Peterhead Port Authority has marked a significant milestone in the modernisation of the UK’s largest whitefish market with the commissioning of its fourth and final electronic auction clock, completing the transition to a fully integrated e-auction platform.
The installation represents the culmination of a major investment programme designed to enhance efficiency, transparency and accessibility for fishermen, buyers and processors operating through Peterhead Fish Market.
The new auction clock further enables buyers to participate remotely and provides greater flexibility in the sale of seafood landed at the port.
Graeme Reid, Chief Executive Officer of Peterhead Port Authority, said: "The launch of our fourth and final auction clock marks the successful completion of a transformational project for Peterhead Fish Market. This investment modernises the way seafood is traded, improves operational efficiency and helps ensure Peterhead remains at the forefront of fish market innovation in the UK.
"The E-auction platform has been developed in collaboration with our industry stakeholders and has already demonstrated significant benefits for both sellers and buyers. Increased buyer participation through the platform has created strong competition within the marketplace, contributing to robust prices and supporting increased market activity. By completing this final phase, we have strengthened the market's ability to handle future growth whilst delivering a more accessible and resilient auction process."
The introduction of E-Auction has continued to attract strong buyer engagement and competitive purchasing activity. This has contributed to an increase in the year-to-date gross value of whitefish sales through Peterhead Fish Market compared with the corresponding period last year, demonstrating the continued strength and attractiveness of the market.
Since the first electronic auction clock went live in April, and throughout the phased implementation of all four clocks, the platform has recorded almost 200,000 bids and facilitated the sale of more than 38,000 lots. These figures highlight the strong adoption of the system by buyers and sellers and the scale of activity now being conducted through the electronic marketplace.
The completion of the fourth auction clock comes during a period of significant investment across Peterhead Port's seafood infrastructure. Peterhead Port Authority is nearing completion of a major development project delivering six new state-of-the-art fish processing units, representing an investment of more than £3 million. The facilities have been designed to support the continued growth of seafood processing and value-added activity within the port estate, further strengthening Peterhead's position as the UK's premier whitefish hub.
The E-auction project has involved substantial investment in digital infrastructure, personnel, operational processes and staff training. The completed system provides enhanced auction capacity and supports Peterhead's continued role as a critical hub for the Scottish and UK fishing industries.
As the UK's leading whitefish port, Peterhead continues to invest in infrastructure and technology that supports the long-term sustainability, efficiency and competitiveness of the fishing and seafood sectors.