Monthly newsletter of the tuna fishing industry

According to IATTC reports, the total yellowfin catch in the ETP as of February 28, 2000 was 56,267 MT compared to 48,414 MT for the
same period in 1999. The skipjack catch in the ETP for the same period in 2000 was 41,129 MT, compared to 43,394 MT in 1999. The
bigeye catch in the ETP for the same period in 2000 was way ahead of last year's catch; 10,354 MT for 2000, versus 3,526 MT for 1999. The
total ETP catches for all tuna species for the same period in 2000 was ahead of 1999 by 12,415MT (107,750 metric tons for 2000, versus
95,335 metric tons for 1999).

The balance sheet for 1999 of the French Tropical Tuna fleets is evidence of the economic crisis in the second half of 1999. The industry
cash is down some 27% compared to 1998 which explains the conflict of the crews at the end of the year (see Crow's Nest February 1999)
whose salaries were based upon the boat's turnover. The mean tuna price, all species and sizes included, is about 40% down in 1999
compared to the 1998.

Looking at the world tuna production in 1999, the biggest increase is noted in the Eastern Tropical Pacific where the catches rose some
42% following the arrival of 14 Spanish-controlled purse seiners. In the Western Pacific, the catches have been good but less spectacular.
For instance, the U.S. catches grew some 12%. The Indian Ocean catches increased some 37%, and the Atlantic 9%. All these increase in
catches had adverse effects on the market price which culminated in the below US$400 range during the last quarter of 1999.

After a successful takeover of the French company, Saupiquet, by the Italian company, Trinity (see Crow's Nest January 2000), the new
chairman Trovamala has completed his management team. The newly-hired Xavier Gaudio (ex-general manager of Danone-Italy)
becomes the new general manager. Trinity's Mr. Luoni will supervise the operations, investments and purchases. Both will report to the
chairman. Mr. Riva keeps the Saupiquet's fleet management and will report to Mr. Luoni, while Mr. Feunteun will continue his Saupiquet
tuna procurement activities in cooperation with his Trinity counterpart - Alberto Beneniste. The two large Barreras built "jumbo seiners" Via
Libeccio and Via Gwalarn will leave the Indian Ocean fishing grounds for the tropical Atlantic. It is a consequence of the change in the
company's ownership. In order to make the operation more profitable, it is decided that they are going to fish with the company's 5 other
seiners that are already delivering tuna to Abidjan. The loin processing on board is suspended. The two big boats will deliver only round
frozen tuna in the future. Consequently, the talks with Calvo Pesca and other companies interested in the management of Saupiquet's fleet
is officially ended.

In the U.S., the Commerce Secretary, William M. Daley, announced in January 2000 that the United States will implement new regulations
that meet internationally adopted standards for protecting dolphins in the eastern tropical Pacific Ocean and assure the public that tuna
labeled dolphin-safe had no dolphins seriously injured or killed during tuna fishing operations (see Crow's Nest February 2000). Under the
regulations, tuna products will be allowed to enter into the United States if they are harvested in compliance with the International Dolphin
Conservation Program Act. The regulations will also implement a new labeling standard that allows tuna products to carry a dolphin-safe
label only if no dolphins were killed or seriously injured during a set in which tuna were caught. Previously, only tuna caught when no
dolphins were encircled qualified for the dolphin-safe label on products imported into the United States. Countries, including the United
States, that voluntarily participated in the International Dolphin Conservation Program have entered into a binding, international agreement
limiting dolphin mortalities associated with tuna fishing to less than 5,000 dolphins per year, with additional restrictions to ensure that no
individual stock is adversely impacted. Under the new rules, the United States will allow tuna caught in the Eastern Tropical Pacific through
encircling, as long as no dolphins are killed. The new regulations also establish general requirements to track and verify the status of tuna
imports from the eastern tropical Pacific (ETP). The new tuna tracking program will track both dolphin-safe tuna and non-dolphin-safe tuna
throughout the tuna harvest and processing. In addition, U.S. fishing vessels will be allowed to operate on the same basis as other
signatory nations under a streamlined permitting process for purse seine fishing in the ETP.

As part of the International Dolphin Conservation Program Act, the National Marine Fisheries Services was required to research the effects
of repeated chasings and encirclement of dolphins in the ETP and provide data for an initial finding by the Secretary on whether encircling
dolphins to catch tuna causes a significant adverse impact on three depleted dolphin stocks found in the ETP. Because the research study
did not adequately demonstrate that the depleted dolphin stocks were adversely affected by this fishing practice, the International Dolphin
Conservation Program Act required the Secretary to make the labeling standard change. The Fisheries Service said it will solicit comments
for 90 days on the interim final rule.

Environmentalists are charging the U.S. government with weakening regulations aimed at protecting dolphins threatened by tuna fleets in
the eastern tropical Pacific Ocean. Environmental and animal welfare groups accuse the Department of Commerce of bowing to trade
pressure from the Mexican tuna commercial fishing fleets and a coalition of 10 organizations have filed suit against the new rules. Several
major tuna companies and supermarket chains have promised the U.S. consumers that despite the new rules, they will only sell tuna that
has been caught without chasing and encircling dolphins. StarKist Tuna, Bumble Bee Tuna, and Chicken of the Sea say they use
independent monitors to make sure that no dolphins are netted or encircled by boats that catch their tuna. The coalition against the new
rules is urging consumers to buy these brands and ignore the government label.

