Tag Archives: lobster fishing business

Maine Lobstermen speak out about economic and regulatory struggles

“We get told what we’re going to get paid for the product, and we get told what we’re going to be charged for the bait. We’re the ones providing, and it seems as though we’re also getting the short end of the stick,” said commercial lobsterman Dwight Staples. With rising inflation, fisherman say they’ve been hit hard. “For me personally, it was like $800 a day just to go fishing — and that was on like a three dollar lobster. So you’ve got to go, and you’ve got to catch over 250 pounds before you even break expense,” said Staples. In addition to the rising costs of running a lobster fishing business, lobstermen say that fishing regulations have made it more difficult to turn a profit, even when reeling in a good haul.  Video, >click to read< 09:07

Some buyers shelling out more than $1M for lobster boat, license

The purchase price of lobster fishing fleets is hitting new highs, according to a P.E.I. broker — in some cases people are paying more than $1 million to get into the lobster fishing business. “I’ve never seen them this high before,” said broker Mark Hackett of Tignish, P.E.I. “A million plus.” The high value of lobster landings, combined with large catch sizes in recent years, are driving up fleet prices, according to Hackett. >click to read< 13:35