KOSMOS sales by Shetland Seafood Auctions in new fish market facilities

In 2020, Shetland Seafood Auctions (SSA) went for a full make-over. They combined the implementation of KOSMOS, the real-time auction system in the cloud, and the inauguration of the new fish market facilities in Lerwick and Scalloway. Although the Covid-19 pandemic is hitting the fishing industry very hard, SSA is more than ready for future growth.

Lockdowns around the world caused consumer demand and prices for seafood to drop severely this year. Like many other sectors, the fishing industry is highly affected by the COVID-19 pandemic.

However, SSA is looking further than the current market situation. Last fall, they combined the launch of their new auction system in the cloud – KOSMOS – with the opening of the brand-new fish market facilities for both Lerwick and Scalloway.

SSA is convinced of the fact that digital trading is the future. SSA’s Auction Manager Mr. Martin Leyland: “KOSMOS has the potential to speed up the sale, which is necessary because the new facilities hold double the capacity of the previous ones to store, sell and distribute the fish landings.”

Due to the COVID-19 situation, it is too soon for SSA to comment on the attraction of additional buyers or any influence on the price-making. But the advantages for the buyers compared to the previous remote buying system are very clear. “The buyers have settled into the new system well and several local buyers are buying directly from their offices”, Mr. Leyland says. “They are pleased with the added features on the reporting side which makes the allocation and distribution of their purchases more efficient.”

The advantages of electronic auctioning are not new to SSA. Mr. Leyland: “We have been selling through an electronic auction for many years. It gives a transparent and competitive bidding situation for the fish, and the average unit prices paid to the fishermen are much higher.”

He concludes: “Thanks to the expanded capacity of the new facilities and the state-of-the-art auction system KOSMOS, SSA is ready to grow in the years to come!”