Alliance buys 6 fishing vessels for tuna supply

MANILA, Philippines – Seafood producer Alliance Select Foods International Inc. has acquired six commercial tuna vessels worth $15 million, giving the company better control of fish supply such as for its canned tuna processing plant in General Santos City in Mindanao.

In a disclosure to the Philippine Stock Exchange on Monday, Alliance said it had acquired the vessels from BSJ Fishing & Trading Inc., fully settling the latter’s obligation to the company for fish deposits.

“With the acquisition of the fishing vessels, ASFII expects to ease its dependence on fish suppliers for its tuna business as it will give the company direct access to raw materials,” ASFII spokesperson Rajat Balain said.

Balain said this moves another step by ASFII in the direction of “vertical integration,” following the incorporation in May 2012 of PT Van de Zee, an Indonesian fishing company which is 80 percent owned by the company’s Indonesian subsidiary PT IAFI. This offshore unit has already secured a fishing allocation from the Indonesian government.


To make comments, you will need to register. You can register under your real name or use a 'screen' name. This way, people will be able to follow comments and make comments back and forth to each other. If you choose to use a 'screen name' no one will know your true identity. In either case, no email addresses will be available to anyone. It is an automated process. If you have questions, email: webmaster@samoanews.com

You currently are not logged in, please LOGIN to post comments.