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...

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...

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...

Congress Learns USCG Polar Icebreakers Are 5 Years Late and Will Cost More Than Double

Earlier this week, the House Homeland Security Transportation and Maritime Security, chaired by Rep. Carlos Gimenez (R-FLA), heard from the staff of Congress’ own budgeting, accountability, and research offices, that the three polar icebreakers the U.S. Coast Guard promised are now five years behind schedule and will cost $5.1 billion, more than twice the original estimate of less than $2 billion.

“The Coast Guard originally aimed to have the first PSC (polar security cutter) delivered in 2024, but the ship’s estimated...

FFAW Says Northern Shrimp Fishery Is “Delayed Without Cause”

Members of the Fish, Food and Allied Workers (FFAW) met with the DFO regional office this week to discuss issues surrounding the delayed opening of Shrimp Fishing Area (SFA) 6. While the DFO could not provide the union with a hard deadline, FFAW says that they “alluded to an end of May target.”

In March the Minister of Fisheries and Oceans announced an extension to complete the rebuilding plan for the stock in SFA 6. “The rebuilding plan development timeline for northern shrimp in SFA 6 was...

World's Largest Snow Crab Fishery Is Underway — Is The Market Ready For Higher Prices?

Federal Reserve Chair Jerome Powell has expressed that the current interest rates are restrictive which could potentially slow economic activity and aid in curbing inflation. Last week he suggested that a further rate increase is "unlikely," providing a positive jolt to the markets. However, Powell also stepped back from earlier indications of potential rate cuts, stating that the Fed needs to be assured that inflation is on a definite return to the target level. source: WSJ

In related economic trends, there are signs that...

Thai Union Confirms In Financial Results That They Expect Red Lobster Sale To Be Completed This Year

Thai Union has released its financial results for Q1 of 2024, for the three month period ending March 31, 2024. While the report is full of wins for the seafood giant —particularly in the PetCare side of its business—all eyes are on updates regarding Thai Union’s exit from Red Lobster.

As previously reported by Seafoodnews, the company made a decision to exit its minority investment in the seafood restaurant chain in the fourth quarter of 2023.

“The combination of...

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.

Subscribe to our YouTube channel. And don’t forget to head over to Seafoodnews.com or visit the Seafood tab in COMTELL for a comprehensive look at the latest market and industry news.

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...

Arctic Lady Enterprises Files Complaint Against Peter Pan Seafoods

Struggling Peter Pan Seafoods is taking yet another hit — this time from Arctic Lady Enterprises. Court documents released show that last month Arctic Lady Enterprises filed a complaint against Peter Pan in an Alaska court, alleging that they caught, delivered and sold seafood products to Peter Pan and never received payment.

Arctic Lady Enterprises, the owner of the F/V Arctic Lady, conducted fishing operations in Alaska, catching pollock and pacific cod for Peter Pan between January 4, 2023 and October 14, 2023. Payment to...

Japan: March Shrimp Imports Up 1% to 13,100 Tons, Increasing for the Third Consecutive Month

Japan’s Ministry of Finance recently announced that the amount of shrimp imported in March was 13,127 tons, an increase of 1.1% from last year. This is the third consecutive month of positive growth since January. The amount decreased by 2.5% to 17,983 million yen. Although there are signs of recovery in imports due to low inventories as a result of a decline in imports in 2023, a cautious stance continues as the yen weakens, reported Suisan Keizai Shimbun.

The "other frozen shrimp category," which...

Annual Shrimp Closure In Gulf of Mexico For Texas and Federal Waters Set For May 15

NOAA Fisheries has confirmed that the annual closing of the Gulf of Mexico commercial shrimp season off the Texas coast will take place on May 15. A closure is necessary in order for brown shrimp to reach a larger — and therefore more valuable — size.

“The goal of this closure is twofold,” commented Robin Riechers, the Coastal Fisheries Division Director for Texas Parks and Wildlife. “Allowing shrimp to migrate into Gulf waters gives them time to mature and grow before the...

The Retail Rundown: Showdown for Consumer Dollars this Mother's Day

Grocers and foodservice are preparing for a showdown with Mother's Day just a few days away. 

The upcoming holiday typically favors foodservice sales over retail as consumers celebrate their loved ones by visiting a dining establishment. According to the National Restaurant Association, 34% of consumers will dine out this Sunday, particularly during lunch and dinner. An additional 12% will order takeout or delivery.

However, retailers have a few tricks up their sleeves to get shoppers through the door by promoting deals on flowers, cards, gifts, and more. Grocers...