Fish farming services provider increased turnover by 23.7% last year
Aquaculture marine services provider FSV Group increased its turnover by 23.7% last year, according to its annual report.
FSV is headquartered in Molde, Norway, and does most of its business in its home country but also has several vessels operating in Canada and one in Scotland. A 50-metre harvest boat, the FSV Scotia, is under construction and will also be used in Scotland.
The group’s turnover increased from NOK 328.8 million (£23.4m at today’s exchange rate) in 2022 to NOK 406.9m in 2023.
“The general market outlook is considered to be good with an increasing total market, and the company still expects good prospects in the future. FSV Group is well exposed to further growth in Norway and internationally. Management and operation of vessels will be the FSV group's area of focus going forward,” the board wrote in the annual report.
New vessels, old heads
At the end of 2023, the group had around 230 maritime employees and 18 administrative employees.
“Our ambition is to be the leading actor in effective execution and risk management of assignments on behalf of our customers. In this work, we combine the market’s newest fleet with solid experience from maritime operations,” the company states on its website.
FSV Group’s fleet includes, among other things, cargo and multi-vessels from 15 to 27 metres in length, and remotely operated vehicles (ROVs) for deep-water inspections.
More than half (55%) of FSV’s vessels in operation or under construction have electric propulsion. In addition, FSV has an aggressive construction plan to convert existing diesel-mechanical vessels to electric propulsion.
