Aquaculture Direct Limited (ADL) offers a range of aquaculture services that includes aquaculture insurance and risk management.
Salmon farming can be a risky and capital hungry industry.
Huon Aquaculture Limited went to the Australian capital market in 2014 to raise over $AUD133 million in order to increase their farming base south of Hobart.
The capital raising enabled the company to increase production to over 20,000 tonnes of Atlantic Salmon per annum and with improved technology to move into deeper and more exposed seawater.
Insurance for fish stocks and farming equipment is essential. ADL was selected by a consortium of fish insurers and underwriters (Global Aquaculture Insurance Consortium (GAIC)) to assess the risk exposure of the new farms. GAIC is a London market facility set- up to insure fish and shellfish farms for stock mortality and other exposures.
At the completion of the redevelopment programme a second risk assessment was completed.
Huon now has an annual turnover of around $AUD300 million.
The results of the risk survey ensured Huon Aquaculture’s fish stocks were adequately insured to cover most eventualities.
ADL has also completed risk analyses for a range of international client, including a Pearl Oyster farm in Broome (WA) and a Yellowtail Kingfish farm in the Vincent Gulf (SA).
