Tri Marine Completes Purchase of Saupiquet Seiners

TriMarine and their joint venture partner Edmund Gann have taken delivery of the giant purse seiners Via Libeccio and Via Gwalarn from Saupiquet.

These boats are among the largest purse seiners in the world with 107 meter LOA. They were built at the Barreras shipyard in Vigo, Spain in 1996 and 1997.

Renato Curto, president of TriMarine and Edmund Gann are close friends. Mr. Gann and TriMarine have had several successful business ventures together including their recent shareholding in Chicken of the Sea.

The vessels will undergo repairs and modifications in Spain before they are deployed for fishing operations. They will be flagged in the Federated States of Micronesia and operated in the Western and Central Pacific. The Via Gwalarn will be renamed the "Cape of Good Hope" and the Via Libeccio will be renamed the "Bold Venture".

The acquisition of the Cape of Good Hope by TriMarine is part of the Company's fleet upgrading program. TriMarine intends to sell its older vessels and replace them with newer and more efficient capacity.

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Background on Tri Marine

Tri Marine is a tuna supply company with focus on supply of tuna and tuna products to the leading brands of tuna. It has offices in 14 countries and processing activities in plants located strategically around the world. Its tuna purse seiners operate in the Western Pacific and the Eastern Tropical Pacific. Tri Marine was formed in Singapore in 1972. Since then the company has grown to be one of the largest tuna supply companies in the world. Tri Marine is privately owned.