New Zealand King Salmon has been given the green light to begin farming the first open ocean finfish site in Cook Strait. The strait connects the Tasman Sea on the northwest with the South Pacific Ocean on the southeast.
Following a hearing in Blenheim last year, commissioners have just announced their decision to approve the Blue Endeavour application.
"We're pleased our plans to farm in the open ocean have been given the go ahead. This is a first for New Zealand. It is a significant decision for the aquaculture industry," said Acting Chief Executive Graeme Tregidga.
"I want to thank all who have been part of this extensive process which has taken six years to get to this point."
Also, Tregidga explained open ocean is part of the company's long-term strategy. But the current focus remains on the company's inshore farming production.
On the other hand, NZKS General Manager of Aquaculture, Grant Lovell, added open ocean farming makes logical sense for both the environment and for the species in the long term.
Finally, Tregidga added the next step is to study the decision. Moreover, associated conditions before coming up with an implementation plan and investment options.
NZKS's latest financial year was affected by high mortalities, supply chain disruptions, and soaring freight charges. In January company costs increased by almost 30 percent to NZD 20.8 million.
The New Zealand King Salmon company was a pioneer in marine salmon farming in New Zealand, utilising King salmon stock introduced from California over 100 years ago.
It has been growing and selling King salmon to consumers in Aotearoa and overseas for over 30 years. It established a well domestic market share along with a successful history in offshore markets.