Chile - Invermar has at least $200,000 scallop farm losses from tsunami

Date: October 1, 2015

September 25, 2015

The true extent of the losses will become known once recovery of the biomass is underway and completed, said the company.

In a statement to the Santiago stock exchange this Friday, Invermar said the earthquake and tsunami which hit Chile on Sept. 16 caused major damage to a scallop farm in the Bay of Tongoy (Bahia de Tongoy) owned by its subsidiary, Invertec Ostimar.

The events caused about 80% of the crop lines to be cut, while 10% disappeared, said Invermar.

The biomass at the site was valued at $2.024m on June 30, 2015, it said.

Invermar estimates that recovery, and ordering of new growing lines, will take a couple of months. Only once the work is done will it be able to fully assess the true damage and biomass loss endured, it said.

The material damaged included damage to ponds, buyos, ropes and office equipment, among other things, it said. The hatchery area suffered no damages, however.

Source: Undercurrent News

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