New Zealand King Salmon has received shareholder approval to lease New Zealand’s first dedicated wellboat, marking a change in how live fish are transferred between the company’s aquaculture sites.
The company will lease the vessel under an eight-year agreement with Sølvtrans, a Norwegian operator that services salmon producers in Tasmania and owns a large share of the global wellboat fleet. The arrangement is expected to cost approximately NZD 9 million per year (USD 5.4 million).
Wellboats are widely used in major salmon-farming countries including Norway, Chile, Australia, Scotland, the Faroe Islands and Canada. New Zealand is currently the only major salmon-producing nation where the industry does not routinely use such vessels.
The specialised ships are designed to transport live fish in tanks with controlled water quality. They support more accurate counting and grading of fish, improve water conditions by reducing carbon dioxide and adding oxygen and ozone, and reduce reliance on manual pen tows.
Chief executive Carl Carrington told shareholders at the company’s annual meeting in Nelson that the wellboat is expected to materially increase operational flexibility and farming reliability.
According to Carrington, the vessel could unlock up to 2,000 tonnes of additional annual harvest within the company’s existing inshore footprint, with a potential revenue uplift of $60 million or more per year. He said the company anticipates more than 100 wellboat movements in the first financial year.
Carrington added that the vessel will form a core part of the company’s future open-ocean strategy and is a key enabling asset for its Blue Endeavour project.