Cozy Harbor, a Maine Lobster Staple, Files for Chapter 11 Bankruptcy

Cozy Harbor Seafood, a staple processor in the Maine lobster industry, along with its companies Art’s Lobster Co. and Casco Bay Lobster, filed for Chapter 11 bankruptcy on July 1.

The bankruptcy declaration filed by Cozy Harbor’s owner, John Norton, said the decision stems from “the price of seafood that it purchases for processing” coming out of the pandemic, along with tariff uncertainty.

“Premised on price instability arising first out of the COVID pandemic and then out of uncertainty due to tariff threats, the Debtors have had trouble operating within...

Trump Announces US Trade Deal With Vietnam, Including 20% Import Tariff

President Trump announced that the United States has agreed to a new trade deal with Vietnam on July 2.

Trump stated that Vietnam will pay the US a 20% tariff on all goods exported to the U.S. and a 40% tariff on transshipped goods. The higher 40% tariff targets products that are not originally made in Vietnam but are routed through the country to bypass higher tariffs. This move is significant, as many countries have used Vietnam as a transit point to avoid stricter trade penalties aimed at Chinese...

ANALYSIS: Canada's Declining Share in European Live Lobster Market Despite CETA

Between January and April, the EU and UK imported a total of 1,378 metric tons of live red lobster (Homarus americanus) from two main sources: 791 MT from Canada (57%) and 587 MT from the United States (43%). This marks the highest U.S. share since the implementation of the CETA free trade agreement between Canada and the EU, which came into force in September 2017...

Federal Judge Dismisses UCIDA's Claim that NMFS Violated Laws While Managing Cook Inlet Salmon 

The United Cook Inlet Driftnetters Association lost its latest legal effort to correct management issues impacting sockeye salmon in the Cook Inlet Exclusive Economic Zone (EEZ) with a decision on Monday to dismiss all charges with prejudice.  

That decision does not mean that UCIDA cannot appeal Federal Judge Sharon Gleason’s 32-page ruling.  

The Cook Inlet salmon fishery is managed as a mixed stock fishery. In this case, sustainable stocks of returning sockeye, bound for their spawning grounds in the Kenai and Kasilov Rivers, are...

Ecuador Establishes New Union Representing Nation’s Fishing and Aquaculture Sector

At this year’s South Pacific Expopesca—which was held in Guayaquil, Ecuador, from June 18-20—key stakeholders representing Ecuador’s fishing and aquaculture sector came together to sign a commitment act establishing the Unión de Pescadores y Acuicultores del Ecuador, a non-profit, nationwide civil corporation open to all formally operating stakeholders within Ecuador’s fish sector.

The result was Ecuador’s new fish union, which will focus on strengthening representation within the country’s fishing and aquaculture sector while advancing sustainability and staying grounded in principles of sustainability and legality...

Phillips Foods Opens Sales Office in Japan to Expand Crab Meat Sales 

Phillips Foods, a major crab and lobster processor based in Maryland, has opened a representative office in Tokyo. The company will promote products such as blue swimming crab meat and crab cakes to mass retailers and food services in Japan.  

Founded in 1914, Phillips Foods operates aquaculture and processing facilities in Southeast Asia and Canada. They handle various crab species, including snow crab, king crab, and blue swimming crab, along with lobster and barramundi. The company also produces processed items such...

New Report Shows 21% of Consumers Chose Delivery over Dine-in in 2024

According to a new report published by data analytics company Euromonitor International, delivery is occupying a larger share of the consumer foodservice market, overtaking eat-in dining and making up 21% of the total global market share in 2024, a 9% increase from 2019.

Euromonitor’s report, entitled “World Market for Consumer Foodservice 2025,” highlights the robust growth coming out of the Asia Pacific region, for which 40% of global foodservice sales are attributed and a 6% Compound Annual Growth Rate (CAGR) is forecast for 2029...

Turning Emissions into Nutrition: Norwegian Project Converts CO₂ into Salmon Feed    

A collaborative research project in Norway is testing out a new way to produce salmon feed.  

Nofima, SINTEF, and the Arctic University of Norway (UiT) have partnered with ferrosilicon producer Finnfjord on a project called AlgOpti. Together, they are converting carbon dioxide (CO₂) emissions from the ferrosilicon industry into microalgae for use in salmon feed. 

