History In 2004 commercial production of Humphead grouper (Cromileptes altivelis) commenced 200,000 Humphead grouper fry where produced in Histo

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1 Good Fortune Bay RMI Ltd Finfish Aquaculture Grow out Project in the RMI History When the farm was acquired in 2002 by GFB, the initial focus was on Barramundi (Lates calcarifer) ) to establish cash flow for the operation. Good Fortune Bay Fisheries is composed of a Hatchery and growout area in Bowen and a growout location in Kelso, North Queensland. 1

2 History In 2004 commercial production of Humphead grouper (Cromileptes altivelis) commenced 200,000 Humphead grouper fry where produced in History The Barramundi farms produce 1,000 tonnes of Barramundi per year making GFB one of the largest producers of Barramundi in Australia The Hatchery produces 3-5 million fingerling Barramundi per year to supply the industry. The hatchery has produced commercial amounts of Humphead Grouper fry for 3 years. 2

3 The Hatchery Brood stock - 24 x 60 tonne tanks - holding 6 species Larval Rearing - 36 x 5 tonne tanks Nursery - Construction of 90 x 10 tonne tanks This Season 3 million Barramundi (Lates calcarifer) ) with the aim of reaching 5 million. 50,000 Humphead Grouper (Cromileptes altivelis) ) with more spawning s planned. First ever spawning of Cobia (Rachycentron canadum) ) in the hatchery, 200,000 fry produced. Giant Grouper spawned with no fertilization. 3

4 Restraints in Reef fish Aquaculture in Queensland Dealing with the 20 plus steps in obtaining an Aquaculture License in QLD. Time and Cost of obtaining a license Suitable locations for Sea Cage sites Seasonal Water Temperatures Realities of Getting a Sea Cage license Why the RMI? Year round high water temperatures to increase growth rates. Around 28 degrees Celsius. Clean oceanic water. High water exchange in the Lagoon. Stable political situation and currency (US$) Well serviced by shipping from Australia/NZ, USA and Asia. Regular flights from the US and Asia. Sheltered Grow out Locations. 4

5 How it Started Nov A GFB representative was visiting Majuro, RMI and saw the potential for a grow out operation. Dec Organized a meeting with the Marshall Islands Marine Authority. Jan Made an application to set up a pilot scale project through MIMRA and EPA, to gauge logistics and growth rates. Mar Set up a Business RMI Oct Started the Environmental Impact Assessment process for commercial production. Dec Commence construction of the 50 tonne pilot farm for Humphead grouper. Mar Commence construction of commercial grow out farm Initial Commercial Production Plan Humphead Grouper - produce 50 tonnes initially. - look to culture markets and increase production. Cobia - produce 5,000 tonnes initially. - increase production when markets are set up. 5

6 Grow Out Systems Economic cage systems have been sourced from China. Humphead grouper will be cultured in cages 6m length x 5m width x 5m deep set up in a grid. Cobia will be cultured in cages 50m to 100m circumference cages. Examples of over coming the logistics of operating in the RMI Construction of a 60 meter live fish transport ship. - Will be completed in 8 months post EIA approval. - Used to transport the fry from Australia to RMI and fish to market. Agreements in place with a Taiwanese feed company to ship feed fortnightly. In negotiations to have the cobia processed on Majuro by existing processing plants. 6

7 The Future Giant Grouper (Epinephelus lanceolatus) Coral Trout (Plectropomus leopardus) Gold Spot Grouper (Epinephelus coioides) Look into potential for sea ranching tuna - market research will determine production limits. Cage Site Location s Based on extensive Hydrodynamic models. Positioned on the outflow from the Lagoon. In 40m over sand bottoms. Based on SOPAC sonar surveys. 7

8 Markets Cobia - White fillet market - Aimed at Australia, Europe and the USA. Humphead Grouper and other Grouper sp. - Aimed at China, Singapore and Taiwan. Positive impacts Create employment Support service based businesses. Implementation of Quarantine and biosecurity measures. Increase of skilled labor in RMI. 8

9 Issues No frame work in place to accept aquaculture foreign investment. Problems with cross department communication. No information on what is required for licensing. learn as you go environment, which can be daunting when you are investing large amounts of money. Distance between current legislation and local traditions and customs. 9