Greenland Increasing value in the fisheries sector ICELAND OCEAN CLUSTER Dr. Thor Sigfusson Founder & CEO
Greenland Increasing value in the fisheries sector Icelandic Seafood Business
Total catch (cod) and export value 1981 vs 2011
Employees 9.000 8.100 Fisheries and fish processing employees 2011 2023 2000-2025
35.000+ 25.000+ Employees in the ocean cluster Employees 9.000 8.100 Employees in fisheries and fish processing 2011 2023 2000 - 2025
Greenland Increasing value in the fisheries sector North Atlantic Collaboration
North Atlantic Cluster Project Greenland Norway Faroe Islands Iceland Scotland Denmark Canada Ireland Maine
Collaborating projects
Business to business session 20 minutes each, country vs. country Greenland Canada Denmark Session 1 Nofima 09.00-09.20 Iceland Faroe Islands Norway Biomarine Cluster Norway Iceland Faroe Islands Session 2 Norway 09.20-9.40 Greenland Denmark Canada Norway Greenland Denmark Session 3 Iceland 9.40-10.00 Faroe Islands Norway Canada Norway Canada Iceland Session 4 Greenland 10.15-10.35 Denmark Faroe Islands Norway Norway Iceland Denmark Session 5 Faroe Islands 10.35-10.55 Canada Greenland Norway Noway Greenland Faroe Islands Session 6 Canada Norway Canada Iceland 10.55-11.15 Iceland Denmark Greenland Session 7 Nofima Canada Norway Faroe Islands 11:15-11:35
Greenland Increasing value in the fisheries sector 2.The IOC Concept: increase value in the ocean cluster by connecting people and businesses.
Own export Own export Own export Special service Surveillance service Packaging Food industry Governance Fisheries Machinery Technology Power Fish gear Transportation R&D Own exports Own export
Technology Own exports Welding service Software Laser technology 65 Aluminum Exporting technology firms Plastic Printing Mechanical Engineering Marine Engineering
Ocean cluster accounts for 26% of GDP (IOC´s analysis) instead of 9% (official statistics)
Greenland Increasing value in the fisheries sector Opportunities through clustering
Project sharing
Collaboration of schools and commercial sector to present the Ocean Cluster in primary schools
Education in the ocean cluster New student registrations 140 Reykjavik University Management Course 120 AQFood MSc 100 Coastal management MSc 80 Fish processing Fisheries Science BSc 60 Aquaculture Diploma 40 Food Science BSc 20 Food Science MSc 0 2010 2011 2012 2013
Dream scenario for education/R&D! GMRI Bigelow
OCEAN CLUSTER HOUSE
Green fishing ship
Green Marine Technology World
Utilisation in different countries 85% Iceland 74% 75% 65% Faroe Islands 51% Average 54% 55% Norway 48% (McKinsey + est.) 45% Canada 46% Greenland 43% 35% 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Iceland Faroe Islands Greenland Canada Average Norway (McKinsey + est.)
Value chain for utilization Value Pharma- ceuticals Cosmetics Health food Supplements Food Animal feed Volume Raw material
Value chain for utilization Value Pharma- ceuticals Cosmetics Health food Supplements Food Animal feed Volume Raw material
Rest raw material as animal feed or bait USD 0,4/kg
Value chain for utilization Value Pharma- ceuticals Cosmetics Health food Supplements Food Animal feed Volume Raw material
Residue processed as Dried food USD 1.5-2/kg
Value chain for utilization Value Pharma- ceuticals Cosmetics Health food Supplements Food Animal feed Volume Raw material
Residue processed as bulk supplements USD 1.5-2.5/kg
Value chain for utilization Value Pharma- ceuticals Cosmetics Health food Supplements Food Animal feed Volume Raw material
Part of the residue as base for cosmetics USD 100/kg
Value chain for utilization Value Pharma- ceuticals Cosmetics Health food Supplements Food Animal feed Volume Raw material
Residue as base for pharmaceuticals USD 2000/kg
Total Rest raw utilization material Health products Development Innovation
• Pilot-factory • Utilizes intestines • Products: Dried fish,Fish meal, Fish oil, collagen and more
Price Pharma We need to move up the Healthfood value chain Cosmetics Functional food Food The Animal feed traditional fishing Fish meal industry Quantity
The European Cod Filet USD 15 Liver High volume of discards
The Icelandic Cod 15USD Export of dried head and bones Better cut, treatment, cooling etc. USD 20 More utilisation of liver etc. Sensible management leads to stronger fish stock and lower volume of discards
Canned products made from cod liver: Smoked liver and liver paté Fish skin transformed to leather and medical device USD 80+ Natural fish stock for food processing Caviar from roe Cosmetics made from enzymes from inner organs. Hand- & foot Liver oil and creams with intestine fish oil. omega 3
Thank you Dr Thor Sigfusson
Cod liver • Up to 12% of Cod's total weight • Storable up to 6 days in ice • Rich in Omega 3, Vitamin A and Omega 6 USD 5-6/kg
Canned and smoked cod liver • Similar to foie gras • Few producers in the world • Popular in West-Europe • Contains healthy nutritents USD 14
Raw fish/liver oil • Made out of liver or white fish intestines • Offered both as liquid and capsules • Rich in Omega 3, Vitamin A and Vitamin D USD14.000/ton 1ml fish oil=0.8g
Liquid liver oil • Made from liver • Healthy product • Rich in Omega 3, Vitamin A and D USD 250.000/ton
Fish oil capsules • Alternative to the bottle • No taste, no smell USD 750.000/ton
Intestines • Up to 12% of Cod's total weight • Contains bioactive substances • Rich in Enzymes, Proteins and Omega 3 ~ USD 0
• Pilot-factory • Utilizes intestines • Products: Fish meal, Fish oil, Enzymes and more
Penzim gel • Natural health product • Nurishes and heals • Made from enzymes in the pancreas USD 50/tube
Fish skin • Up to 5% of Cod's total weight • Medical device, gelatin production and fish leather USD 47
Foot and skin cream • Treatment of chronic wounds • Made from marine lipids and proteins • Maintains the skin USD 52/tube
Design and clothes – Fish leather • Shoe and clothing production • Special texture • Strong, durable and washable USD 50
Medical device (bandages) • Ideal for chronic wounds • Made from cod leather 7x7x7 cm • Suitable for ulcer • Replacement for pig bandages USD 150
Fish meal • Made out of bones, cut offs, intestines and more • Popular product • Rich in Omega 3, Vitamin A and Omega 6 USD14.000/ton
Dried products • Up to 35% of whitefish total weight • Variety of species - Head, bones, fillets and more • Big market in Africa • Rich in proteins, vitamins, iron and calcium USD45/kg
The European Cod! 25% 110% The Icelandic Cod Full utilization
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