News Russia's pm officially putting arkhangelsk trawl fleet up for sale

Russia's PM officially putting Arkhangelsk Trawl Fleet up for sale

COMPANY UPDATE

June 9, 2012 10:37

On 7 June 2012 Russia's PM Dmitry Medvedev approved a draft order on introducing amendments into the state privatization program for the period of 2011-2013 thus making a final decision regarding privatization of the last government-owned fishing combine Arkhangelsk Trawl Fleet - the 10-year quota share holder with more than 20,000 MT of annual cod fishing rights, reports http://www.megafishnet.com/ with reference to the nation's Government.

According to the decision, by 1 September 2012 some 200 small and medium-size companies should be put up for sale. Besides, in first half of June 2012 preparation of sale deals for seven large companies was about to be completed. Those deals are carried out with participation of investment consultants appointed by the Government of the Russian Federation.

The biggest share packages put up for sale include a 55% package of Vanino Marine Trade Port, packages of Murmansk Marine Trade Port and Arkhangelsk Trawl Fleet.

Table 1. OFFSHORE capture quotas of Arkhangelsk Trawl Fleet in 2006-2012

Species / Fishing zone	Quotas of Arkhangelsk Trawl Fleet, metric tons
Species / Fishing zone	2006	2007	2008	2009	2010	2011	2012
Blue whiting	7,404	4,758	3,219	5,864	14,437	-	3,271
Faroese Fishing Zone	-	-	-	-	9,150	-	-
NEAFC	-	-	-	5,864	4,721	-	2,862
Norwegian EEZ	7,404	4,758	3,219	-	566	-	410
Blue whiting (including bycatch of herring (3%) and anchovy (10%))	33,182	29,035	24,887	20,705	-	1,667	10,451
Faroese Fishing Zone	33,182	29,035	24,887	20,705	-	1,667	10,451
Capelin	-	-	-	15,574	11,271	10,246	9,631
areas under international agreements	-	-	-	-	-	10,246	9,631
Barents Sea and Norwegian Sea	-	-	-	15,574	11,271	-	-
Cod	13,211	12,061	11,997	15,650	18,174	21,320	22,766
areas under international agreements	-	-	-	-	-	21,320	22,766
Barents Sea and Norwegian Sea	-	-	-	15,650	18,174	-	-
Russian EEZ	13,211	12,061	11,997	-	-	-	-
Haddock	3,554	4,347	4,533	6,243	7,596	9,578	9,892
areas under international agreements	-	-	-	-	-	9,578	9,892
Barents Sea and Norwegian Sea	-	-	-	6,243	7,596	-	-
Russian EEZ	3,554	4,347	4,533	-	-	-	-
Halibut	68	59	59	70	70	76	72
NAFO	68	59	59	70	70	76	72
Herring	15,367	25,365	29,779	32,858	31,278	22,083	18,256
Norwegian EEZ	15,367	25,365	29,779	32,858	31,278	22,083	18,256
Mackerel	1,398	3,058	2,857	4,231	1,312	-	-
Faroese Fishing Zone	1,398	1,638	1,638	2,583	1,312	-	-
NEAFC	-	1,420	1,219	1,648	-	-	-
Mackerel (including 3% bycatch of herring)	-	-	-	-	-	5,250	2,625
Faroese Fishing Zone	-	-	-	-	-	5,250	2,625
Ocean perch	-	169	-	-	-	-	-
NEAFC	-	169	-	-	-	-	-
Ocean perch of the Irminger Sea	-	-	-	134	140	-	-
NEAFC	-	-	-	134	140	-	-
Pink shrimp Pandalus borealis	-	-	2,118	-	-	-	-
Russian EEZ	-	-	2,118	-	-	-	-
Polar cod Boreogadus saida	11,590	8,414	8,586	-	-	-	-
Russian EEZ	11,590	8,414	8,586	-	-	-	-
Sea scallops	-	-	-	48	46	-	-
Barents Sea	-	-	-	48	46	-	-
TOTAL	85,775	87,264	88,034	101,377	84,323	70,219	76,964

Note: The table has been compiled by FISHNET analysts from official figures of Russia's Federal Fisheries Agency.

ATF's 10-year (2009-2018) quota shares are certainly the most interesting part of the package put up for sale and their value is set to grow further as the rights will most probably be extended from 10 to 20 years after 2018.

Table 2. Сapture quota shares of Arkhangelsk Trawl Fleet for offshore and inshore fishery as well as for fishery in the areas under the jurisdiction of the international agreements of the Russian Federation in 2009-2018

Species	Type of fishery	Fishing area	Share of the capture quota for the species in the area
Polar cod Boreogadus saida	offshore	Barents Sea	15.141%
Capelin	international agreements	Barents Sea and Norwegian Sea	0.000%
Ocean perch	international agreements	International waters of the Northeast Atlantic (NEAFC)	0.493%
Halibuts	international agreements	International waters of the Northwest Atlantic (NAFO)	4.650%
Haddock	international agreements	Barents Sea and Norwegian Sea	7.932%
Blue whiting	international agreements	Norway continental (Norwegian EEZ)	6.032%
Blue whiting	international agreements	Faroe Islands (Faroese fishing zone)	20.914%
Blue whiting	international agreements	International waters of the Northeast Atlantic (NEAFC)	9.905%
Herring	international agreements	Norway continental (Norwegian EEZ)	15.787%
Mackerel	international agreements	Faroe Islands (Faroese fishing zone)	21.004%
Mackerel	international agreements	International waters of the Northeast Atlantic (NEAFC)	5.643%
Cod	international agreements	Barents Sea and Norwegian Sea	7.643%

Note. The table has been compiled by FISHNET analysts from official figures of Russia's Federal Fisheries Agency.

The combine owns a fleet of 21 fishing vessels (middle and large trawlers), a fish processing plant, a developed coastal infrastructure containing port's cargo area, warehouses and coldstores.

Apart from domestic sales, ATF has been successfully operating on the world market exporting cod, haddock, herring, blue whiting and mackerel. It offers not only commodities but also such premium-class products as scallops, cod's tongues and cheeks.

Many of the boats have EU approval and the company has been able to remain profitable, what is not typical for government-owned combines. In particular, it is reported that it made a net profit of nearly USD 1.5 million even in the crisis year of 2009.

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