Tristan da Cunha Economy News

New Tristan da Cunha Lobster Concession Announced

It was announced on the 27th May 2025 that following a competitive tendering process, Fortuna Ltd will be taking over the Tristan Lobster Concession from 2027.

Having won the tender, Fortuna will be granted exclusive long-term rights to fish for lobster around the islands making up the Tristan Group. Fortuna will also be contracted to provide the passenger and cargo service linking the island to Cape Town, and to manage the island's power generation amongst other requirements.

Chief Islander, Ian Lavarello (left)), commented, "Fortuna is a highly regarded, substantial fishing company with worldwide operations. Tristan's premium lobster will integrate into Fortuna's global seafood distribution channels, which are focused on high-quality products. Their enhanced, dedicated vessel will transform passenger access to the island. This will help all facets of island life: medical, social and economic and enable new tourism and scientific opportunities. It is exciting to be working with a company from another British Overseas Territory, who understand remote island life in the South Atlantic. We look forward to working with Fortuna to implement the new arrangements." 

James Wallace, Managing Director Fortuna Ltd (right), said: "This partnership promises exciting opportunities for the people of Tristan da Cunha and for Fortuna. We are delighted to collaborate for mutual benefit with a fellow British Overseas Territory, and to provide Tristan with an enhanced, dedicated, passenger vessel. Tristan lobster is known to be the best in the world, and we are excited to bring our extensive experience to developing this exciting new product in our world-class portfolio"

About Fortuna Ltd.

Fortuna is a privately owned company based in Stanley, Falkland Islands, with an office in Amsterdam, Netherlands, and currently recruiting in Cape Town. The company has hitherto fished in the waters of the Falkland Islands, and together with associate companies, the waters of South Georgia and the South Shetland Islands.

	The company's principal products are Patagonian Hake, Red Cod, Patagonian Red Fish, Falkland Herring, Southern Blue Whiting, and Patagonian Toothfish. With the addition of Tristan Lobster, the company will extend its provision of the choicest products from the Falkland Islands and the waters of the South Atlantic to international customers.
	More information about Fortuna can be found on their website at: http://www.fortunaseafoods.com/
	Left: Tristan lobster tails cooked and ready to eat