At Finnfjord’s facility in Norway, cultivation tanks transform CO₂ into algae biomass, which serves as a nutrient-rich feed ingredient. This biomass is then processed into salmon feed with...

Alltech Increases Stake to Become Majority Owner of Alltech Fennoaqua

Alltech has acquired Finnforel’s share in Alltech Fennoaqua Oy, making Alltech the majority stakeholder.

Alltech Fennoaqua is Finland’s sole fish feed production facility. The company specializes in sustainable feed solutions, particularly designed for cold-water aquaculture operations.

"Aquaculture is one of the world’s fastest-growing sources of protein – and it is a focus area for us,” said Dr. Mark Lyons, president and CEO of Alltech. “As majority owner of Alltech Fennoaqua, we are deepening our commitment to delivering smarter, more sustainable solutions for aquaculture systems...

Expana and Gluna Shrimp Announce Exclusive Data Partnership Covering Ecuadorian Shrimp Markets

Expana, the world’s largest agrifood price and market intelligence provider, has entered into an exclusive partnership with Gluna Shrimp to expand its coverage of shrimp pricing data at Ecuadorian origin. 

Expana, the parent company of market information providers Urner Barry, Feedinfo and Mintec, will gain exclusive global rights to distribute and integrate Gluna Shrimp’s Ecuadorian farmgate and export price data into its platform. This collaboration brings over 40 new upstream price assessments and two monthly reports to the Expana platform, providing a comprehensive view...

Bristol Bay Salmon Run Timing And Size Currently Mimics That of Two Years Ago

The world’s largest wild salmon run, which began June 1 and will peak in the next week or two, has now landed 10 million sockeye salmon and is following closely in timing and landings with its near-record 2023 annual catch of 38 million sockeyes. That year, the state’s forecasted harvest was only 37 million sockeye.  

This year, the forecasted harvest total is 34.84 million sockeye from the five-river systems of Bristol Bay.  

As of June 29, landings in Egegik District have reached 1.8 million...

Rodger May, Former Peter Pan Seafoods Chief, Wins Final Court Battle For Assets 

After a highly contested receivers’ auction outcome earlier this year for the remaining assets of bankrupt Peter Pan Seafoods, a final courtroom decision was handed down last Friday confirming that all of the iconic processors’ intellectual property, including the names and logo, will go to former CEO Rodger May. 

May made headlines when he bought Peter Pan from long-time owner Maruha-Nichiro in December 2021. The new operation did well for a few years, but by 2024 was in receivership. Silver Bay Seafoods had...

Russia Sees Surge in Squid and Seafood Production Amid Rising Domestic Demand 

As domestic demand continues to surge, Russia is expecting a significant increase in the catch of squid and other seafood over the coming years.  

According to data from Alexander Panin, Chairman of the Russian Fish Union, Russian fishermen caught over 110,000 metric tons of Far Eastern squid in 2024 — an increase of 27% compared to the same period in 2023, and a 66% jump from 2022. 

This spike comes despite earlier predictions that purchasing power would decline due to international sanctions stemming from...

Japanese Company Becomes World’s First BAP-Certified Oyster Producer

Yesterday, the Global Seafood Alliance (GSA) announced that Japanese oyster producer Harimanada Co., Ltd. (HCL) became the world’s first BAP-certified (Best Aquaculture Practices) oyster producer in Japan with the certification of its processing plant.

“Attaining BAP certification for the first time in the oyster industry in Japan is a significant milestone for our company,” commented HCL President and CEO Hiroyasu Nagara.

“Building on our ISO 22000 certification and government designation as a flagship production area, we’re expanding globally to deliver responsible, delicious oysters to Southeast Asia, the Middle East and..."

Nova Scotia: 22 Seafood Companies Receive $1.75 Million in Climate Change Funding 

The Government of Canada has announced that 22 seafood companies and organizations in Nova Scotia will receive $1.73 million in climate change funding through the Fisheries and Aquaculture Energy Efficiency Innovation Fund.  

The three-year-fund, administered by Efficiency One Nova Scotia, is designed to help chart a path for the commercial fisheries and aquaculture sectors to reduce climate change impacts in the province to at least 53% below 2005 levels by 2030.  

