PETERHEAD CONSULTS ON ELECTRONIC AUCTION

Peterhead consults on electronic auction

Peterhead Port Authority has initiated a consultation to explore the potential implementation of an electronic auction system within the Fish Market. Graeme Reid, the Chief Executive Officer, emphasised the commitment of the Board and Executive team to ensure the Port operates in line with the principles outlined in the “Guide to Good Governance” for Modern Trust Ports in Scotland. The Authority regularly evaluates risks, threats, and opportunities similar to any commercial entity.

Following the March Board meeting, it was noted that recent trends in fish landing distribution towards harbours with electronic auctions pose a significant risk to Peterhead’s fish market. With electronic auctions becoming commonplace and gradually being adopted in various markets, there is acknowledgment of potential benefits in maximising supply and enhancing demand by facilitating remote purchases.

Consequently, the Peterhead Port Authority will conduct an in-depth examination of the multifaceted factors involved in contemplating the introduction of electronic auctions at the Fish Market. The Board aims to make well-informed decisions for the future based on this comprehensive review.

Recognising the diversity of perspectives among stakeholders, both individual and business entities, the Port Authority invites engagement from all interested parties to discuss the matter further. It is acknowledged that stakeholders may identify similar risks, threats, and opportunities within their own operations, and their insights are valued in shaping the Authority’s decisions moving forward.

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