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Arctic & Nordic : Business Potential                              in Arctic and Northern Europe
Economic news in Arctic and Northern Europe for those who are searching for new business opportunities
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Norway transfers 15,000t of cod quota from inshore fleet to trawlers | Undercurrent News

Norway transfers 15,000t of cod quota from inshore fleet to trawlers | Undercurrent News | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it

The Norwegian government is transferring cod quota from the inshore fleet to the large trawlers and longliners, in an effort to harvest its portion of the one million-metric-ton cod quota in the Barents Sea, shared with Russia.

In Norway, the coastal fleet gets 58% of its portion of the total cod quota – 446,740 metric tons – and has been struggling to catch its portion of the allocation, leading to trawler owners calling for a speedy reallocation.

On Monday, the Norwegian directorate for fisheries announced a transfer of 170t of cod quota for each of the 89 trawler licenses, giving a total of 15,130t.

There are 31 permits for the large longliners, which are getting 46t each, giving a further 1,426t, taking the total to 16,556t.

The reallocation of quotas happens regularly, but not usually in such volumes.

“I can’t recall another time when it has been so big,” one veteran trawler owner told Undercurrent News.

The weather and location of the cod has made it tough for the coastal fleet to catch its allocation, another source with a trawler owner told Undercurrent. “The cod has been too far out to sea for the coastal vessels to catch.”

Fiskebat — the Norwegian fishing vessel owners’ association — welcomed the news, stating it is “strongly committed to achieving such a redistribution and to make the decision as early as possible with a view to getting fishing finished for Christmas”.

Not all longliners and trawlers are in position to fish the reallocated quota, but Fiskebat estimates that 10,000t-15,000t of the reallocated quota will be fished, Oddbjorn Skarbovik, of Fiskebat, toldUndercurrent.

“The industry is annoyed, as we have known for the past few weeks that the coastal fleet will not be able to take all of the quota,” said the first trawler source.

Norway’s new government, he said, was afraid of being accused of overfishing the quota. There are also the political problems of reallocating from the coastal vessels to the larger trawler owners.

Havfisk, Norway’s largest cod quota holder, welcomed the news.

“The increase in quota for cod is very positive and gives the fleet a very good operating  basis for the remaining of the year,” said Olav Holst-Dyrnes, its CEO.

Havfisk has 29.61 licences for cod and the re-allocation implies an increase in the total cod quota of 5,033t of cod, round weight.

This will be put into a mix of frozen headed and gutted (H&G) production and fresh, he toldUndercurrent.

As to whether Norway can catch the full quota, Holst-Dyrnes said: “I am not sure if I’d like to make a prediction on that one.”

The first source claimed there are members of the coastal fleet sector that would rather see the cod quota go uncaught, than see it transferred to the trawler owners.

“Of course the coastal fleet would like to catch the quota themselves, but I think all of the sensible fishermen just want to see the quota harvested,” the second source told Undercurrent, downplaying this.

The coastal fleet would like to have higher quotas in March/April, when it is easier for them to catch more fish, he said.

For the government, who catches what and when is a “balancing act”, they don’t want the quota to be overfished, he said.

The move is causing some grumblings in Norway, where vessels will have to be out over Christmas, not usually the case, said the first source.


Via Konstantinos KOKOSIS
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Arctique: Moscou créera un groupement spécial de troupes en 2014 (Choïgou)

Arctique: Moscou créera un groupement spécial de troupes en 2014 (Choïgou) | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
La Russie créera un groupement spécial de troupes pour défendre ses intérêts nationaux en Arctique en 2014, a annoncé mardi à Moscou le ministre russe de la Défense Sergueï Choïgou.
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Norway's Surging Oil Costs Sap National Goal to Boost Extraction - Bloomberg

Norway's Surging Oil Costs Sap National Goal to Boost Extraction - Bloomberg | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Norway's Surging Oil Costs Sap National Goal to Boost Extraction
Bloomberg
Norway's goal of recovering more oil and gas from its aging and marginal reserves is being undermined as rising costs and taxes weigh on investment by the industry.
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Statoil names new VP for development, production Norway - Oil & Gas Financial Journal

Statoil names new VP for development, production Norway
Oil & Gas Financial Journal
Statoil ASA has named Arne Sigve Nylund as executive vice president for Development and Production Norway.
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Ouverture du Forum international de l'Arctique à Saint-Pétersbourg

Ouverture du Forum international de l'Arctique à Saint-Pétersbourg | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Le3eforuminternationalArctique:leprésentetl'aveniradébutéjeudidanslacapitaledunor
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Shell's Alaska oil comeback in Arctic proposed for a July start - Alaska Dispatch

Shell's Alaska oil comeback in Arctic proposed for a July start - Alaska Dispatch | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Shell's Alaska oil comeback in Arctic proposed for a July start Alaska Dispatch The Netherlands-based oil giant has long said it would not return to offshore drilling in Alaska until it had fully learned its lesson following 2012, a mistake-riddled...
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How Expensive Are Gasmobiles In Norway? VERY (& That's Logical) - CleanTechnica

How Expensive Are Gasmobiles In Norway? VERY (& That's Logical) - CleanTechnica | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
How Expensive Are Gasmobiles In Norway? VERY (& That's Logical)
CleanTechnica
VERY (& That's Logical).
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Shell charts return to offshore Alaska drilling in July | Financial Post

