Fishing Industry

Published on: May 14, 2025

Empowering Alaska Fishermen Through Insurance Cooperatives

House Bill 116 is currently under consideration by the Alaska State Senate, representing a potential turning point for the state’s commercial fishing industry. This legislation would authorize Alaskan fishermen to form their own insurance cooperatives, which would lower operating costs and ensure the financial stability of smaller operators facing increasingly difficult economic conditions. Having passed the House unanimously, the bill is now before the Senate, with a strong possibility of enactment this session.

The bill originated from the Joint Legislative Task Force Evaluating Alaska’s Seafood Industry, which analyzed and identified growing financial strains on commercial fishermen. As Representative Louise Stutes, R-Kodiak, and Senate President Gary Stevens have emphasized, the combination of record-high operating costs and record-low fishing market prices calls for innovative solutions to support this vital sector of Alaska’s economy.

The primary concern driving this legislation is the increasing cost and decreasing availability of traditional insurance for fishing vessels. Underwriters are reportedly increasing premiums and becoming more selective with their customers. This has created a significant barrier for many independent fishermen seeking insurance. By enabling fishermen to collectively pool their resources, they can create a larger, potentially lower-risk insurance pool, theoretically leading to more attractive rates and greater access to coverage.

Published on: February 17, 2025

Alaska Salmon Forecast 2025

by Nigel Stacey

The Alaska Department of Fish and Game (ADF&G) has released its 2025 salmon run forecast for the Prince William Sound (PWS) and Copper River regions. The projections provide key insights into Chinook, sockeye, pink, and chum salmon returns, which will influence early-season management strategies.

Copper River Chinook Salmon

The 2025 forecast anticipates a total run of approximately 36,000 wild Chinook salmon in the Copper River, with a prediction range between 25,000 and 51,000 fish. This is 25% below the recent 10-year average of 48,000, classifying the run as “Weak.” Given the sustainable escapement goal (SEG) of 21,000 to 31,000 fish, ADF&G plans to enforce conservative management to support stock sustainability.

Published on: February 4, 2025

Joint Legislative Task Force Evaluates Alaska’s Seafood Industry

by Joseph Stacey

In response to mounting economic challenges within Alaska’s seafood sector, the Joint Legislative Task Force Evaluating Alaska’s Seafood Industry has released a preliminary report. The report identifies critical issues affecting the industry and proposes policy recommendations to address them.

Key Challenges Identified

The task force report highlights several pressing challenges:

Published on: October 29, 2024

NOAA’s 2024 Seafood Industry Report

by Joseph Stacey

Alaska’s seafood industry, a cornerstone of the state’s economy and U.S. fisheries, is facing significant hurdles, as revealed in NOAA’s 2024 report. Economic conditions, workforce challenges, and climate impacts are driving this once-thriving sector into a difficult period, resulting in substantial declines in profits and industry-wide layoffs.

Economic Downturn and Job Losses

The report details that from 2021 to 2023, Alaska’s seafood industry saw a 50% drop in profitability, largely due to rising costs for fuel, labor, and materials combined with declining global seafood prices. In total, the industry suffered a revenue loss of around $1.8 billion, impacting over 38,000 jobs across the United States, including workers in Alaska and beyond. This economic slump is attributed to global market competition and a complex web of supply chain issues that continue to hinder recovery efforts.

Published on: September 24, 2024

Stacey and Jacobsen, PLLC Expands with new Office in Anchorage, AK

by Nigel Stacey

Stacey and Jacobsen, PLLC, one of the nation’s leading maritime personal injury plaintiff firms, is proud to announce the opening of a second office in Anchorage, Alaska. This expansion strengthens the firm’s ability to provide legal services to maritime workers and their families across the Pacific Northwest and Alaska, two of the most vital regions for the fishing and maritime industries. Stacey & Jacobsen has a storied history in Alaska, including trials, mediations, vessel inspections, hearings, and depositions. This new office reinforces the firm’s commitment to aggressively and effectively protect and pursue our clients’ rights and will build upon the firm’s reputation.

The Seattle office located at Fishermen’s Terminal, is just minutes from the Port of Seattle, and positions the firm at the heart of one of the nation’s most active maritime hubs. In Anchorage, the new office in Midtown Anchorage places the firm in close proximity to Alaska’s thriving fishing and maritime communities and the Alaska state and federal courthouses, reinforcing their commitment to serve injured seamen, commercial fishermen, and other maritime workers who often face dangerous working conditions. The new office offers a dynamic environment to assist the firm’s next chapter in Alaska.

