KAHC’s deepwater quota is the second most valuable asset after crayfish and represents a significant holding in our portfolio.
In 2013, we entered into a joint venture with Sealord, one of the largest deepwater fishing companies in New Zealand. Sealord's is owned by Aotearoa Fisheries Ltd and Nissui (Japan), based in Nelson.
Now in its fifth and final year, the partnership ‘Ihu to Mai’, requires KAHC to commit its deepwater quota, with Sealord matching that amount. In the seas around the East Coast, Sealord catches and process deepwater fish species including Hoki, Squid, Ling, Silver Warehou, Alfonsino and Orange Roughy.
Both Sealord and KAHC share equally in the profits when the fish is taken to market, creating a significant financial return to the Iwi.
In October 2016 the KAHC made the decision to enter into a joint venture with Hawkes Bay Seafood's to purchase a 34 metre deep water trawler called the FV Glomfjord. This vessel started fishing in July 2017 initially contracted to Sealord's in Nelson and is currently operating from Napier.
Our asset portfolio has increased in value and includes fishing quota, shares in Aotearoa Fisheries Limited, Pania Reef Fisheries (GP) Limited, Takitimu Seafoods (GP) Limited and the Fiordland Lobster Company Limited.