In 2004 the United Nations Development Program (UNDP) estimated the sustainable catch at 90,000 to 120,000 tonnes pa, with less than 5% being harvested by local fishermen.
- The gulf of Aden is one of the most productive seas in the world.
- Rich feeding and nursery grounds for more than 600 fish species.
- High value species like tuna, lobster, cuttlefish, shrimps, shark and many more.
Fish industry is a global market:
- Capture (wild fish) landings plateaued 25 years ago at 90 million tonnes pa.
- Fish prices up +50% over 10 years and increasing partly due to demand from China and developing countries.
Pontus Marine’s Main Products:
- Whole Fresh Fish – chilled
- Fish fillets – fresh chilled and vacuumed packed
- Premium fish – fresh chilled and vacuumed packed
- Lobster – live
- Shark – dried
- Other – Phase 2 (not in financials); low value fish to be dried or processed into Fish Feed pellets for export.
Potential Local Markets:
- Wholesale: Shops and Hotels:
- Somaliland (population ~ 3.5m)
- Ethiopia (population ~ 85m) – export license in progress
- UAE (population ~ 8m).
- Saudi (population ~ 28m).
- China (population ~ 1,340m) – consumes +50% of the world’s lobster.