Tag Archives: Capital Seafoods

Canadian lobster exporters feel ripple effect of U.S.-China trade war

The United States-China trade war is creating choppy seas for Canada’s lobster exporters. It has led to the dumping of Maine lobster — now priced out of China — in other Asian markets and Europe, said Jack Liu, president of North American operations for Zoneco, a large Chinese seafood company with a Nova Scotia operation. Dumping is when a country or company exports a product in a foreign market at a price that is lower than the price in the exporter’s domestic market. “All of a sudden they lost the Chinese market due to the 25 per cent tariff and what are they going to do? They are going to dump those amount of lobster into other parts of the world market. We have seen that,” said Liu. >click to read<19:08

Chinese owners vow to rebuild Eastern Passage lobster plant

tom-henneberryThe Chinese owners of the Capital Seafoods plant in Eastern Passage, N.S., say they will repair and rebuild the lobster processing facility damaged in a spectacular fire Wednesday night. “We will carry on. We will be better and stronger, I’m sure,” company manager Jack Liu said Thursday. The fire destroyed the company’s lobster processing facility, he said, but did not affect the live shipment area, which will continue operate. Liu spoke to CBC News minutes after touching down at Halifax Stanfield International Airport, en route to the plant to check out the damage first hand. On the down side the fire destroyed large amounts of bait stored at the facility for traps intended for the upcoming lobster season. “Myself, I had 14,000, 15,000 pounds in there,” lobster fisherman Tom Henneberry said. “It’s terrible. A week before the season, a lot of fishermen put bait in there yesterday and the day before.” Read the story here 10:25