Frabelle Fishing adds ship to tuna fishing fleet; could increase annual catch by 8,000 MT

Frabelle Fishing Corp., one of the world's leading fishing groups, on Wednesday, 19 June, unveiled its latest addition to its tuna fishing fleet.

Called "Red Robin 88," the new tuna purse seiner seeks to bolster Frabelle's fishing capacity in the Western Pacific Ocean and help local canneries’ increase 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 metric tons, most of which will be delivered to canneries in General Santos City,” said Floyd Tiu Laurel, President of Frabelle Fishing Corp.

During the vessel's launch, Tiu Laurel stressed the company's commitment to support the local tuna processing industry. "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 that government will provide additional incentives to further drive expansion and growth of the tuna canning industry,” he added.

According to the Philippine Fisheries Profile report from the Bureau of Fisheries and Aquatic Resources for 2022, the commercial fisheries sector achieved a total production of 862,686 million metric tons, valued at P74.93 billion. Among these fisheries, tuna stood out as the largest contributor, accounting for 335,210 metric tons of the total production volume.

In terms of foreign trade performance in 2022, the Philippine fishery industry reported a net surplus of USD292.25 million, with total exports valued at USD1.21 billion. The export volume of fishery products increased by 9.41 percent, with tuna, seaweed, and crabs collectively representing over 58 percent of export value. Tuna retained its position as the leading fishery export, with its volume rising by 17 percent to reach 106,923 metric tons, valued at USD403.5 million.

The global market size for canned tuna was estimated by international market reasearch and management consulting company, Global Market Insights, at USD8.9 billion in 2022 and is anticipated to grow to USD13.8 billion by 2032. This robust market growth presents significant opportunities for expansion within the local canned tuna industry, highlighting its potential for substantial development in the coming years with assistance and incentives from government.

The introduction of Red Robin 88 aligns with the Philippine government's push to enhance food security, increase fishery exports, and attract investments in the industry to generate more jobs and boost economic growth. Established in 1966, Frabelle Fishing is the flagship company of the Frabelle Group, renowned for its diverse interests including deep-sea fishing, aquaculture, canning, food manufacturing, processing, and more.

Tuna purse seiners like Red Robin 88 employ vertical net curtains to capture dense schools of tuna, utilizing a technique where the bottom is drawn together like a purse string to secure a large quantity of fish. Originally built in Taiwan in 2010, the vessel underwent refurbishment before being registered under the Philippine flag by the Maritime Industry Authority.

Tiu Laurel shared the inspiration behind the vessel's name, stating, “As with all ships in Frabelle Fishing's fleet, this new addition was named after a flower—the small cream flowers of the Red Robin shrub—courtesy of our family matriarch, Bella Tiu Laurel.” Notably, Red Robin 88 shares its name with another vessel in Frabelle Fishing's fleet, Red Robin 888, registered in Papua New Guinea.

With a crew of 30 seafarers, Red Robin 88 will deliver its catch to canneries in the Philippines as well as to Frabelle Fishing's own processing facility in Papua New Guinea. This new addition expands Frabelle Fishing's tuna purse seiner fleet to 14 vessels, strategically positioned in the Philippines and Papua New Guinea.

Looking ahead, Tiu Laurel expressed ambitions for further fleet expansion, aiming to create more job opportunities for Filipinos and contribute significantly to the growth of the Philippine economy and nation-building efforts.

Frabelle Fishing Corp. continues to play a pivotal role in the Philippine fishery sector, leveraging its expertise and expanding capabilities to strengthen local industries and support economic development initiatives.