Deep Global Recession May Start in Spring 2025, Warns Expana

The global economy today shows some parallels to past pre-recession periods. A world PMI below 50, elevated asset prices, for instance, are indicators of a slowdown in business activity.  

Furthermore, rising tariffs, protectionist policies, or geopolitical disruptions could exacerbate trade slowdowns. Consumer spending is also paramount since it accounts for a significant portion of GDP. Monitoring retail sales, credit card usage, and savings rates will be critical.   

With the global economy facing a myriad of challenges and uncertainties, the likelihood of a recession...

ASP Drops Complaint Against Quin-Sea Fisheries in Snow Crab Dispute

In the latest twist in the Canadian snow crab saga, the Association of Seafood Producers (ASP) has dropped its complaint against Quin-Sea Fisheries, one of its member companies.

In October, the ASP, which represents seafood processors in Newfoundland and Labrador, filed an application to the province’s Labour Relations Board claiming that Royal Greenland-owned Quin-Sea Fisheries refused to hand over sales receipts that the ASP argued were required to pass along under the third-party review of 2024 snow crab sales...

Maersk Withdraws Transpacific Shipping Services from Alaska

Global shipping company Maersk recently announced its withdrawal of transpacific shipping services from Alaska.

Effective 2025, Maersk will suspend its Alaska market coverage within North America, removing terminals in Dutch Harbor and Kodiak from its transpacific network.

According to the Fisheries of the United States 2022 report, which was published by NOAA Fisheries in October 2024, Dutch Harbor was among the U.S.’s top ports in 2022 for volume and value, with a 20-year trend of large Alaska pollock landings...   

So Far ADF&G Sees “Excellent” Pink Salmon Run in Kodiak, AK Peninsula But “Average” in SE Alaska

Alaska’s Department of Fish and Game is busy this time of year getting forecasts out for 2025 salmon seasons across the state.

They have predicted another big year for sockeye salmon in Bristol Bay — 51.31 million sockeyes, which is nearly 3 million less than the University of Washington-Fisheries Research Institute’s (UW-FRI) forecast of 54.1 million sockeye there, and big runs for pinks in Kodiak and the Alaska Peninsula’s South Region, but only an average run of pinks in Southeast Alaska...

Russia's Fish Catch Holds Steady at 5 Million Tons Despite Salmon Shortfall

According to recent statements made by representatives of the Russian Federal Agency of Fisheries (Rosrybolovstvo), this year's fish catch in Russia will be comparable to the average of the last five years and amount to about 5 million tons.

As of the middle of December, a record catch of Iwashi sardine had been observed, exceeding 570,200 tons, the best figure for the entire post-Soviet period. In the Far Eastern basin, 1,88 million tons of pollock were also caught, 28.520...

Darden Restaurants Report Strong Q2 Results with 6.0% Sales Growth

Darden Restaurants reported a 6.0% increase in total sales for Q2 which ended November 24, reaching $2.9 billion, with same-restaurant sales up 2.4%.

Olive Garden generated $1.292 billion in sales, LongHorn Steakhouse brought in $710.1 million, and the company’s Fine Dining segment earned $306 million.

In addition, Darden’s Board of Directors declared a quarterly cash dividend of $1.40 per share on the company’s outstanding common stock.

"We had a strong quarter and I am pleased that our four largest brands...

Supreme Crab & Seafood Reveals New Signature Catch® Logo

Yesterday, seafood importer Supreme Crab & Seafood unveiled a new logo for its flagship Signature Catch® brand.

The updated design includes a modern gold palette set on a dark blue background and reflects the company’s dedication to providing its food service and retail customers with the “catch of a lifetime.”

Alyssa Chowdhury, Marketing Director at Supreme Crab & Seafood, explained the thought process behind the brand’s new image. She said, "At Supreme Crab & Seafood, Signature Catch® has become a trusted name synonymous with quality seafood. The refreshed logo celebrates..."

Congress Introduces NO SPILLS Act to Increase Accountability for Offshore Oil and Gas Port Licensing

On December 18, 2024, U.S. Representative Jared Huffman of California, U.S. Senator Edward Markey of Massachusetts, and U.S. Senator Jeff Merkley of Oregon introduced the Nautical Oversight Safety and Protection of Inflammable Liquids by Law in the Sea (NO SPILLS) Act.

The bill includes framework to strengthen the Maritime Administration’s (MARAD) license review and approval process for the construction or maintenance of deepwater ports for fossil fuel exports and imports. The bill was introduced as MARAD extended its consideration of offshore oil export facility Texas GulfLink...

North Atlantic Right Whales Found Entangled, Bringing Mortality Event Toll to 150

A pair of endangered North Atlantic right whales were found entangled by a NOAA Fisheries aerial survey roughly 50 miles southeast of Nantucket, Massachusetts, on December 9.

