Proximar Seafood announced a production update following harvests conducted in January 2026. The company stated it is seeing "positive biological developments" across the majority of its production.
Harvest volumes for the full year 2026 are estimated between 3,500 and 4,000 tonnes head-on gutted, according to Proximar. It noted that improvements made in production are showing positive effects on growth.
“Harvest in the first two months will reflect the impact of earlier operational challenges, but we expect predictable and robust production moving forward,” said Joachim Nielsen, Chief Executive Officer. He added that the implementation of AI-enabled camera surveillance permits better control and monitoring of the biomass.
Proximar mentioned that four cohorts were mixed into one batch in April 2025 as an alternative to removing fish following biofilter incidents. Recent harvests from this batch showed a wide size distribution because some fish did not grow as anticipated, the company stated.
Average harvest weights in the first quarter are expected to reach approximately 2.4 kilograms, according to the statement. From April to December, the average weight is expected to increase to between 3.5 and 3.8 kilograms, Proximar said.
Low average harvest weights in the first quarter are expected to negatively impact price achievement and short-term cash flow, the company stated. It is currently in negotiations with banks for extra credit lines and the refinancing of a short-term loan.
Proximar has requested a waiver from its syndicate banks for a covenant related to average two-month sales starting from January 2026. Business interruption insurance payments related to the biofilter incidents are also expected in the first quarter, the company said.
Camera and AI technology have been utilised since December to monitor biological performance and provide insights into biomass distribution. Surveillance of tanks containing fish above one kilogram resulted in the overall biomass being adjusted down by two per cent in early February 2026, according to the company.
Standing biomass was approximately 2,000 tonnes at the start of February 2026. Proximar harvested 185 tonnes head-on gutted during January 2026.