Both offices are equipped to manage cases related to maritime law, Jones Act claims, and wrongful death cases. Stacey and Jacobsen, PLLC has long been known for its comprehensive understanding of maritime law and dedication to securing compensation for injured workers.

Published on: August 27, 2024

Commercial Fishing and Expanded Functionality for Vessels

by Joseph Stacey

Commercial fishing is currently facing a range of challenges that include overfishing, climate change, illegal fishing that is depleting stocks, regulatory changes, and economic changes that include higher fuel prices, equipment costs, and labor costs. In response, commercial fishermen are increasingly pivoting to adapt. Fishermen are also investing in advanced technology and collaborative efforts to enhance resource management and ensure the long-term viability of their operations amid growing pressures on seafood resources.

One way fishers are successfully pivoting is by outfitting their vessels to expand functionality. John Schumacher founded Distinctive Finishes, a business located in Haines, Alaska, as a response to the growing need for versatile fishing equipment. It became clear to John and others that relying solely on salmon and crab fishing was no longer financially sustainable for many fishermen.

Distinctive Finishes is nearing completion on the overhaul of the F/V DAB CHICK, a 53-year-old 34-foot crabber and gillnetter. Once the project is finished, the F/V DAB CHICK will be equipped for longlining, trolling, gillnetting, and crabbing. This opens many more fishing options for the vessel owner.

Published on: July 16, 2024

Disaster Relief Applications Due August 24th

by Nigel Stacey

Federal disaster relief is coming to help many commercial fishing permit-holders. The Pacific States Marine Fisheries Commission (PSMFC) will be administering the payments of three federal awards. For more information, you can visit their current disasters page.

Permit-holders and processors need to submit their applications to the PSMFC in Portland, Oregon or upload applications through the online portal before August 24th. Crew and subsistence users have until September 28th to submit their applications.

The PSMFC mailed out applications on June 26th, 2024. If you have not received a hard copy, email AKFishDisaster@psmfc.org to request an electronic copy. Once you have completed the application, you may either mail it to the commission or upload it online.

Published on: May 28, 2024

Alaska Lawmakers Approve Task Force to Aid Troubled Seafood Industry

by Joseph Stacey

In response to the downturn in the seafood industry, Alaska lawmakers have approved the formation of a specialized task force created to address the challenges currently facing this vital sector. The decision reflects the need to mitigate the economic and social impacts that have reached a crisis point within the industry.

The measure, Senate Concurrent Resolution 10, will create an eight-member seafood industry task force, comprised of four state senators and four state House members, with the Senate president as chair.

The House passed the resolution nearly unanimously on Saturday May 25^th, 2024. The Senate, which initially approved the resolution on April 19th, unanimously accepted the House’s amendments on Sunday.

Published on: February 6, 2024

OBI Seafoods Closes Larsen Bay This Season

by Nigel Stacey

On Wednesday, January 31^st, 2024, OBI Seafoods verified that the Larsen Bay facility on Kodiak Island will remain closed for the 2024 salmon season. John Hanrahan, the CEO of OBI Seafoods, stated that operations will cease at the Larsen Bay plant due to the “poor pink salmon forecast” from Alaska’s Department of Fish and Game (ADF&G) as well as challenging market conditions for salmon products.

In November 2023, John Hanrahan was promoted to CEO from his previous position as Chief Operating Officer overseeing sales and marketing. He succeeded Mark Palmer after his retirement.

OBI Seafoods, based in Seattle, Washington, was established in 2020 following the merger of Ocean Beauty Seafoods and Icicle Seafoods. This strategic merger created an entity with a more competitive edge against competitors Trident Seafoods and Silver Bay Seafoods. OBI Seafoods has since become a prominent participant in Alaska’s salmon fishery.

Published on: September 27, 2022

Congratulations to Nigel Stacey 2022 Rising Star!

by Joseph Stacey

Stacey & Jacobsen, PLLC is pleased to congratulate Nigel Stacey on his selection to the 2022 Washington Rising Stars® list. Each year, no more than 2.5-percent of the lawyers across Washington State are selected as Rising Stars® by a research team at Super Lawyers. The Rising Stars® list recognizes attorneys who have demonstrated remarkable talent, service, and results—all hallmarks of Nigel Stacy’s work.

The Rising Stars® selection process is based on the following 12 indicators of peer recognition and professional achievement:

Verdicts/Settlements