Tag Archives: Peter Pan Seafood Co.
For more than a century, a fish plant fueled King Cove’s economy. Without it, can the community survive?
Five months ago, King Cove Mayor Warren Wilson wrote an opinion piece in the Anchorage Daily News. The headline was stark: Fighting For Our Lives in King Cove. Peter Pan Seafood Co., the owner of a plant that had served as the economic engine of the Southwest Alaska town of about 800 for more than a century, had just announced it would cease operations. “As King Cove’s mayor,” he wrote at the time, “it hurts my heart to say that it has taken only a few short months for me to no longer recognize my world. Events have conspired to threaten our very existence.” The seafood industry around the world has been devastated by low fish prices, high interest rates, oversupply in some markets and poor fish returns in others. In Alaska, according to a recent report from NOAA Fisheries, profits fell by half between 2021 and 2023. Few Alaska communities have felt the pain of the seafood industry crisis more than King Cove. With the plant’s owner out of business, residents are left to wonder if their community has a future. more, >>CLICK TO READ<< 09:43
Keyport to take over crab quota after King Cove closure
Edmonds-based Keyport LLC, a processor and supplier of wholesale wild-caught crab and frozen seafood, announced today, Jan. 29, that it will take over the crab quota left stranded after Peter Pan Seafood Co. recently decided to close its King Cove Alaska processing facility for the season. The closure in the middle of the season has left numerous crab harvesters with no alternative for delivering their catch. According to Keyport, its move to secure the quota “sends a lifeline to the Alaska crab fisheries and brings a stabilizing force to an industry amid turbulence.” Keyport will manage the processing quota previously slated for King Cove for the Western Bering Sea Tanner crab fishery (WBT) and the Eastern Bering Sea Tanner crab fishery (EBT), expanding Keyport’s 2024 processing portfolio, which includes Alaska Red King crab, Golden King crab, and Bairdi. more, >>click to read<< 11:24
Peter Pan’s King Cove plant will stay closed this winter as fishing industry turmoil spreads
In a major hit to Southwest Alaska’s fishing industry, Peter Pan Seafood Co. will keep its huge plant in the village of King Cove shuttered this winter, meaning that the company won’t be processing millions of dollars’ worth of cod, whitefish and crab. “It’s one of the most difficult days of my life,” Rodger May, one of the company’s owners and a longtime player in the seafood industry, said in a brief interview Thursday. “It’s just a devastating time for the industry.” The closure is the latest sign of the widening turmoil in Alaska seafood markets, which are contending with depressed global demand across many different species and intense competition from producers in Russia. more, >>click to read<< 13:39
