The Winding Glass: What the Decline of Red Lobster Means for the U.S. Seafood Industry

The possible bankruptcy of Red Lobster is a watershed moment for the seafood industry.

Last month Bloomberg reported that Red Lobster may file for bankruptcy. This follows the announcement in January that Thai Union was ending its losing investment in Red Lobster and taking a $530 million write down.

A Red Lobster bankruptcy and restructuring would be a watershed event. Red Lobster used to be a colossus. During its heyday of rapid expansion and increasing sales in...

PODCAST: USDA's Open Purchase Request for Alaska Pollock; Red Lobster's Fate and More

Seafoodnews Podcast hosts Amanda Buckle and Lorin Castiglione are reunited and it feels so good! Listen in as Amanda and Lorin talk about some of the biggest stories of the week, from USDA open purchase requests for pollock and more, to an update on the fate of Red Lobster.

Plus, Amanda reveals that she's returning to the stage as MC for the annual Genuine Alaska Pollock Producers meeting... and Lorin volunteers to wear the Dutch mascot costume!

ANALYSIS: Strong Demand and Sporadic Landings Lead to High Prices to Start the Spring King Season

Spring troll season for king (Chinook) salmon is in full swing, with landings reported from various regions. However, the market is facing challenges in maintaining steady pricing and supply. Product is coming in from Neah Bay, the Columbia River, as well as the Coast of Oregon. Additionally Southeast Alaska and Yakutat recently commenced with landings for weeks 18 and 19 hovering around 400 fish each, according to Alaska Department of Fish and Game, as of...

USDA Grants Emergency Assistance To Louisiana’s Crawfish Aquaculture Industry

Louisiana’s crawfish aquaculture industry received a win this month when the United States Department of Agriculture (USDA) granted emergency assistance to the industry though the Emergency Livestock Assistance Program (ELAP).

Last year crawfish farmers suffered as a result of excessive heat, with Louisiana State University’s Agriculture Center estimating potential losses of nearly $140 million. Multiple state politicians have used their platforms to call on the USDA to help. And now, that help is coming through ELAP.

For those unfamiliar with ELAP, the program provides financial assistance to...

Russia Plans to Increase its Pollock and Crab Supplies to South Korea in Years to Come

Russia plans to increase its pollock supplies to South Korea in years to come and to make this country one of the largest consumers of Russian pollock.

So far, most of South Korea's pollock needs have been met by the supplies from Japan. However, due to discharge of water contaminated with radioactive substances from the Fukushima-1 nuclear power plant, the volume of such supplies have significantly declined. As an alternative, imports of chilled pollock from the Russian Federation to the...

NTSB Determines Cause Behind $56.6 Million Total Loss of Trident’s F/V Kodiak Enterprise 

The National Transportation Safety Board (NTSB) revealed its findings after investigating an April 2023 fire that occurred on board the F/V Kodiak Enterprise, a 276 ft. vessel that is a part of Trident’s catcher/ processor fleet. According to the government agency, investigators were unable to “definitively” determine the cause of the fire due to the extensive damage. However, they were able to determine why the fire resulted in a total loss of the vessel, worth an estimated...

2024 Snow Crab Landings Update For NL, Gulf and Maritimes Region As of May 10

Snow crab harvesters in the Gulf of St. Lawrence are close to landing the full quota for 2024. According to the latest landings data from the Department of Fisheries and Oceans (DFO), 82.78% of the total allowable catch (TAC) in Area 12 has been landed as of May 10.

The 2024 quota for Area 12 — including traditional fleet (01), First Nations (02) and New Access (03) — was set at 22,236.416 t and revised to 21,756.074 t. The season opened April 1 and...

FFAW, ASP Come To Agreement On 2024 Cod Prices

The Fish, Food and Allied Workers (FFAW) Union and the Association of Seafood Producers  (ASP) were able to come to an agreement this week on 2024 cod prices. FFAW revealed that the schedule will remain the same as 2023, with harvesters receiving a 5% increase in price from last year.

The screenshot below explains the prices at the start and end of the season per grade. “Fall” prices begin August 1, 2024.

FFAW says that the 5% increase from last year is...

ANALYSIS: Chilean Salmon Fillet Imports Through First Quarter Down 5.9 Percent

The farmed salmon market saw imports of fresh fillets through the first quarter of the year fall behind 2023. Year-to-date levels are trailing 2023 by 4.2 percent. Out of Chile, the leader in the category with a 73 percent market share, imports of fresh fillets are down 5.9 percent YTD. Imports out of Norway, on the other hand, are up 11.4 percent through March 2024 as compared to 2023. The Netherlands, another European producing country that processes, are also...

