Newfoundland's Seafood Processors Say Rebirth of Modern, Commercial Cod Market Will Take Time  Clearwater and Icewater Seafoods each say Newfoundland's cod industry is still years away from establishing a viable cod market similiar to the 1980s. Right now, DFO surveys estimate Newfoundland's cod stock at around 538,000 metric tons, which is the highest level since 1992 but still well below levels needed for a commercial industry. But even if Newfoundland gets back to commercial cod harvesting, it will take awhile before Newfoundland cod can crack back into the global cod market share. "We are thinking about going back to the cod fishery that existed in the 1980s, and the market doesn't want that cod fishery," John Risley, a director of Clearwater Seafoods. "Newfoundland is not ready for it. The industry has changed dramatically." A handful of Maine politicians and industry representatives gathered this past Friday at the Maine State Pier to highlight their efforts to keep live Maine lobsters heading to the European Union and to underscore the potential economic impacts on Maine if Sweden's proposed ban is approved. The group called on Italy, Spain and France to lobby against the proposed ban since the three countries account for 85 percent of the EU's $137.3 million live New England lobster import market. “Our best allies are our customers,” said Annie Tselikis, executive director of the Maine Lobster Dealers Association. “Science should win this battle for us, but we’re not taking any chances because Europe is a huge market for live Maine lobster. So we’re working with our embassies abroad to pressure our major buyers of live lobster to speak up. In other news, Korean Air is seeking alternative plans to the save near-bankrupt Hanjin Shipping line after its Board rejected a plan to inject $60 billion won ($53.7 million) of capital into the ailing shipper. Korean Air, the largest single shareholder of the Hanjin Group, had its Board initially agree to draw up a cash injection using loans secured through terminal collateral. But the Board reversed the plan after members questioned if it could be subject to breach of trust and because the nature of the plan was unrealistic. Meanwhile, nearly one-third of Hanjin's container ships that have been waiting to dock around the world have unloaded their cargo. But another 34 of its ships are still stranded at sea, while another 35 were headed back to South Korea. Hanjin did not say whether the 35 ships had unloaded their cargo, or were returning with undelivered loads. Meanwhile, Cooke Aquaculture has received $3.2 million in federal funding to develop a process to remove sea lice from farmed salmon. Officials say the new process will reduce sea lice-related losses and provide a green alternative to managing sea lice outbreaks. Cooke estimates sea lice infestation in New Brunswick and Newfoundland and Labrador alone have cost the industry more than $75 million over the last five years. Finally, Japan's salmon catch in eastern Hokkaido was nearly cut in half because of massive flooding caused by a series of heavy rainstorms in August and September. The floods are also adversely impacting salmon hatching projects in the region. Hatchery operators are seriously worried about whether they can secure sufficient numbers of parent fish that spawn juveniles to be released next spring. "The water level of the river did not go down after heavy rains continued from about Bon festival in the middle of August, and we have difficulty in removing driftwood from the stockades," said an executive from the Salmon Propagation Association in Shibetsu Town. Remember to check out our weekly video news roundups by clicking on the embedded video box in the daily newsletter or by visiting our homepage. You can also listen to the news recap through our new podcast channels available on iTunes, Google Play and SoundCloud.