Tag Archives: New England groundfish industry
An ocean of ambition
One by one, a trustee listed the assets up for sale: eight commercial fishing vessels and 48 federal fishing permits. It was a fire-sale liquidation for bankrupt Blue Harvest Fisheries — one of New England’s largest seafood companies — and the largest bundle of groundfish permits in recent history to come available on the market. Bids, the trustee announced, would start at $10 million. Cassie Canastra was first to act: “$11 million,” she said, without skipping a beat. There was a brief pause, as a team representing O’Hara Corporation, part owner of New Bedford-based scallop giant Eastern Fisheries, huddled to discuss their options. They raised the bid to $11.25 million. “$12 million,” Canastra responded, showing no sign of relenting. Photos, more, >>click to read<< 11:03
Will bankruptcy auction break up New Bedford’s fishing fleet?
Blue Harvest Fisheries’ last assets could be sold at a bankruptcy auction as early as Wednesday, court filings show. Mayor Jon Mitchell and the New Bedford Port Authority have urged the bankruptcy trustee to ensure both the boats and permits remain in New Bedford, the nation’s top-earning commercial fishing port. Some fisherman and advocacy groups say regulators should seize the moment to break up the permits and enact stricter antitrust rules to limit future consolidation of the fishing business. The assets up for auction include eight commercial fishing vessels and 48 state and federal fishing permits, representing about 13% of all quota in the New England groundfish industry. Blue Harvest is the region’s single-largest groundfish permit holder. >>click to read<< 20:42
Don Cuddy: Collaborative research can save the New England groundfish industry
The data used for fish stock assessment in the Northeast is derived primarily from the annual spring and fall surveys conducted by the Henry B. Bigelow, the Northeast Fisheries Science Center’s 208-foot research vessel. The results are largely distrusted by many fishermen who contend that NOAA is using the wrong bottom-trawl gear on a vessel that is in any case too large for the task. Furthermore, fishermen say, random sampling of the vast survey area is not sufficient to develop an accurate picture of stock abundance. Read the rest here 08:07
Breaking – New England States reach consensus on plans to distribute groundfish disaster funds
The state fishery directors from Maine, New Hampshire, Massachusetts, Rhode Island, Connecticut and New York, in partnership with NOAA, today announced a proposed framework for the distribution of $32.8 million in federal disaster monies to the New England groundfish industry. Read more here 15:47
