Saving Seafood

Remembering a pair of Alaska titans through the eyes of a fisherman

October 27, 2021 — Alaska, and the seafood industry, saw the passing of two giants in the past few weeks: Clem Tillion and Chuck Bundrant. The news articles about them were great and provided good insight into the men, their accomplishments and their passions. I had the pleasure to know and work with both for several decades. I loved both of them. This is my effort to share some behind-the-scenes observations of them as human beings.

Both Clem and Chuck shared many similarities. They were visionaries, keenly intelligent, tenacious, canny. They had endless stories and great memories, especially for people. They each had a great sense of humor, did everything possible to succeed — and succeed they did, albeit with a few broken eggs in the process. They both created legacies that will outlast them and benefit us for generations to come

I first met Clem on an early Sunday afternoon after I had finished processing crab at Juneau Cold Storage. It was January 1977. I was walking down the street in my soiled clothes when I encountered a tall, red-headed, husky man. He stopped me, asked if I was just getting off work at the cold storage and introduced himself, “I’m Clem.” We started talking fish. One thing led to another, and the next thing I knew, we were in his office in the Capitol Building. That was when I found out he was a state senator.

Read the full story at the Anchorage Daily News

 

How The Trade War With China Is Threatening America’s Largest Fishery

February 13, 2019 — Alaskan pollock is an incredibly versatile fish when it comes to cooking. The species is often referred to as a “cousin of cod” because the two species are classified in the same family, Gadidae. This means they have many shared characteristics, including how they taste. Their meat is a flaky blank slate, ready for nearly any preparation you could throw at it. Pollock’s affordability also makes it an attractive species for a variety of markets, from fast-casual to university and corporate dining.

These factors, along with the stability and health of the species’ population, helped to make Alaskan pollock the top species landed by volume in the United States in 2017. It hasn’t always been a top seller though. Back in the 1980s, there was very little demand for the species, but seafood distributors such as Trident Seafoods, based in Seattle, saw pollock’s potential as a cheaper cod alternative. Trident started a pollock revolution and became the largest vertically integrated seafood company in North America. Its founder, Chuck Bundrant, even became a billionaire, with a net worth Forbes estimates at $2.4 billion. Today, Alaskan pollock remains one of the top five most commonly eaten species in the U.S., but the fishery is at risk of being diminished by the ongoing trade war with China.

The species’ dominance could change if markets become unavailable because of shifts in global seafood processing and distribution due to an escalating international trade war. Last summer, China put in place a retaliatory tariff of 25% for seafood products. Then the U.S. proposed a 10% increase for tariffs on seafood imported from China. The issue here is that a portion of seafood caught by American fishermen is shipped to China for filleting and processing before being re-exported back in the U.S. for Americans to buy. While this seems like a wildly inefficient move, it has been, in fact, a commonly used method to cut costs. That meant when Alaskan pollock was processed in China and re-exported to America, it was included on the tariff lists.

After reports came out that the tariffs were harming the American fishing industry, particularly in Alaska, the U.S. announced that certain species of fish caught in the state would be excluded from the tariff list. Alaskan pollock is included in this group and will not be taxed when re-entering America. But the exemption doesn’t solve all problems for Alaskan fishermen and processors.

According to an FAO market report from January, Trump’s trade war “could end up favoring Russian Federation (and Chinese) exporters at the expense of Alaska processors.” This is because foreign fishing competitors can still ship pollock caught in their waters to China for lower-cost processing and then re-export to the U.S. tariff free. It seems like a bad turn of events for Alaskan fishermen and processors.

Read the full story at Forbes

 

The Man Who Got Americans to Eat Trash Fish Is Now a Billionaire

July 19, 2017 — Chuck Bundrant was a college freshman with $80 in his pocket when he drove halfway across the country to Seattle to earn a few bucks fishing. The year was 1961.

He hasn’t stopped fishing since.

And today, Bundrant, the founder and majority owner of Trident Seafoods, is worth at least $1.1 billion, according to the Bloomberg Billionaires Index. His wealth is due to a fair measure of pluck. Back in the early 1980s, he persuaded Americans to eat pollock, then considered a trash fish, at fast-food restaurants and, to this day, Trident ships it — along with salmon and cod — to chains including Costco and Safeway.

Along the way, Bundrant cultivated politicians who would pass legislation that aided Trident’s business by keeping foreign fisheries at bay. These days, Trident also is benefiting from health-conscious consumers gravitating to seafood.

The Bloomberg index calculates that Bundrant owns 51 percent of privately-held Trident, which had $2.4 billion in revenue last year, based on information compiled from trade groups. It’s valued by the Bloomberg index at about $2.1 billion, using comparisons to five publicly traded peer companies, including Clearwater Seafoods Inc. and Oceana Group Ltd. Trident operates about 16 processing plants and 41 fishing vessels — and remains defiantly independent.

“We don’t answer to investment bankers like some other seafood companies,’’ the company writes on its website. “We only answer to our customers, our fishermen, and our employees.”

Read the full story at Bloomberg