Shell charts return to offshore Alaska drilling in July | Financial Post | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Royal Dutch Shell Plc aims to return to Alaskan offshore drilling next July by deploying an upgraded drillship in the Chukchi Sea, while keeping a newly contracted backup drillship ready if needed, according to plans released ...
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SAAB Production Restarts in Sweden - The Epoch Times

SAAB Production Restarts in Sweden - The Epoch Times | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Kansas.com
SAAB Production Restarts in Sweden
The Epoch Times
NEVS restarted the production of its 9-3 sedan model at its factory in western Sweden on Monday, much to the delight of Swedish auto enthusiasts.
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London Mining set to exploit Greenland iron ore - The Times (subscription)

The Times (subscription)
London Mining set to exploit Greenland iron ore
The Times (subscription)
London Mining will seek investors next year to build a $2 billion mine in Greenland.
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Klepierre Sells Norway Shopping Malls for $336 Million - Bloomberg

Klepierre Sells Norway Shopping Malls for $336 Million - Bloomberg | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Venture Capital Post Klepierre Sells Norway Shopping Malls for $336 Million Bloomberg Klepierre SA (LI), Europe's second-largest publicly traded shopping mall operator, sold four shopping centers in Norway for 247 million euros ($336 million) to...
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Les richesses de l'Arctique suscitent la rivalité des nations riveraines

Les richesses de l'Arctique suscitent la rivalité des nations riveraines | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
La chaleur fait fondre la banquise arctique, ce qui rend envisageable l'exploitation de ses ressources pétrolières. Nouvel objet de convoitise pour (...)
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Nordic Statistical Yearbook 2013 — Nordic cooperation

Nordic Statistical Yearbook 2013 — Nordic cooperation | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Nordisk statistisk årsbok 2013
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Market Fresh: Give the gift of Alaska seafood to loved ones far away - Anchorage Daily News

Market Fresh: Give the gift of Alaska seafood to loved ones far away - Anchorage Daily News | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Anchorage Daily News
Market Fresh: Give the gift of Alaska seafood to loved ones far away
Anchorage Daily News
For many, it's time to send a taste of Alaska to friends and family Outside.
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Business Opportunities in the Arctic—In Pictures

Business Opportunities in the Arctic—In Pictures | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
This slideshow is part of the article “Is the Arctic the Next Emerging Market?”
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Iceland economy shows signs of recovery as exports grow - FRANCE 24

Iceland economy shows signs of recovery as exports grow - FRANCE 24 | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
FRANCE 24 Iceland economy shows signs of recovery as exports grow FRANCE 24 AFP - The economy of Iceland rebounded strongly in the third quarter of the year, figures from the national statistics agency showed on Friday, although inventories of fish...
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Maine group to boost trade in North Atlantic region - Press Herald

Maine group to boost trade in North Atlantic region - Press Herald | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Maine group to boost trade in North Atlantic region
Press Herald
Eimskip offers connecting service to other nations in Northern Europe, from as far north as Russia to as far south as Germany, and also to Greenland.
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Greenland Minerals and Energy completes Kvanefjeld process engineering - Proactive Investors Australia

Greenland Minerals and Energy completes Kvanefjeld process engineering - Proactive Investors Australia | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Proactive Investors Australia Greenland Minerals and Energy completes Kvanefjeld process engineering Proactive Investors Australia Greenland Minerals and Energy (ASX: GGG) has completed the key process engineering design under the Feasibility Study...
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Russian delegation to Norway to discuss Arctic interaction - The Voice of Russia

Russian delegation to Norway to discuss Arctic interaction - The Voice of Russia | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Russian delegation to Norway to discuss Arctic interaction The Voice of Russia A delegation of the Federation Council upper house of Russia's parliament will arrive in Norway on Thursday for talks with the leadership of the country and Norwegian...
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Norway Readies Asset Sales as Statoil Ownership Under Review - Bloomberg

Norway Readies Asset Sales as Statoil Ownership Under Review - Bloomberg | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Norway Readies Asset Sales as Statoil Ownership Under Review Bloomberg Norway is readying a proposal targeting asset sales that the government has signaled will include its biggest energy company, Statoil ASA (STL), as the state loosens its grip on...
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How Finland is preparing for its future economy - Financial Post

How Finland is preparing for its future economy - Financial Post | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Financial Post
How Finland is preparing for its future economy
Financial Post
The World Economic Forum's 2012/13 Global Competitiveness Report ranks Finland first in health, primary education, higher education and training.
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Fisheries jobs in Alaska attracting more workers - Cordova Times

Fisheries jobs in Alaska attracting more workers - Cordova Times | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
Fisheries jobs in Alaska attracting more workers Cordova Times A new report from the Alaska Department of Labor and Workforce Development, posted in the November issue of Alaska Economic Trends, shows that monthly jobs in seafood harvesting rose...
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Wärtsilä Inaugurates New Propulsion Test Center in Finland - The Maritime Executive

Wärtsilä Inaugurates New Propulsion Test Center in Finland - The Maritime Executive | Arctic & Nordic : Business Potential                              in Arctic and Northern Europe | Scoop.it
The Maritime Executive Wärtsilä Inaugurates New Propulsion Test Center in Finland The Maritime Executive The Wärtsilä Propulsion Test Center has been established and funded by Wärtsilä with strong support from VTT Technical Research Center of...
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