Mowi Acknowledges “Biologically Challenging” Q1 in Norway

Mowi released its Q1 2024 results this week, reporting revenues of 1.33 billion euros in the first quarter, compared to 1.36 billion euros in Q1 2023. Mowi CEO Ivan Vindheim chalked up the decrease in revenue to “challenges” related to a cold winter, winter sores and an “unusually high prevalence of string jellyfish."

“Consequently, I am pleased to see the situation in Norway has improved considerably in the second quarter,” said Vindheim. “We are now vaccinating our smolt with an improved winter sore vaccine which has...

Oregon Department of Fish and Wildlife Gets New Director After Curt Melcher's Retirement

The Oregon Fish and Wildlife Commission on Friday selected an agency veteran to lead the Oregon Department of Fish and Wildlife into the future.

The Commission voted unanimously to select Dr. Debbie Colbert as the new ODFW Director.

Colbert is the first woman to ever be appointed to the permanent ODFW Director position in the agency’s long history. The first state Fish Commission was legally recognized in 1887 and a combined fish and game agency has existed in Oregon since 1893.

Colbert will now lead ...

NOAA Fisheries Selects 14 Sea Scallop Applications Through 2024 RSA Program

NOAA Fisheries announced earlier this month that it has selected 14 sea scallop applications through the 2024 Research Set-Aside (RSA) programs.

Scallop RSA programs support research into industry-based surveys of access areas; sea scallop biology; loggerhead turtle population information and bycatch avoidance; and general research on sea scallop recruitment, bycatch and commercial dredge gear. These types of RSA programs are unique to federal fisheries in the Greater Atlantic Region, and are not only in place for scallops, but also monkfish and Atlantic herring...

Nordic Aqua Partners Reaches Total Harvest Volume of 92 Tonnes At China Farm

Nordic Aqua Partners confirmed last week that it has reached a total harvest volume of 92 tonnes at its fish farm in Gaotang, China.

The salmon farming company began production of fresh salmon in March 2022. Since then the company has welcomed former Mowi executive Ragnar Joensen as their new Chief Executive Officer, as well as new directors to their board and a new CFO. Earlier this year the company provided a 2024 outlook, revealing that they planned to have their first harvest in...

DOL Proposes Removal of Thailand Shrimp From List of Products Produced by Forced Child Labor

A notice published in the Federal Register Friday by the Department of Labor (DOL) proposes a revisement to the Executive Order on Prohibition of Acquisition of Products Produced by Forced or Indentured Child Labor. The Executive Order identifies a list of products, by their country of origin, that the DOL has “reasonable basis to believe might have been mined, produced, or manufactured by forced or indentured child labor.” According to this new notice, the DOL is proposing to remove shrimp from Thailand from...

Norway Food Safety Authority Confirms ISA At Sjøtroll Havbruk 

The Norwegian Food Safety Authority confirmed earlier this week that Sjøtroll Havbruk AS is facing an infectious salmon anemia (ISA) outbreak at its facility in Sveio municipality in Vestland county.

Sjøtroll Havbruk first notified the Norwegian Food Safety Authority of a possible finding compatible with ISA on April 25. Samples were conducted by the agency a few days later, and by May 8 the Food Safety Authority was able to confirm that the disease was indeed present at the fish farm.

Sjøtroll Havbruk, which is...

VIDEO: FDA Flags Contaminated Shrimp; Red Lobster Sale Update; Mother's Day Celebrations

Seafoodnews Weekly Video host Amanada Buckle is joined by Urner Barry Seafood Market Reporter Josh Bickert to break down some of the biggest stories of the week, including the FDA flagging contaminated shrimp; an update on the sale of Red Lobster; and Mother’s Day celebrations.

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ANALYSIS: The 2023-2024 C&SA Mahi Season Update

The 2023-2024 mahi fishing season in C&SA stands out from prior years for several reasons. Foremost among them was the significant speculation surrounding the potential occurrence of an El Niño event, which could impact water temperatures, fishing yields, and even signal a shortage in inventory. However, what truly marked this season was the absence of U.S. buyers eagerly awaiting to bid on products just landed. Typically, when boats return to port there is quite a bit of bidding from processing plants...