Ranging from installing solar systems to implementing...

ANALYSIS: Argentine Red Shrimp Exports Plummet Amid Ongoing Industrial Disruptions

The latest data from Argentina’s National Institute of Statistics and Census show a sharp decline in red shrimp exports for May, totaling just 4,939 metric tons (MT). This marks a 33.7% decrease year-on-year and a steep 47.3% drop compared to April...

High Liner Finalizes Acquisition of Conagra Seafood Brands for $12.6M Less Than Initial Agreement

In a press release published today by High Liner Foods, the frozen seafood processor officially completed its acquisition of Conagra Brands subsidiaries Mrs. Paul's and Van de Kamp's for USD $42.4 million, $12.6 million less than the initial $55 million disclosed earlier this month.

The adjusted price accounts for an estimated $23.8 million of inventory that was acquired as part of the closing transaction. This differs from the normalized target of $36 million, which was previously laid out in the...

DOC Announces 2025 Appointments to the Regional Fishery Management Councils

The US Department of Commerce (DOC) announced the appointment of 20 new and returning members to the eight regional fishery management councils on June 30.

Council members represented stakeholders, including commercial and recreational fishing industries, environmental organizations, and academia, along with state and federal agencies. The National Oceanic and Atmospheric Administration (NOAA) explained that councils are vital to “fulfilling the Magnuson-Stevens Act’s requirements to end overfishing, rebuild fish stocks, and manage them sustainably.”

The Secretary of Commerce appoints roughly one-third of the total 72 appointed members...

Rabobank Sees Pressure from Tariffs and Trade Shifts: Shrimp, Salmon Sectors Brace for Impact

A new report from Rabobank highlights how affordability challenges and shifting trade dynamics are transforming global seafood markets in 2025.

The price point of seafood is a key factor influencing demand. In the second half of the year, the Trump administration’s tariffs could pose a significant challenge to consumer affordability, as costs are passed on. Meanwhile, Rabobank expects demand to improve in China due to stimulus packages. Lastly, Europe is expected to be a strong market as exporters shift trade from the US and China amid...

Russia Struggles to Boost Domestic Deep-Sea Crab Catch 

Russia’s deep sea crab catch remains low, despite efforts by the Federal Agency for Fisheries (Rosrybolovstvo) to boost activity through quota auctions. 

After a failed attempt last month, Rosrybolovstvo tried once more to auction quotas for catching deep-sea crabs — specifically angulatus snow crab in the North-Okhotsk and East Sakhalin subzones, and red snow crab in the Primorye and West Sakhalin subzones. The starting price for the quotas exceeded 1.051 billion rubles.  

As part of the auction terms, investors were required to build fishing vessels at Russian shipyards...

Navigating the Trump Tariff Turbulence: A Comprehensive Timeline

US President Donald Trump and his administration have paused reciprocal tariffs on most countries.

“Based on the lack of respect that China has shown... I am hereby raising the [tariff] charged to China by the [USA] to 125%, effective immediately,” wrote Trump on Truth Social at 1:18 pm ET. 

It’s not clear if this 125% is in addition to the 20% imposed on Chinese imports to the US. In early March, Trump noted that he would add another 10% tariff on Chinese goods...

Conxemar and ABANCA Renew Collaboration Ahead of International Frozen Seafood Fair in Spain 

Conxemar, the Spanish Association of Seafood Wholesalers, Importers, Exporters, and Processors is once again collaborating with ABANCA to address challenges facing the frozen seafood sector.  

This is part of Conxemar’s 26th International Frozen Seafood Fair in Spain, aimed at promoting sustainability, improving energy efficiency, and boosting fleet modernization. 

The collaboration seeks to strengthen the future of the seafood sector for the Galician and Spanish economies.  

The International Frozen Seafood Show brings together seafood wholesalers, importers, exporters, processors, manufacturers, distributors, and machinery and...

ANALYSIS: Frozen Haddock Market Sees Unprecedented Price Growth

The conclusion of Q3 2024 signaled the onset of a new pricing trajectory within the frozen haddock market. Prior to this shift, wholesale prices for haddock had exhibited minimal volatility, remaining largely stable through the earlier part of the year. However, beginning in September 2024, prices strengthened significantly and have remained at elevated levels since then. This inflection point coincided with emerging reports of reduced haddock availability from the Barents Sea, contributing to a broader global supply contraction amid sustained demand. Compounding these supply-side pressures, the...

