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The chair of Sealord Group says keeping on top of costs and having the right ships is essential to the continued success of the business.
Matanuku Mahuika says vessel breakdowns was one of the reasons for profits being down last year, reflecting the age of much of the fleet.
The company's newest vessel, the Antarctic Discovery, is on its way to the Ross Sea to fish for toothfish in an Australian-flagged joint venture with Japanese fishing giant Nissui.
Mr Mahuika says the company, which is jointly owned by fisheries settlement company Aotearoa Fisheries and Nissui, has flagged over two of the former Ukranian merchant navy vessels it charters, and hopes to have the third flying a New Zealand flag by mid-year.
"They fish actually across our portfolio but are particularly well suited to catching pelagic species. They are fast-moving vehicles and they have a lot of capacity to catch things such as mackerel and southern blue whiting," he says.
Matanuku Mahuika says the company will meet with staff in Nelson this week to consult on the proposed closure of its kirimi crumbed hoki plant, which is no longer profitable because of competition from lower cost Asian producers.
Sealord has about 1000 staff in New Zealand and almost 400 overseas.
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