Any takers for American Seafoods?

The American Seafoods factory trawler Ocean Rover moored in Seattle. Wesley Loy photo

Seattle-based American Seafoods has been for sale for years. But a sale has proved elusive, and now the company has "paused its sale process."

"Our business remains strong," CEO Einar Gustafsson said in this press release. He said the company would revisit sale discussions "when the macroeconomic environment improves."

American Seafoods is one of the biggest players in Alaska's groundfish industry. It operates several enormous factory trawlers and controls a large percentage of the total allowable catch of pollock in the Bering Sea.

It's not surprising that American Seafoods is a hard sell.

The company has operated on a foundation of risk and debt. Risk, in that it's largely dependent on the health of a single stock — pollock. And American Seafoods historically has dragged a heavy debt load, though we can't quantify the company's current status in that regard.

Another concern for American Seafoods is the advanced age of its fleet. Most of its vessels were built originally in the 1960s and '70s.

The major shareholder of American Seafoods is Bregal Partners, a private equity firm.

Crewman reported dead in Bristol Bay

From the Alaska State Troopers:

Location: King Salmon

Type: Drowning

On 7/5/24 at approximately 1231 hours, Department Of Public Safety patrol vessel Stimson received a mayday call from a commercial salmon fisherman in Kvichak Bay stating he lost a crewman over the side of his vessel. Alaska Wildlife Troopers responded to the area with two patrol skiffs and arrived just as the reporting vessel had located and retrieved their unconscious crewmember out of the water. AWT performed lifesaving measures for approximately one hour prior to pronouncing the crewman deceased. Investigation revealed Corwin Wheeler, 21, of Wisconsin, had become entangled in fishing gear and was pulled overboard and underwater. Next of kin has been notified.

Bristol Bay comes to life

After an easygoing start, the Bristol Bay salmon fishery is starting to gallop.

Yesterday was the first really big day of the season with a catch of more than 1.6 million sockeye, the Alaska Department of Fish and Game reports.

Total catch for the season now stands at nearly 7 million fish.

The forecasted harvest for this year is about 25 million sockeye, so still a ways to go.

Blotter

As the summer fisheries ramp up, so does enforcement. We're tracking the action on our sister blog The Brig.

Northline barge at 'reduced capacity' after fire

Here's a press release with further details.