Clearwater invests in Canadian clam fleet
07 Sep 2016
Belle Carnell was launched last year
Clearwater Seafoods Incorporated is investing around $70m in a new and innovative vessel for its Canadian clam fleet.
The investment will replace an existing 28 year old clam vessel with a state-of-the-art factory vessel that will deliver significant productivity and efficiency improvements through a more efficient harvesting platform. This investment follows the launch of the Belle Carnell in July 2015 which successfully allowed Clearwater to increase its catch of Arctic Surf Clams, Cockle Clams and Propeller Clams.
The combined investments complete Clearwater’s plan to sustainably harvest 100% of its Canadian Surf Clam quota employing the most advanced and proprietary clam technology in the world.
Following this vessel replacement, Clearwater’s entire Canadian fleet will be fully renewed with no further vessel replacements planned over the next five years ending 2020. Including replacements and planned refits, Clearwater has invested $169 million in its fleet over the past five years creating one of the most modern and technologically advanced fishing fleets in the world.
The investment will begin during the third quarter of this year and is expected to be complete in time for the vessel to enter service by the second quarter of 2018.
“Global demand for seafood is outpacing supply, creating favourable market dynamics for vertically integrated producers,” said Ian Smith, chief executive officer. “Clearwater is well positioned to take advantage of this opportunity because of its licenses, premium product quality, diversity of sustainably harvested species, global sales footprint, and year-round harvest and delivery capability.”