Fishing industry moves to sell off some of its 700

Fishing industry moves to sell off some of its 700,000 emissions units

The fishing industry is moving to sell its allocation of NZUs in large parcels, the country’s specialist carbon market information service, Carbon News (www.carbonnewws.co.nz), reports this morning.

The one-off issuance of 700,000 NZUs, in recognition of the impact the Emissions Trading Scheme will have on fuel prices, was made yesterday, Carbon News reports in an exclusive story this morning.

It says 85% of the units have been given to the country’s 10 largest fishing quota holders.

Industry heavyweight Sanford – which has been given 170,839 units – is now offering to aggregate smaller parcels, some of which consist of just a couple of units.

Sanford chief Eric Barratt would not say this morning whether his company intends holding or selling its allocation, but told Carbon News that the market “seems to be improving”.

He says that Sanford is offering to aggregate smaller parcels.

“We’re offering to co-ordinate individual units for those who want to,” he said.

“We are trying to provide aggregation for them to move their units in conjunction with the larger parcels so they don’t disrupt the market.”

Carbon trader Nigel Brunel, of OMFinancial, is also offering to aggregate smaller parcels on a clean net basis (without brokerage).

Carbon News also details the units given to other large quota holders.

ENDS

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