Bumble Bee Seafoods Inc. reached an agreement with the Federal Trade Commission to change coupon and cash rebate programs that
federal regulators called "false and misleading," and to compensate some consumers and speed rebates to others. The deal announced
in January with Bumble Bee addressed a special label on the face of its tuna cans that asked consumers to purchase the product with the
promise of a 75-cent coupon for their next purchase. Further details of the program -- those requiring the consumer to buy five cans of tuna
before redeeming the coupon -- appeared on the inside label. Bumble Bee has also agreed to start a new US$200,000 coupon program,
with 7.6 million coupons to be distributed nationally and to include rebate details where consumers can see them.

The Indian Ocean will soon see a new group of tuna fishermen. The deputy directorgeneral of the Fisheries Department of Malaysia,
Hashim Ahmad announced that Malaysian vessels will soon be in the Indian Ocean to fish for tuna. Under the Indian Ocean Tuna Fishing
Treaty Agreement signed in 1997, Malaysia was given the rights to fish in the Indian Ocean. The director-general, Datuk Mohd Mazlan
Jusoh, also said that his ministry will issue more licenses to "fully committed and genuine" fishing operators to go into deep sea fishing
for tuna in the Indian Ocean. Tuna landings in peninsular Malaysia, Labuan off Sabah and the east Malaysian states of Sabah and
Sarawak only totaled 2,500 MT last year. A further 20,000 MT were landed from the Indian Ocean. According to Malaysian estimates, 66,000
MT can be taken from Malaysian waters while the catch from the Indian Ocean could be doubled.

Many new tuna products were introduced into the market over the last few months. Sainsbury's, the UK supermarket chain, has introduced
its own label brand of Ginger (flavored) Tuna. Each 200g can contains line-caught skipjack tuna in ginger-flavored soya oil. Sainbury's
on-the-can serving suggestion recommends the product as a filler for sandwiches or baked potatoes, or tossed into salad or pasta using
the oil for extra flavor if desired.

Australia's Greenseas, has introduced the "Tuna Plus Heat & Eat" meals, which are quality premium products that provide consumers a
ready-to-serve meal solution for any occasion. The 400g meals consist of delicious light chunky tuna, pasta shells, vegetables, spices and
distinctive sauces combined in a heat-and-eat form. This new range will start with four contemporary flavours - Greenseas Creamy Tuna
Mornay, Tuna Italienne, Satay, and Thai Red Curry.

In the Tuna steak market, ANOVA Food of the Netherlands broadens its product range with the introduction of fish steaks that include tuna.
The tuna is imported from Indonesia and shipped directly to the Netherlands and sold frozen or defrosted. ANOVA says the fillets' original
quality, taste and shelf life are guaranteed by a "traditional" smoking process. The steaks are available in 160-200g and 300-450g sizes.

Cobrecaf's tuna purse seiner "Torre Giulia" is now selling its "frozen at sea" Tuna steaks under the brand "Wild Fish". Some 20 kilos fresh
round Yellowfin are selected during the fishing trip. They are bled, dressed and gutted. Some are filleted and then wrapped under vacuum
sealed plastic bags and blast frozen at minus 35dC. A Concarneau food servicer, JP Tallex, carves them into frozen steaks that are
individually packed for the retail self service shops.

The following is an excerpt of TUNA PURSE SEINING to be presented by CASAMAR at the Ist FISHING GEAR SYSTEMS 2000 Symposium
on March 27-29, 2000 at the Scottish Exhibition & Conference Center, Glasgow, Scotland. It immediately precedes "Fishing 2000,"
which is dubbed as Europe's millennium fishing event. The event is organized by EMAP Heighway, the leading publisher of UK's
weekly newspaper "Fishing News " and the international market leader, "Fishing News International ". CASAMAR THANKS "EMAP"
FOR THE KIND INVITATION.

The introduction of nylon braided tuna purse seine nets in 1959 led to the conversion of live bait boats to tuna purse seine fishing. Mr. Ben
Ichiyasu, founder of the CASAMAR Group, developed the use of nylon filament for tuna purse seine nets. The use of nylon filament nets
together with the development of the Puretic power block net handling system revolutionized the tuna fishing industry.

Over 95% of the tuna purse seine nets worldwide use nylon. Over a vast majority of them use nylon braided netting material. Nylon braided
remains the most economical and practical material to use. Over the years, they have experimented with other materials such as
polyester and HMPWE (high density polyethylene fibers) more commonly known under their trade names Dyneema® and Spectra®.

Polyester is cheaper than nylon on a per-pound basis but it is a heavier material than nylon. Polyester nets sink faster than nylon nets.
Unlike nylon, polyester does not have the necessary properties to handle strain. A combination net with polyester and nylon will sink faster
than a net that is 100% nylon. When fast sinking becomes a major concern to the fisherman, polyester can be used in parts of the net
such as the stem end where there is minimal strain. To accelerate sinking speed further, CASAMAR recently developed a Polyester
Braided Selvedge Net with a lead core. The #120 x 5 " x 10md with a lead core should be available by the middle of 2000. Sinking speed of
the whole net with a leaded selvedge will increase at an estimated rate of 20%. (To be continued ... )