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Opportunities in the New Zealand Seafood Industry. Slides taken from presentations made by Rob McLeod Chairman, Aotearoa Fisheries Ltd and by Robin Hapi Chief Executive Officer, Aotearoa Fisheries Ltd. Our Assets and Operations. 100% owned Moana Pacific Fisheries Pacific Marine Farms

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Opportunities in theNew Zealand Seafood Industry

Slides taken from presentations made by Rob McLeodChairman, Aotearoa Fisheries Ltdandby Robin HapiChief Executive Officer, Aotearoa Fisheries Ltd

our assets and operations
Our Assets and Operations
  • 100% owned
    • Moana Pacific Fisheries
    • Pacific Marine Farms
  • Joint ventures
    • Sealord Group : equally owned with Nippon Suisan
    • Prepared Foods Group : in partnership with Ocean Ranch
our people
Our People

Board of Directors

Executive Management


our shareholders
Our Shareholders
  • Beneficial owners are Iwi
  • Two types of shares –
    • Control shares that are owned by Te Ohu Kaimoana Trustee Ltd
    • Income shares that are owned 80% by Iwi with the remaining 20% of income shares being held by Te Ohu Kaimoana
our management structure
Our Management Structure

Chief Executive OfficerRobin Hapi

Based at AFL

Head Office

GM Strategy & PlanningTom McClurg

Chief Financial OfficerDanny McComb

Manager, CRA

Dave Shields

Acting Marketing


Tom McClurg

Divisional Manager


Jim Pendleton

Divisional Manager

AquacultureDean Moana

Manager, Eels

John Jameson

Operations Manager

Richard Wells

mission statement
Mission Statement

Our vision is that AFL is a strong seafood business delivering growth in shareholder wealth to Iwi

our assets
Our Assets

Total Assets

10 months ended 30 Sept 2005$000

Total Assets


Total Liabilities


Total equity at end of period


issues facing aotearoa fisheries limited
Issues facing Aotearoa Fisheries Limited
  • Ongoing commercial success and profitability are the key requirements of durability
  • Re-empower Maori in the management of customary and commercial fisheries
  • Common interest to protect property rights
  • AFL’s support for Iwi organisations
issues facing the industry
Issues facing the Industry
  • Value of the dollar
  • Dilution of property rights
  • MFish costs and performance
  • Environmental Lobby
  • Distance from Markets
  • New species into the QMS
  • Fisheries management by owners
  • Overcapitalisation of quota
  • Seafood prices
  • Size of the industry
  • National and world economies
value of the dollar
Value of the Dollar
  • Only enduring solution is to focus on long-run efficiency, by minimising costs and maximising revenues
erosion of property rights
Erosion of Property Rights
  • Continued presence of illegal catch
  • Dilution of the term utilisation
  • Reallocation of increases in stock abundance
  • Quality of aquaculture property rights
ministry of fisheries
Ministry of Fisheries
  • Cost of administering the fisheries sector
  • Improved performance, accountability and transparency
  • Performance of the compliance division to be improved
environmental lobby
Environmental Lobby
  • Concept of “sustainable utilisation”
    • Unbalanced emphasis placed on preservation within the environmental lobby
distance from markets
Distance from Markets
  • Best information, communication and technology to overcome distance from international markets
  • Difference in the world market must be maintained and defended
new species into the qms
New Species into the QMS
  • AFL agrees with the principle that fisheries should be either open or in the QMS
fisheries management by the owners
Fisheries Management by the Owners

Purpose of the Act –

“provide for the utilisation of fisheries resources while ensuring sustainability”.

Utilisation means –

“conserving, using, enhancing and developing fisheries to enable people to provide for their social, economic and cultural well-being”.

over capitalisation of quota
Over-capitalisation of Quota
  • Maximising the value of ITQ can be difficult to explain or sustain
  • AFL has adopted an EVA performance framework – all investment is charged a weighted average cost of capital
seafood prices
Seafood Prices
  • Success for some operators and species to grow the domestic market
  • Tough year for rock lobster
  • Volatile worldwide markets
  • Expect great opportunities for seafood sector with China
size of the industry
Size of the Industry
  • Is it sensible for New Zealand to run their own half full trucks?
  • Can co-operation unlock economies of scale?
world economies
World Economies
  • Knowledge on developments in the world economies and trade relationships between countries
  • Acknowledge the work of Alastair Macfarlane and the group within NZ Trade & Enterprise
moving forward afl s approach
Moving forward : AFL’s approach
  • Divisionalisation of wholly-owned companies
  • Establishment of head office in Wellington
  • Adoption of EVA framework to plan and measure the performance of divisions and people
what can we do smarter
What can we do smarter?
  • Unified approach to protect the QMS
  • Multiple uses should be matched with multiple responsibilities
  • Rationalisation within the industry
  • Improve the approach to managing our assets

Opportunities in theNew Zealand Seafood Industry

Presentation made by Rob McLeodChairman, Aotearoa Fisheries Ltdat the Seafood Industry Council Conferenceon Wednesday 18 May 2005