Norwegian fish farm companies' share prices have been in freefall for some time: Marine Harvest is at: 44.2 cents; Cermaq is at $10.20; Grieg Seafood is at: 66.1 cents. All USA dollars.
Find Marine Harvest share prices:http://www.marineharvest.com/en/Investor1/Share-info/
Find Cermaq/Mainstream share prices:http://www.cermaq.com/portal/wps/wcm/connect/cermaqen/home/press/Share+information.
Find Grieg Seafood share prices:http://uk.finance.yahoo.com/q/hp?s=GSF.OL&a=5&b=21&c=2007&d=7&e=17&f=2011&g=d&z=66&y=0.
A quick analysis of the industry in October, 2011: http://biz.thestar.com.my/news/story.asp?file=/2011/10/25/business/9764783&sec=business. The selling price of 24 Kroner is $4.32 or negative income for Marine Harvest and Grieg Seafood.
This link says that the Norwegian derivative fish farms are all losing money: http://www.newsinenglish.no/2011/10/27/salmon-producers-face-new-crisis/
This link shows the bad financial position that Marine Harvest is in, 3rd Q income down 97%: http://www.bloomberg.com/news/2011-11-11/fredriksen-fish-farmer-chokes-on-salmon-glut-corporate-finance.html.
This is a currency converter: http://www.xe.com/ucc/convert/?Amount=1&From=NOK&To=CAD. Nov 27, 1 NOK = .1773 CDN Dollar. In other words: $1 CDN = 5.64 NOK.
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The financial reports make the companies sound in fine health. Investor's don't agree - shares are way down. Then go and follow brokers to the Oslo Stock Exchange. Their comments are frank and present a much more negative picture.
Marine Harvest 2010 Financial Report, delivered in 2011: http://marineharvest.com/en/Investor1/Press-releases/2011/2010-ANNUAL-REPORT-APPROVED---INCREASED-DIVIDEND-PROPOSAL-NOK-080-PER-SHARE/.
Cermaq 2010 Financial Report, delivered in 2011: http://www.report2010.cermaq.com/media/3681/0_cermaq_annual_report_2010.pdf. Do note that CEO Geir Isaksen has been moved from the government's Cermaq to the government's train transportation ministry.
Grieg Seafood 2010 Financial Report, delivered in 2011:
http://www.griegseafood.ca/financial_english.aspx?pageId=71. Click on the report image.
Bloomberg financial has frank comment on fish farms: http://www.bloomberg.com/news/2011-11-11/fredriksen-fish-farmer-chokes-on-salmon-glut-corporate-finance.html. This is the most cheery note in a couple of months. Look around for other articles.
A quick analysis of the industry in October, 2011: http://biz.thestar.com.my/news/story.asp?file=/2011/10/25/business/9764783&sec=business. The selling price of 24 Kroner is $4.32 or negative income for Marine Harvest and Grieg Seafood.
This link says that the Norwegian derivative fish farms are all losing money: http://www.newsinenglish.no/2011/10/27/salmon-producers-face-new-crisis/
This link shows the bad financial position that Marine Harvest is in, 3rd Q income down 97%: http://www.bloomberg.com/news/2011-11-11/fredriksen-fish-farmer-chokes-on-salmon-glut-corporate-finance.html.
This is a currency converter: http://www.xe.com/ucc/convert/?Amount=1&From=NOK&To=CAD. Nov 27, 1 NOK = .1773 CDN Dollar. In other words: $1 CDN = 5.64 NOK.
***
The financial reports make the companies sound in fine health. Investor's don't agree - shares are way down. Then go and follow brokers to the Oslo Stock Exchange. Their comments are frank and present a much more negative picture.
Marine Harvest 2010 Financial Report, delivered in 2011: http://marineharvest.com/en/Investor1/Press-releases/2011/2010-ANNUAL-REPORT-APPROVED---INCREASED-DIVIDEN
D-PROPOSAL-NOK-080-PER-SHARE/.Cermaq 2010 Financial Report, delivered in 2011: http://www.report2010.cermaq.com/media/3681/0_cermaq_annual_report_2010.pdf. Do note that CEO Geir Isaksen has been moved from the government's Cermaq to the government's train transportation ministry.
Grieg Seafood 2010 Financial Report, delivered in 2011:
http://www.griegseafood.ca/financial_english.aspx?pageId=71. Click on the report image.
Bloomberg financial has frank comment on fish farms: http://www.bloomberg.com/news/2011-11-11/fredriksen-fish-farmer-chokes-on-salmon-glut-corporate-finance.html. This is the most cheery note in a couple of months. Look around for other articles.
All Oslo Fish Farm stock market prices can be found at: http://www.fishfarmingxpert.com/index.php?page_id=76&article_id=93626. Look in the right column.
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