disruption in local supply chains and for labour issues in a tight labour market.”

Mr Reidie says Sanford is focusing on the challenges the company can control, which includes having a fully vaccinated workforce, operating teams in bubbles wherever practicable and having plans in place to manage the absence of key individuals.

Sanford is also acknowledging challenges outside of the pandemic, such as rising ocean temperatures, which can impact aquaculture operations.

Mr Reidie says “we have seen warmer-than-usual waters in our Big Glory Bay salmon farm for January. This has had some impact on salmon mortalities, although these were not outside the previous three year’s average for this month. We are managing this carefully with lower stocking densities and additional aeration in all our salmon pens. However, the period ahead from March to May is traditionally a critical one for oxygen levels and algae, so we will continue to monitor and manage carefully.”
Sanford is exploring options for its crayfish quota, which it fishes and manages through third parties, which may result in its sale. It intends to reach a decision before the April start of the quota year for that species.

Sanford also confirms it is on track to communicate the results of its strategy refresh by June, as previously announced.

[kiora]

"Drugs on deck: Meth abuse hampers use of fisheries observers"
https://www.stuff.co.nz/national/cri...ries-observers

[BlackPeter]

"Drugs on deck: Meth abuse hampers use of fisheries observers"
https://www.stuff.co.nz/national/cri...ries-observers

To be fair - you should have highlighted the part of the article which relates to Sanford if you post such generic allegations into the thread of one specific company:

So, yes Sanford had ONE accident which involved one staff member (Mr. Stewart) taking meth, though it was never determined that meth was causing this accident.

Following Stewart’s death, Sanford now test every deepwater crew member on every voyage. “Sanford has a “zero tolerance” drug and alcohol testing policy aimed at keeping our people safe at work,” general manager of fishing Colin Williams said. “As well as procedures like post-incident testing as-standard across the business, we have a 100 per cent testing policy for all our crew members out of our Timaru deepwater base. This covers hundreds of our share fishers.

“Everyone is tested prior to the commencement of each voyage. They themselves have welcomed this policy because everyone understands it’s about safety.”

Sounds like they do everything right.

[Ferg]

I see Masfen Securities have lifted their stake from 6.3% to 7.5%. Disclosed today:
https://www.nzx.com/announcements/388759

[ronaldson]

I believe this comment does not apply to Sanford, but does to more than one other large fishing entity operating in NZ, and that is the practice of using fly in/fly out Russian crews on larger offshore vessels based here. Given the situation in Ukraine, and the widespread imposition of sanctions, it is difficult to see how that circumstance can continue, and that may be significantly disruptive across the industry.

[iceman]

I believe this comment does not apply to Sanford, but does to more than one other large fishing entity operating in NZ, and that is the practice of using fly in/fly out Russian crews on larger offshore vessels based here. Given the situation in Ukraine, and the widespread imposition of sanctions, it is difficult to see how that circumstance can continue, and that may be significantly disruptive across the industry.

Agreed. Some of the vessel managers are very concerned as some of the vessels have mixed Russian-Ukranian crews. A real tinder box.
You are correct that Sanford does not have Russian or Ukranian fishermen working for them.
Surely our sanctions should include arresting the Russian owned ships, canceling charter contracts, sending the crew home and cancelling their visas.

[iceman]

The quota asset sales continue https://www.directbroking.co.nz/Dire...spx?id=6009275

Very sad to see this asset rich company not having the skill to maximise the benefit from these valuable assets and getting rid of them to fund a badly managed business

[ronaldson]

Announced today to NZX that Sanford selling down crayfish quota in the deep south, with more to come ( CRA2 - where is that located? ). Value to be " reinvested in the business ". While $49.3m stated as total consideration from the sale so far the announcement is silent as to the value of that quota in the current financial statements, presumably under " Intangibles ".

Surprised that now that Ngai Tahu is a significant holder this further privatisation has occurred as I would have thought that action was counter to their long term aspirations. I recall that Sanford relatively recently divested Pelagic quota being fished out of Tauranga, so effectively we have a major fishing entity selling down to focus on growing their salmon and mussels business. The NZK troubles over an extended period are a flag warning that isn't an easy ask!