Frabelle Fishing Corp. has added another vessel to its tuna fishing fleet that will increase its annual catch by 8,000 metric tons (MT).
The new tuna purse seiner Red Robin 88 unveiled on Wednesday will increase its capacity in the Western Pacific Ocean to help local canneries boost production for both the domestic and export markets.
“The deployment of Philippine-flagged Red Robin 88 in the Western Pacific is expected to increase Frabelle Fishing’s annual tuna catch by at least 8,000 MT, most of which will be delivered to canneries in General Santos City,” said Floyd Tiu Laurel, Frabelle Fishing president.
The new vessel expands Frabelle Fishing’s tuna purse seiner fleet to 14 vessels strategically positioned in the Philippines and Papua New Guinea. It has a crew of 30 who will deliver its catch to canneries in the Philippines and to Frabelle Fishing’s own processing facility in Papua New Guinea.
“Increasing our tuna deliveries to the Philippines is our contribution to the growth of tuna processing, an industry that has helped fuel our company’s growth. We’re hopeful the government will provide additional incentives to further drive expansion and growth of the tuna canning industry,” Tiu Laurel said.
Tuna purse seiners like Red Robin 88 employ vertical net curtains to capture dense schools of tuna using a technique where the bottom is drawn together like a purse string to secure a large quantity of fish.
The new vessel was originally built in Taiwan in 2010 and later refurbished prior to registration under the Philippine flag by the Maritime Industry Authority.
The commercial fisheries sector posted total production of 862,686 million metric tons worth P74.93 billion in 2022 based on data from the Bureau of Fisheries and Aquatic Resources. Of the volume, tuna accounted for 335,210 MT.
Frabelle Fishing also said the Philippine fish industry reported a net surplus of USD292.25 million with total exports valued at $1.21 billion.
Tuna retained the leading fishery export of 106,923 MT valued at $403.5 million. The canned tuna market was estimated by Global Market Insights, an international research and management consulting company, at $8.9 billion.
Frabelle Fishing said the global market for tuna is seen to grow as much as $13.8 billion by 2032.