The first whale was identified as juvenile male #5110. NOAA Fisheries scientists preliminarily determined that #5110’s entanglement was a “serious injury” case. Signifying that it will likely die from the injury. #5119 has a thick line that passes once across his head and once across his back. This whale was first spotted as a calf in 2021 and was...

FDA Updates “Healthy” Food Definition for US Food Products

Officials from the FDA updated the organization’s definition of the word “healthy,” according to an FDA constituent update. 

A food product’s packaging can bear the word “healthy” if the food adheres to specified limits for saturated fats, sodium, and added sugars. Additionally, “healthy” food contains “at least one of the food groups or subgroups (such as fruits, vegetables, fat-free and low-fat dairy, etc.) recommended by the Dietary Guidelines,” according to the FDA’s new definition. 

For example, a “healthy” grain product should not contain more than 5% saturated fat...

SeaD Consulting Finds 30% of Shrimp Dishes Misrepresented in Baton Rouge Restaurants

Earlier this month, SeaD Consulting unveiled findings from its investigation into the mislabeling and misrepresenting of shrimp served at Mississippi restaurants. Now, the group is back after its first investigation into eateries in another state in the Gulf region.

This time, the firm focused on monitoring seafood mislabeling via genetic testing and had Louisiana restaurants in its sights. 

SeaD said that following sampling menu items at 24 restaurants across Baton Rouge, LA, 30% of the dishes sampled were misrepresented. Seven of the 24 randomly selected restaurants were misleading...

China Lifts Four-Year Ban on Australian Live Rock Lobster Trade, Boosting Industry

China notified Australia on December 20 that the live rock lobster trade between the two nations can resume after a four-year import ban, per Australian Prime Minister Anthony Albanese. 

In October, Albanese announced that trade between the two nations would resume before the year ended.  

“This is a major win for our hard-hit live rock lobster industry and follows sustained engagement and advocacy by government and industry. We thank the Australian live rock lobster industry for its patience and resilience as we worked to reinstate...

Japan: October Sockeye Imports Fall 32%

According to trade statistics from the Ministry of Finance, total salmon and trout imports in October (including salted, smoked, and prepared products) increased 3% year-on-year to 19,435 tons, and the CIF import value increased 2% to 24,443 million yen ($155.19 million). Fillets (fresh, frozen, salted, and dried) increased 5% to 5,954 tons; other than fillets increased 2% to 13,482 tons, reported Minato Shimbun.

Frozen sockeye and coho salmon, other than fillets, decreased by 32% to 2,407 tons and 3% to 6,778 tons.

Other frozen Pacific salmon...

Square and Sysco Forge New Partnership

On December 18, 2024, business technology company Square announced its new partnership with global foodservice distributor Sysco.

Square provides businesses with mobile payment processing technology. Customers range from restaurants to retailers. In 2022, Square was voted Adweek’s best POS system.

Sysco sells, markets, and distributes food and non-food products to customers worldwide, including restaurants, healthcare and educational facilities, and lodging establishments.

As part of the partnership, customers already utilizing Square’s business technology platform can enroll through Sysco and receive a rebate for Sysco’s processing fee as well as hardware credits...

Potential Impact of a Government Shutdown on USDA Reports

With a potential government shutdown looming, U.S. Department of Agriculture (USDA) data on livestock and meat markets, along with numerous other reports and statistics, may become unavailable until further notice.

As Congress races to reach an agreement before the midnight deadline to avoid a shutdown, industry stakeholders are increasingly aware of the importance of maintaining access to unbiased market intelligence to operate effectively. 

In the event of a shutdown, USDA food inspectors and federal animal care workers will remain on duty, but most other federal employees will not be at work...

Pacific Seafoods and Trident Close Kodiak Deal, Expect Smooth Transition to 2025 Season

Pacific Seafood Group and Trident Seafoods announced yesterday that the purchase of Trident’s processing operations in Kodiak by Pacific Seafood is now complete. The deal was first announced in mid-October, the last of a series of moves Trident made responding to persistent marketing and global financial conditions.

Oregon-based Pacific Seafoods has processed salmon, crab, and groundfish at it’s own plant in Kodiak for years. This acquisition will increase their production significantly.

The acquisition includes three well-established processing plants--Star of Kodiak, Alkod, and Kodiak ...

S&M Shellfish Co. Recalls Oysters Due to Potential Norovirus Contamination

On December 18, 2024, the U.S. Food and Drug Administration (FDA) published an advisory to restaurants, retailers, and consumers about the potential norovirus contamination of certain oysters from British Columbia harvesting sites.

The oysters in question have been pinpointed to Canadian growing areas BC 12-8 and BC 14-15 and have been shipped to distributors and retailers in Arizona, California, Colorado, Washington D.C., Florida, Georgia, Hawaii, Illinois, Kentucky, Missouri, North Carolina, Nevada, New Jersey, New York, Pennsylvania, and possibly additional states.

This comes after S&M Shellfish Company...