Tag Archives: plans to sell his fleet

“I’m gonna cash in and screw.” – King of New England groundfishing plans to sell his fleet out of New Bedford

The biggest player in the New England groundfishing industry says he is cashing out of the business, selling off his scallopers and later his groundfish draggers, which count among the last in the country’s top-grossing fishing port. Rafael refused to name the company but said his decision is in response to the state’s cutting in half the amount of federal groundfish disaster relief aid he would get. The policy applies to all Massachusetts permit holders but will affect only Rafael because he’s the only one with more qualifying permits than the 10.9 permit cap. Read the rest here 11:38