Tag Archives: Unalaska and St. Paul
Massive losses predicted from Bering Sea crab closures
While other crab stocks have been declining in the North Pacific for years, the snow crab fishery’s collapse is doubly shocking for the industry. Not only is it one of the larger crab fisheries by volume in Alaska, it has also gone from booming and healthy to overfished and collapsing within five years, with little warning or clear explanation. Fishermen who made investments in permits and boats less than five years ago are now looking at bankruptcy. Alaska Bering Sea Crabbers, the trade organization representing the industry, has estimated the direct financial losses at about $500 million. Adding in the ripple effects to the economy, that estimate rises to about $1 billion. >click to read< 07:50
