Tag Archives: catch share policies
The collapse of fishing giant Blue Harvest exposes the weakness of catch share policies
In October 2023, wrecking crews finished scrapping the last of a dozen fishing boats that had once owned by the notorious New England fishing magnate nicknamed wrecking crews finished scrapping the last of a dozen fishing boats that had once owned by the notorious New England fishing magnate nicknamed “The Codfather.” Carlos Rafael, who started out as a fish gutter in New Bedford, Massachusetts, aggressively worked — and sometimes cheated — his way up the ladder, eventually coming to dominate New England’s groundfish fishery (which includes cod, hake, flounder and other white fish) before a 2017 court decision sent him to prison for nearly four years and forced him to sell off his fleet. The sale, completed during his prison sentence, would earn him another $100 million. It was a profitable end for a fishing empire built on seafood fraud, tax evasion and consolidation. So when the private equity-backed Blue Harvest Fisheries announced in 2020 that it was buying most of Rafael’s fleet and putting the boats back to work, some welcomed it as good news for the port of New Bedford, the hub of Cape Cod’s fishing industry. more, >>click to read<< 17:07
Fishermen gather in D.C. to press Congress for ‘catch share’ changes
fishermen from each corner of the country descended on the nations capital last week banding together to confront what they describe as a predatory regulatory system that treats fishing rights “like stocks on Wall Street.” The group of more than a dozen fishermen make up a loose organization known as the Catch Share Reform Coalition. They presented a proposal to several U.S. senators, members of Congress and the head of NOAA Fisheries to rework regulations that they say have enabled investors to amass large amounts of fishing permits, cornering parts of the industry at the expense of local fishermen. Members of the group each fish out of different ports, using different types of gear and fishing for different species. But they said they are all united in their goal to keep fishing rights in the hands of local fishermen. >click to read< 07:06
Corporate interests endanger independent fishermen
To the editor: The recent purchase of fishing rights in Maine by New York-based equity firm Bregal Partners is a troubling development for fishing communities throughout New England. For years, fishermen have warned that catch share policies would strip access from independent fishermen and hand it over to outside investors, bringing great social, economic and environmental consequences. This recent acquisition is evidence that the warnings need to be heeded. By Jennifer Obadia >click to read<13:16
