Tom Seaman

Pescanova owner Abanca has tasked a prolific seafood-centric M&A firm with running the investment process for its French shrimp processing subsidiaries, sources told Undercurrent

The Chinese pollock processing sector is still buying Russian H&G pollock cautiously, even as European Commission seems likely to implement softer-than-expected sanctions

AZ Gems is in negotiations to acquire three red shrimp plants in Argentina and two vessels, with the buyout of a US shellfish importer also still in the works

The European seafood sector is awaiting a clear picture of the direction the EC will take on sanctions on Russia, with reports emerging that fish could be removed entirely

Kaja Kallas, one of the most senior diplomats at the EC, seemed to indicate that fish has indeed been removed from the bloc’s proposed 21st sanctions package on Russia

UK pre-tax loss of £9.35m in 2025, an improvement of 29% y-o-y, was a heavy contributor to a record group loss of DKK 257m, or $39m

‘We hit the ceiling on price before that [the sanctions],’ one Russian seller said, noting stronger demand for H&G haddock

Undercurrent adjusted its week 29 CFR price assessment on 25cm-plus frozen Russian H&G pollock by $35/t following reports from Brussels that fish is off the table in the as-yet-unconfirmed 21st sanction package

EU ambassadors will reconvene on July 22 to discuss the 21st Russian sanctions package, but fisheries remain excluded from it

US pollock sellers have agreed to PBO fillet block deals for Europe in July up $200/t on June amid market uncertainty over proposed European Commission sanctions on Russia, which are now seemingly not happening