Company Profile
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In May-June, 2005, SeaHAVN (DE), Ltd. and New Bridge Capital, Inc., a publicly traded corporation, completed a merger and asset acquisition that resulted in the publicly traded company being renamed as SeaHAVN Corporation (NV) with a new stock symbol SVNR.PK. The transactions consolidated all of the assets of SeaHAVN (DE), Ltd. and certain assets of SeaHAVN, Ltd. (BVI), within SeaHAVN Group, Ltd (BAH), a wholly owned subsidiary of SeaHAVN Corporation, including two (2) commercial fishing licenses within the 200 mile Exclusive Economic Fishing Zone of Mauritania (West Africa) with proven fishing grounds and Memorandum of Agreements to purchase two (2) 105 meter factory fishing trawlers. Up to ten (10) additional commercial fishing licenses within the same fishing zone are available as well as proceeds from sale of 8x62 meter operating factory fishing freezer trawlers pursuant to agreements. The corporate re-structuring will also provide for SeaHAVN Group, Ltd. (BAH) to wholly own separate vessel-owning companies for each 105 meter vessel to be acquired. The Company plans to acquire four or more sister 105 meter vessels available during 2006 and 2007. Vessel Management and Marketing will be conducted pursuant to Management and Marketing Agreements between each vessel company and SeaHAVN (BVI), Ltd. and/or other contractors including the current managers of the 105 meter vessels.
SeaHAVN, Ltd. (BVI) was organized in 1997 as the principal holding company for ownership interests in factory freezer fishing trawlers operating in the North Atlantic and Indian Oceans and whose production is marketed principally to Europe, Asia and West-African markets. The principal managers and associates of the company have owned, operated and managed factory freezer fishing trawlers and marketed their production for more than 30 years in the United States, Canada, Europe, Asia, Africa and Latin America. They have also actively participated in the development of fisheries regulatory regimes in a variety of coastal nations as well as the financing of fishery projects worldwide. Since 1995, the company through its affiliates, has owned, operated and managed thirteen factory freezer fishing trawlers in the 62 meter class pursuant to pelagic licenses in Mauritania and arranged for the renovation of five similar-sized vessels in the United States, Germany, Mexico and the United Arab Emirates for operation in the North Atlantic and Indian Oceans. Beginning in 2006, SeaHAVN, Ltd. (BVI) an associated company sold its vessels to focus on acquisition of replacement vessels in the 100 plus meter class that have double the freezer capacity of its prior operating vessels, to maximize efficiencies and that can operate in both traditional and unique domestic and international fisheries. This goal is being achieved by the purchase of quality operational vessels as they become available and by developing new constructions.
SEAHAVN has identified specific operational vessels targeting horse mackerel for part of the year in the South Pacific in international waters beyond exclusive zones and krill in the Southern Ocean for the balance of the year for the production of krill meal and krill oil with significant market utilization in aquaculture feed and production of pharmaceuticals. The vessels are fully serviced at sea including transshipment of on-board production and provisioning of vessels with fuel, lube oil, food, provisions, spare parts, crew changes and supplying packaging materials.
These fisheries represent significantly under-utilized resources. Krill is the second largest biomass in the world exceeding 4.5 billion metric tons exceeded only by the Alaskan biomass. Current worldwide production has been less than 200,000 metric tons annually. The opportunity for growth is significant. SEAHAVN intends to participate in the development of that resource as its principals have participated in the pioneering development of the U.S. factory freezer fishing trawler fleets in Alaska. In this regard the company intends to acquire a minimum of two operational 105meter factory fishing freezer trawlers with vertically integrated operational, management and marketing structures that are currently in place and successfully operating. These vessels are capable of also accessing the west-African pelagic fisheries and will target established stocks of Spanish mackerel, horse mackerel, sardinella and merlu (hake) within the nutrient-rich coastal up-welling zone of Mauritania where the company's managers have been actively involved and where the company has licensing available for up to ten 105 meter vessels for unlimited annual pelagic harvests for ten years.
While operating in the pelagic fisheries in either or both of the South East Pacific Ocean and/or the 200 mile Fisheries Zone of Mauritanian the vessels will produce whole round frozen twenty kilo blocks of Horse and Spanish Mackerel and Sardinella and supply existing international markets.
SeaHAVN Corporation has organized SeaHAVN Group Limited, (BAH) a wholly owned subsidiary to acquire or establish the vessel owning companies and flag and register the vessels in lender approved jurisdictions. Currently the vessels are owned by Cyprus corporations and are flagged and registered in Vanuatu.
