Tag Archives: quota reduction

Qikiqtaaluk Corp. may lose $2M as a result of cuts to shrimp quota in Nova Scotia

f-v-saputiQikiqtaaluk Corporation, which had one of its vessels damaged earlier this year from striking ice, is now concerned reductions to the Northern shrimp quota for offshore trawlers in Nova Scotia will hurt its bottom line even more. The quota reduction mainly affects companies in Nova Scotia. However, Qikiqtaaluk, the biggest fishing company in Nunavut, also fishes those waters during the winter months. “Having this other announcement is another blow,” said Harry Flaherty, president and CEO of Qikiqtaaluk Corporation. Qikiqtaaluk lost approximately $4 million when the F/V Saputi struck ice in February. It had to be shipped to Poland for repairs and the company also lost months of valuable fishing time, said Flaherty. Now, the Fisheries and Oceans Canada announcement on quote reductions means Qikiqtaaluk may lose an additional $2 million in shrimp stock, said Flaherty. Read the rest here 09:59