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VIET SEAFOOD

Love Is In The Air As Clean Seas Changes Its Tuna Australia, September 13, 12



Craig Foster, CEO of South Australia-based Clean Seas Tuna

How can you tell if a 135kg tuna is in the mood for love?

I don't know but Clean Seas Tuna chief executive Craig Foster does, which is why he said their captive bluefin breeding stock are "already showing encouraging courting behavior".

All things going well, those randy tuna should lead to five thousand tuna fingerlings being farmed into sea pens down the track after a careful simulation of migration and moonlit nights results in the still rare captive breeding of the southern bluefin.

Clean Seas' pioneering work in closing the life cycle for tuna after using helicopters to carry fish into specially designed tanks has not been reflected in financial results for the company.

It has sold boats and slashed staff numbers in half after a disastrous run of illness for its yellowtail kingfish led to a dramatic reduction in fish stocks and two years of losses.

Craig said the health of the remaining kingfish is improving after a change in feed but Clean Seas is still on the lookout for a core investor for the business as it recovers from a seriously bad run.

Apparently several companies are mouthing that bait and now it just remains for adviser BBY to land one of the bidders for the Port Lincoln business.

I really like the aquaculture investment dynamics of growing captive fish to bypass strict quotas and declining catches of wild fish but despite numerous forays my efforts to turn a piscatorial penny have so far been as barren as a line reeled in off St Kilda pier.

Making Clean Seas a hold for all except the most optimistic of anglers.
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