Decision number200620052
Application number200520048
Date28 September 2006
Offeror/applicantMaruha (NZ) Corporation Ltd
Ultimate applicant beneficial ownership100 percent - Japan, Maruha Group Inc
Beneficial overseas ownership 
- Asset current100 percent
- Asset proposed100 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)Unknown quota holders of Various Species
Business activitiesFishing - Commercial Fishing - Various Species
Details of land involvedNone.
Regions involvedVarious Management Areas
Total considerationTo be advised
Consent soughtPermission to acquire Individual Transferable Quota (ITQ) generating an annual catch entitlement (ACE) of up to 5,000 tonnes in various species
Rationale

The permission has been granted as Ministers determined it met the criteria in section 57(4) of the Fisheries Act 1996.

The Applicant (Maruha NZ) carries on commercial fishing in New Zealand's Exclusive Economic Zone from a chartered fishing vessel, the "Aleksey Slobodchikov". Part of the annual quota requirements for this vessel is being met from Hoki quota held by its wholly owned subsidiary, Ceebay Holdings Limited (Ceebay), with the remainder from target and by-catch quota leased from third parties, pursuant to permissions granted under section 57 of the Fisheries Act 1996.

The Total Allowable Commercial Catch (TACC) for Hoki has progressively been reduced. Maruha NZ's fishing operations have therefore become increasingly dependent on leasing in quota in other target species, particularly Jack Mackerel. Maruha NZ wishes to acquire a core quota holding of other target species to provide the operational certainty necessary to continue to fish on its own account.

Maruha NZ has been granted permission to acquire up to 5,000 tonnes of ITQ of other species. This is approximately equivalent to the level of the core Hoki tonnage that was available from Ceebay in 2000. The permission permits Maruha NZ to acquire ITQ over a 3 year period from 28 September 2006 generating an ACE of up to 3,000 tonnes of Jack Mackerel, 2,000 tonnes of Southern Blue Whiting, 2,000 tonnes of Squid (SQU1T and SQU6T), and 2,000 tonnes of other target and by-catch species (excluding Hoki) provided that the total held at any time does not generate an ACE of more than 5,000 tonnes.

ContactAlan Lear
P O Box 3705
AUCKLAND