Almost three weeks after the supply shortage situation of liquid oxygen (LOX) to the US facility was reported, Atlantic Sapphire is back to the normal.
The oxygen shortage caused a crash in the landbased salmon farmer’s stock price, and Atlantic Sapphire has the last weeks been traded at the lowest levels since the IPO back in 2018.
In response to the shortage in the US market and negative effects on the operations of Atlantic Sapphire, management took precautionary measures both to reduce its oxygen consumption and to engage in alternative supply sources, in order to avoid putting its biomass health at risk.
Over the last days, the company has been able to secure additional LOX deliveries through multiple different sources, including Miami-Dade County, its original oxygen supplier and three additional out-of-state sources of LOX.
With the current schedule of LOX deliveries and supply chain
redundancies in place, the company has been able to increase feeding to normal levels across all its fresh and saltwater systems. Although the company will continue to monitor the LOX situation closely, it expects to be in normal production going forward, according to an announcement from Atlantic Sapphire.