Pacific Seafood Going Big on Alaska

Pacific Seafood Group is expanding its reach beyond the West Coast to Alaska through acquisitions and memberships.  

In 2024, Pacific purchased Kodiak processing facilities from Trident Seafoods, including the Star of Kodiak, a converted war-time ship that processes a number of species like pollock, salmon, halibut, crab, groundfish and Pacific cod. The purchases contribute to the company’s Mission 31, a strategic initiative aimed at doubling the size of its business by 2031. 

Now, Pacific has joined the Pacific Seafood Processors Association, a seafood processing trade group founded in 1914...

Mowi Appoints Tomasz Trela as New Sales Director Central Europe

Effective today, Tomasz Trela has stepped into the role of Sales Director Central Europe at Mowi, overseeing business for the seafood giant in the central European region.

The appointment was announced by Trela four days ago in a LinkedIn post and follows Trela’s return to Mowi several months prior.

The update also comes after Mowi’s acquisition of a controlling stake of Nova Sea earlier this year, which increased Mowi’s ownership in Nova Sea from 49% to 95%.

The region for which Trela is now responsible spans Scandinavia, the DACH region...

Japan's May Fishery Exports Increased 1% in Volume and 6% in Value

According to trade statistics released by the Ministry of Finance, Japan's May fisheries exports (including fish and shellfish, preparations thereof, fishmeal, and fish oil) increased 1% in volume year-on-year (YOY), amounting to 43,731 tons, while also increasing 6% in value YOY, amounting to JPY 23.746 billion ($163.85 million).

According to reporting by Japanese news outlet Minato Shimbun, scallop exports saw a 27% decrease in volume and a 23% increase in value. While frozen shelled scallops showed growth in both volume and value, scallops in the...

Atlantic Sapphire Showcases Bluehouse Salmon at Summer Fancy Food Show

Atlantic Sapphire debuted its Bluehouse Salmon at the Specialty Food Associations (SFA) Summer Fancy Food Show. 

The Florida-based aquaculture company says it raises its salmon in a land-based, controlled environment without hormones, antibiotics, GMO’s, or chemicals. 

“We believe that today’s buyers and culinary leaders are looking for products that not only deliver exceptional quality and taste but also align with evolving consumer values,” said Damien Claire, Chief Sales and Marketing Officer of Atlantic Sapphire. “Bluehouse Salmon is our answer — a responsibly raised, premium seafood solution...

ANALYSIS: India’s Shrimp Exports Continue Upward Trend Despite Market Shifts

According to the latest data from India’s Directorate General of Commercial Intelligence and Statistics, shrimp exports from India have continued their year-over-year growth for the fifth consecutive year, based on figures from January to April. Export volumes reached 224,723 metric tons during this period — an increase of 7.8% compared to the same timeframe in 2024.

Since the onset of the COVID-19 pandemic in 2020, India’s shrimp exports have shown a consistent upward trend. In 2021, export volumes surged by 25.1% as global markets rebounded...

Trump, Carney Agree to Resume US-Canada Trade Negotiations

Trade discussions between the United States and Canada resumed late Sunday after Canada announced it would withdraw its proposed digital services tax targeting major US technology firms.

On June 27, President Trump stated that due to Canada’s intention to impose a tax on US tech firms, the US would halt all trade discussions with its northern neighbor “effective immediately.”

The tax was to take effect on Monday, June 30. According to the New York Times, the 3% digital services tax on major US tech firms like Meta, Amazon and...

NOAA Fisheries Opens 15-Day Comment Period on New, Higher Atlantic Herring Catches For 2025-27 

After dramatically dropping 2025 catch limits for Atlantic herring earlier this year, the New England Fisheries Management Council (NEFMC) has reversed its decision and increased those limits by nearly 70%. The new data considered by the panel and its scientific advisors included low catch results in 2024, a March peer review of the 2025 herring research track stock, and an updated population report from a Council subcommittee. 

The results mean that total annual catch limits for Atlantic herring jumped from...