But there is tough competition in the freight segment.
Skretting supplier Eidsvaag holds the position as the largest of the shipping companies that transport salmon feed along the Norwegian coast. With a EUR 25 million in sales, this resulted in an operating profit of EUR 2.3 million last year.
At year-end, Eidsvaag had a total balance of EUR 41 million and equity of EUR 7.8 million.
The feed freight is in a tough competitive environment forcing consolidation. In October last year, the shipping company Artic Shipping was acquired by wellboat giant AquaShip.
“Artic Shipping fits in perfectly with our strategy of building a globally leading player within the broad maritime service segment in the aquaculture industry,” stated AquaShip CEO Sverre Taknes in connection with the acquisition.
Artic Shipping was then one of the largest players in the fish feed freight industry. The company has five self-discharging vessels, operating on TC contracts with Cargill.
Shipowner Bio Feeder’s fleet carries feed for most of the players.
“We have two boats on TC (time charter – ed.) With Mowi, “Pirholm” and “Eidholm”, and “Vågsund” goes to BioMar. «Eidholm» goes to Scotland at the new Mowi factory. “Eidholm” is in the spot market for most of the suppliers. “Tenneskjær” goes from Denmark to Northern Norway, carrying some feed for Aller Aqua and EWOS, and returns with cargo,” Nils Tore Øpstad told SalmonBusiness in connection with this year’s result.