Tag Archives: Buyers and Sellers Exchange
New Bedford State Pier proposal makes fishing a destination attraction.
It’s a joint proposal from Buyers and Sellers Exchange seafood and New Bedford Fishing Heritage Center. They say their $15 million proposal will promote economic growth and education, wrapped up in a destination-style attraction. BASE, the seafood auction house founded in New Bedford in 1994, would off-load the incoming catch at the Pier, and then hold its daily seafood auctions before the scallops and fish are sent on their way to myriad outlets. All in view of the visiting public. There will be a seafood market, as well, for folks who want to bring home that night’s dinner along with their experience. 8 photos, more, >>CLICK TO READ<< 09:44
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
Lawsuit filed by Quinn Fisheries and Blue Harvest Fisheries against Carlos Rafael’s trustee and three arbitrators
Quinn Fisheries and Blue Harvest Fisheries filed a lawsuit last week against Carlos Rafael’s trustee and three arbitrators, alleging they are blocking a multimillion-dollar transaction of vessels and permits that was scheduled to happen April 16. The permits are for scallops and multi-species fish. The fishing seasons have already started or will soon start and because the transaction cannot be finalized, Quinn Fisheries and Blue Harvest state they will experience serious and irreparable financial harm. According to the 19-page complaint, Quinn Fisheries planned to transfer certain vessels and permits to Blue Harvest, and then purchase vessels and permits from Blue Harvest. >click to read< 11:08
Carlos “Codfather” Rafael settlement rankles local fishermen
By the start of the new fishing year on May 1, Carlos Rafael, once owner of one of the largest fishing fleets in the country and known as the “Codfather” will officially be little more than a memory on the New Bedford waterfront. According to his attorney John Markey, Rafael will have sold off all of his fishing empire as part of a settlement agreement with the National Oceanic and Atmospheric Administration, and will be out of the fishing industry forever. >click to read< 20:32
New Bedford seafood auction stops sale of Rafael’s boats to Blue Harvest
The fate of Carlos Rafael’s groundfishing vessels is still uncertain, with companies jockeying to get their hands on what’s left of the Codfather’s fleet. According to the CEO of Blue Harvest Fisheries Keith Decker, the company signed a purchase and sale agreement for Rafael’s groundfish vessels, but the agreement was subject to a 30-day Right of First Refusal Period, allowing other members of Rafael’s former sector a chance to match or better the bid. Buyers and Sellers Exchange (BASE) exercised that right, Decker said, “We were notified by Rafael’s attorney on Friday evening.” >click to read< 22:15
SouthCoast Woman of the Year: Canastra’s drive helping keep groundfishing alive
Among the grizzled lifelong fishermen sat six-year-old Cassie Canastra. She staked claim to the seat toward the right side of the second table in the small room where thousands of pounds of fish were auctioned off each day. Her spot faced the television and was the closest to the sweets brought by her father, Raymond. Her pastry of choice: Malasadas. “She knew I was going to go to the Portuguese bakery before work. She wanted that,” Ray said with a loud chuckle. “That’s the truth.” The malasadas certainly didn’t deter her from begging her parents to wake hours before sunrise to arrive at the Buyers and Sellers Exchange seafood auction for 4:30 a.m. >click to read<11:56
