Tag Archives: consolidation

Did catch shares enable the Codfather’s fishing fraud?

Carlos Rafael’s guilty plea late last month of falsifying fish quotas, conspiracy and tax evasion has prompted renewed criticism of one of the most contentious parts of the New England groundfish fishery’s management system: catch shares.Rafael, who dubbed himself “The Codfather,” owned one of the largest commercial fishing fleets in the United States, and for some community fishermen in New England, his case represents consolidation run amok. Consolidating fishing permits, they say, also centralizes power, making fraud more likely. But for environmentalists who support catch shares as a way to reduce overfishing, consolidation isn’t inevitable. They say Rafael’s case highlights the need for better monitoring and fraud protections to prevent the sort of cheating that can plague any fishery management system. click here to read the rest 19:09

Fulcher family-owned processor ‘may be beneficial’ in future

alaskaGreg Fulcher hit US scallop sector headlines recently by paying $7 million to secure the fishing vessel Alaska, complete with permit, from New Bedford, Massachusetts-based Oceans Fleet Fisheries. However, he is far from the only Fulcher in the seafood business. “In the future, depending on consolidation in the sector and what happens with permits on boats, it might be beneficial to go into processing, with all of us owning one plant, with our raw materials going into it,” he suggested. Fulcher believes changes are coming to the US scallop sector, which will allow a company to stack more than one permits on a vessel. Read the rest here 16:26

Consolidation: Greg Fulcher buys scallop vessel, permit from Oceans Fleet for $7m

alaskaNewport News, Virginia-based vessel operator Greg Fulcher has bought a scallop boat and license from Oceans Fleet Fisheries for $7 million, in the latest example of big money being spent in the US sector. At 92.1 feet long 171 metric tons gross tonnage, the Alaska was the largest vessel in the New Bedford, Massachusetts-based company’s fleet of 19 — now 18. “I also bought the Mistress last month, which is a part-time scallop boat. I bought it from Mistress Fishing Corp. out of [Massachusetts], with the help of [shipbrokers] Athearn Marine Agency,” he said. Read the rest here 14:36:03

“Consolidation was coming, and now it’s here.” Foreign investment heats up in US Fishing Industry

The Cooke family’s acquisition of scallop firm Wanchese Fish Company on Friday is one of several signs foreign investors are taking the lead on US seafood consolidation, and this spring, their interest seems to be heating up. The US seafood industry ripe for the picking. A source at a US-based Alaska company, owned by a foreign company, said the US market is also likely attractive to investors due to US fisheries reputation for having the gold standard in management, making them a more reliable investment than fisheries teetering on the brink of instability overseas. Read the rest here  14:30

Jeff Davis: Peabody deal is ‘platform’ for more scallop vessel buy-outs

The deal by Bregal Partners and other investors for US scallop fishing firm Peabody will be a platform for more vessel acquisitions in the sector, said Jeff Davis, who will be CEO of the new company. On April 23, former American Seafoods International and Baader North America CEO Davis confirmed the buyout of Peabody and its eight scallop vessels, which is being renamed Blue Harvest Fisheries. Read the rest here  17:02

CCA takes stand against Gulf red snapper Reef Fish Amendment 40

If Amendment 40 passes, 75 percent of the entire Gulf red snapper fishery will likely be privately held for private profit. Sector Separation proposes to separate charter/for-hire businesses from the recreational sector and give personalized allotments of red snapper to use as their own. <Read more here> 15:43

Read more here: http://www.sunherald.com/2014/08/09/5737827/cca-takes-stand-against-gulf-red.html?sp=/99/228/263/#storylink=cpy

A Proposal for NOAA – Sean Cosgrove (CLF)

Why does this current groundfish crisis seem so familiar? As the populations of New England’s cod, haddock and flounder have continued to decline, it’s not surprising that the number of fishing boats chasing them have declined. The business of consolidation within any,,,,,,,,,,,,,,,

http://www.talkingfish.org/opinion/a-proposal-for-noaa?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+talkingfish%2FtfWC+%28Talking+Fish%29&utm_source%EF%BF%BDedburner

John Bullard, NOAANational Oceanic and Atmospheric Administration. MPBN Radio Interview – August 29, 2012