Saving Seafood

Blue Harvest finalizes acquisition of portion of Carlos Rafael fleet

February 20, 2020 — Last year in New England, U.S.A., 90 percent of the haddock quota and 92 percent of the pollock quota was left in the water.

Blue Harvest, based in New Bedford, Massachusetts, is aiming to change those numbers and the company’s recent acquisition of 12 groundfish vessels and 27 fishing permits is a part of its efforts to begin utilizing the resource. The vessels, and permits, were formerly part of the fleet of Carlos Rafael – a.k.a. “The Codfather” – who pleaded guilty in 2017 to falsifying fish quotas, tax evasion, and conspiracy and then subsequently settled a civil case with NOAA that forced him to permanently stop all commercial fishing by 31 March, 2020.

Read the full story at Seafood Source

Blue Harvest CEO expects 15 Rafael vessel deal to close within weeks

January 14, 2020 — Now that their only competitor has dropped out of the bidding, Keith Decker, the CEO of Blue Harvest Fisheries, expects to close his company’s deal for 15 of Carlos Rafael’s groundfish vessels in the US port of New Bedford, Massachusetts, within the next few weeks, The Standard-Times, the community’s local newspaper, reported Friday.

“At this time, no, I don’t see any further impediments to closing the transaction,” he reportedly told the newspaper, adding that Blue Harvest plans to keep the vessels in New Bedford.

Undercurrent News broke the news on Jan. 8 that Richard and Raymond Canastra, the founders and owners of the Buyers and Sellers Exchange, New Bedford’s main seafood auction, have withdrawn their offer to acquire the vessels and their related permits.

The Canastras, back on Dec. 20, attempted to use a “right of first refusal” rule in New England’s Sector VII, which gives members of the greater  Northeast Sector Service Network — including BASE — 30 days to match any offer for vessels by companies or persons from outside the network, jumping ahead of Blue Harvest and its $19.3 million bid made on Nov. 21. The Canastras said they planned to sell the boats and their permits to individual harvesters in New Bedford. However, the two brothers said they lost their financial backers when Blue Harvest filed a lawsuit, on Dec. 23, in a Massachusetts state court.

Read the full story at Undercurrent News

Blue Harvest inks deal to acquire 35 Rafael groundfish vessels for $25m

November 26, 2019 — One of the most anticipated forced sell-offs in the history of US commercial fishing – the unloading of Carlos Rafael’s fleet in New Bedford, Massachusetts — looks to be on the verge of completion.

Blue Harvest Fisheries, a US scallop and groundfish supplier backed by New York City-based private equity Bregal Partners, has signed a purchase agreement to buy at least 35 vessels and skiffs and all of their associated permits from Carlos Rafael for nearly $25 million, documents obtained by Undercurrent News confirm.

The deal includes millions of pounds of quota for at least eight types of fish in the Northeast multispecies fishery, including cod, haddock, American plaice, witch flounder, yellowtail flounder, redfish, white hake, and pollock.

Read the full story at Undercurrent News

Scallops poised to jump back on US casual restaurant menus

January 28, 2018 — MIAMI — Previously deemed to be saddled with prices too volatile to offer at casual restaurants in the US, look for scallops to come back on menus in 2018, predicts Sean Moriarty, vice president of sales for Blue Harvest Fisheries.

Good luck finding Atlantic sea scallops at the types of sit-down dining establishments Americans most often frequent, like Olive Garden, Applebee’s or Outback Steakhouse.

The price of the shellfish have proven too lofty and volatile for such major chains to take the risk. But that could change soon as the global supply of scallops promises to reach an epic high in 2018, pushing prices to a more affordable range.

“I think the domestic consumption should continue to increase,” said Moriarty Wednesday during a panel on bivalves at the National Fisheries Institute’s (NFI) Global Seafood Market Conference, in Miami, Florida. “I think, especially in 2018, you’ll see a push to get back on the menu, not just in appetizers but in the center of the plate.”

Moriarty’s vertically integrated New Bedford, Massachusetts-based employer — one of the US’ top five producers of Atlantic sea scallops with 15 vessels operating in New England — will be among those rooting for more restaurants to join the scallop party.

Along with few abrupt changes in recent times – including a sudden drop that followed a glut of landings in May 2017 — scallop prices have grown overall since 2011, according to Urner Barry figures shared by Moriarty at the event.

Read the full story at Undercurrent News