Red Lobster Abruptly Closes 48 Restaurants, As Revealed By Equipment Liquidation Company 

In a surprising twist of events, 48 Red Lobster restaurants have closed — some reportedly without notice to their employees.

Red Lobster’s financial woes have been well documented over the recent months. But this week a facility and equipment liquidation company called TAGeX shocked everyone when it revealed that select Red Lobster locations have closed and that they are auctioning off the entire contents of these restaurants. 

TAGeX has a total of 48 Red Lobster locations listed on their website, but text on the page also states they are “auctioning off 50+ locations across the country.”

First Temporary Grid Closures Announced in Gulf of St. Lawrence Following Sighting of Entangled NARW

Fisheries and Oceans Canada (DFO) released its first temporary prohibited grid closures on Monday, days after an entangled North Atlantic right whale (NARW) was spotted in the Gulf of St. Lawrence.

The entangled NARW, identified as an adult female named Shelagh, was spotted via routine aerial surveillance on Friday. The DFO said at the time that its marine mammal response program was monitoring the situation in an effort to “determine response options with our partners.”

“If the whale is located again, and weather and...

Legislative Task Force Created to Evaluate Alaska's Seafood Industry

On Sunday the Alaska Legislature signed off on a resolution to create a task force for the next 9 months that will, in partnership with the industry, find solutions to the problems faced by the state’s commercial fishing industry.

Only one state legislator voted against the legislation in the House; the Senate approved it unanimously. 

The resolution will be sent to Governor Mike Dunleavy for his signature this week. Unless Dunleavy calls a special session, the Alaska Legislature will adjourn the session this Wednesday, May 15. 

“The depth of the crisis ...

Atlantic Sapphire Appoints Former Cermaq Chile Managing Director as New CEO

Atlantic Sapphire has found its new CEO in Pedro Courard, a former Managing Director of Cermaq Chile. Courard is set to replace founder Johan Andreassen, who had informed the Board of Directors in October 2023 of his decision to step down as CEO. 

Courard spent the past four years at Cermaq Chile, joining the company in August 2019 as Director of Production before getting promoted in March 2022 to Managing Director. Prior to joining Cermaq Chile, he held positions with Multi X and Ocea Chile (Scale)...

Japan’s Consumer Food Price Index: Seafood Prices Soar By 25.7% in 2023

Sony Assurance Inc. has recently conducted a comprehensive review of the price increases across various sectors and items, with a particular focus on the Consumer Price Index published by Japan's Ministry of Internal Affairs and Communications. Notably, the food sector experienced a substantial price surge, with seafood prices in 2023 soaring by 25.7% compared to 2020. This increase surpassed even the 25.3% hike in fire insurance prices, as reported by Minato Shimbun.

According to the "2020  Base Consumer Price Index Nationwide 2023 Average" released...

Trader Joe’s Introduces 3 New Seafood Products, Including RTE Salmon Item

Trader Joe’s is constantly introducing new items to their shelves. And this month, three of their new products just so happen to be seafood-related.

The grocer’s refrigerated section has plenty of ready-to-eat (RTE) options, and the latest addition to that lineup involves salmon. Trader Joe’s is encouraging customers to “shake up” a classic with their new Caesar Salad with Salmon. This RTE offering features romaine lettuce and kale blend with grilled salmon, parmesan crisps and romano Caesar dressing...

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!

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.

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...

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...

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...

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...