Mowi takes €5 million hit from Northern Harvest mass mortality

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Salmon farmer has also reduced 2019’s harvest volume.

In a press release on the Norwegian Stock Exchange on Sunday morning, Mowi has posted the financial cost of the Northern Harvest die off which occurred in September.

“In the wake of recent mortalities of 2.6 million fish (approximately 5,000 tonnes of biomass) on the Coast of Bays, Newfoundland, Canada, Mowi Canada has been informed by the Department of Fisheries and Land Resources of Newfoundland and Labrador that 10 licenses out of Mowi Canada’s 47 licenses in Newfoundland have been temporarily suspended. Mortalities were caused by prolonged high seawater temperatures that created low oxygen conditions, ” it wrote.

“All licenses suspended are related to sites experiencing these mortalities. The suspension will to our knowledge not impact our remaining operations in Newfoundland.

Read more: Northern Harvest Sea Farms Managing Director: “2.6 million fish (approximately 5,000 tonnes of salmon) are expected to be removed as mortalities from sites”

“The fish mortalities were insured. Net one-off costs to be recognized in Mowi Canada in the third quarter amounts to approximately EUR 5 million. The impact on Mowi’s harvest volumes for 2019 is expected to be a reduction of approximately 1,000 tonnes GWT.

“Mowi Canada holds in total 59 licenses in Canada East, of which 47 in Newfoundland and 12 in New Brunswick”.