Cape Town-based I&J has expanded its fleet with the addition of the Ferox and Umlobi fishing vessels as part of a R0.5-billion investment; the largest in the South African fishing industry in the last 25 years, states the company.
“This investment highlights I&J’s commitment to both its current and future employees, aligning well with government’s job creation objectives, in addition to the Operation Phakisa objective, focused on unlocking the economic potential of South Africa’s oceans,” I&J noted in a statement on Wednesday.
The investment would not only support existing jobs, replacing aging vessels and processing technology, but also see the creation of 75 new jobs in the Western Cape by adding modern fishing vessel capacity and technology to the I&J fleet.
An AVI subsidiary and South Africa’s oldest deep-sea Cape Hake fishing company, the company said the investment demonstrated I&J and its shareholders’ recognition that material investment was necessary in this complex, vertically integrated industry. It also reflected I&J’s confidence and belief in the Cape Hake fishing industry, added the company.
The investment included the purchase of the Ferox, a 45-m-long, deep-sea fishing trawler for R150-million; the acquisition of the 66-m-long freezer factory ship, Umlobi for R255-million; as well as a R67-million upgrade of I&J’s Woodstock processing facility, in Cape Town, where the daily Cape Hake catch was converted into product for both domestic and international markets.
Ferox, a newly-built wet-fish vessel, was a 910 gross ton stern trawler, capable of fast turnarounds and delivering fresh fish to the V&A Waterfront for further processing at Woodstock.
Umlobi, I&J’s new flagship vessel, was one of the top performing Norwegian fishing vessels prior to its sale to I&J, stated the company. The 2 600 gross ton fishing trawler was able to catch and process all fish on-board, producing the internationally respected Cape Hake frozen-at-sea fillets.
I&J MD Jonty Jankovich-Besan explained that I&J was a pioneer in the attainment of the demanding Marine Stewardship Council (MSC) sustainability certification of the Cape Hake fishery back in 2004, which had since been recertified twice, most recently in May 2015. “Over the last 12 years, the deep-sea fishing industry has collaborated effectively with the Department of Agriculture, Forestry and Fisheries and scientific and mathematical experts, ensuring the attainment of the stringent MSC audit demands.
“This collaboration has been key, as the MSC sustainability certification allows access to high-value, sophisticated international markets, which, in turn, supports the investment in both these expensive physical assets and very importantly, its employees.”
I&J currently employed 1 900 staff, converting all of the I&J catch off the South African coastline to finished product. No raw material was exported for further reprocessing as was common in many other fishing industries.