Designed by Salt Ship Design, the live fish carriers will include MMC First Process's fish handling systems and will be built in China by CIMC Raffles.
Image: Salt Ship Design / Pelican Aqua Holding.
Pelican Aqua Holding Plc., a newly established wellboat platform headquartered in Cyprus, announced it has entered into contracts for the construction of four live fish carriers (LFCs) to be delivered in 2029, while also holding options for up to six additional similar LFC vessels.
In addition, the maritime aqua-service company—which has begun the process to go public on Euronext Growth Oslo, intending to start trading before the end of June—successfully completed a USD 60 million private placement on May 13, 2026, to finance initial payments related to the four firm new construction contracts.
This private placement was supported by what Pelican Aqua described as "a strong group of industrial and financial investors," which includes Condire, Odfjell Partners Holding, Aconcagua Management Ltd., J.J. Ugland Group, Blystad and Magni Partners.
"We are proud of the establishment of Pelican Aqua, and highly appreciate the strong support received from investors, industrial partners and other stakeholders," Gunnar Winther Eliassen, Chairman of Pelican Aqua Holding Plc., said, commenting on the establishment of the wellboat company.
"Going forward, the company will focus on further strengthening its organization and commercial platform, and expects to announce employment of additional key executives in the near future," he added, previewing the next steps for Pelican Aqua.
Regarding the four 5,000 m³ live fish carriers, they have been designed by Salt Ship Design—also responsible for the design of the recently launched Scotland's largest wellboat—and will be built in China by CIMC Raffles, an internationally recognized shipyard with extensive experience in the advanced construction of vessels for the offshore, marine, and aquaculture sectors.
The maritime aqua-service company also said that Norwegian seafood handling, processing, and cooling specialist MMC First Process will supply state-of-the-art fish handling systems for the vessels. Furthermore, the wellboats will offer flexibility in terms of treatment systems and battery solutions, which, the company emphasized, will allow them to adapt to both Norwegian and international market requirements.
Pelican Aqua added that its collaboration with Salt Ship Design, MMC First Process and CIMC Raffles is expected to deliver modern, high-quality vessels with a strong focus on fish welfare, biosecurity, operational efficiency and environmental performance.
"We look forward to continuing the close co-operation with Salt Ship Design, MMC First Process and CIMC Raffles to deliver high-quality live fish carriers to the aquaculture industry. Pelican Aqua is committed to maintaining the highest standards within fish welfare, biosafety and HSEQ," the Chairman of Pelican Aqua, Gunnar Winther Eliassen, stated.
Li Minggao, Vice President of CIMC Raffles and Chairman of CIMC Raffles, Longkou Yard, spoke along the same lines. "We are pleased to have been selected as shipyard for the Company for this landmark transaction," he said. "Pelican Aqua combines a strong industrial platform with a modern vessel design focused on high-quality delivery, operational performance and safety. Together with Salt Ship Design and MMC First Process, we believe these vessels will represent a strong and modern offering to the aquaculture industry."