January 24, 2024 — Peter Pan Seafoods has canceled processing for the A season of 2024 at its large King Cove facility, citing “tumultuous” conditions in global seafood economics, but vowed to be open for the B season, and firmly committed to Alaska, its fleet and communities where they do business.
“We did not come to this decision quickly or easily,” the company said when announcing the forthcoming closure on Jan. 12. “The industry is facing inflation, interest rates hikes, financing challenges, and high fuel costs. We have worked through these issues as diligently as possible and have explored possible options.”
“We remain committed to continuing to provide the best service and support possible to our fleet, communities, and stakeholders while continuing our mission to be an exemplary global supplier of top-quality and responsibly sourced seafood. Looking to the future, we will employ more than 1,000 this year as we open the King Cove facility for the 2024 B Season and our other three facilities as normal for the salmon season,” the company said.
In years past the King Cove processing facility has processed seafood on a year-round basis and been closed down only for a couple of weeks at year’s end. Workers there, brought in on a seasonal basis, have processed king crab, opilio crab, Tanner crab, Alaska pollock, cod salmon halibut, and black cod.