Op-Ed – Fishermens News

Building a Resilient Future – How Business Advisory Teams Can Shape Success in Commercial Fishing

It’s no secret that the commercial maritime industry is facing several changing market conditions. There are whispers of pending economic headwinds, biomass resource challenges, and persistent inflation across the board. Furthermore, as the Federal Reserve maintains its course of quantitative tightening by raising interest rates, the cost of borrowing continues to rise. These impacts are having and may continue to have a large impact on your business. Implementing a strategic mindset and using best practice management tools will add value to your business and help you successfully navigate today’s and tomorrow’s challenges. The Power of an Advisory Team Many commercial fishing operations are owned by an individual or as a partnership. These are successful business models that are nim...

Op-Ed: The Value of Fishing Grounds on California’s North Coast

Fishermen operating worldwide over the past 100 years have been continually challenged by the steady loss of fishing grounds caused by non-fishing ocean development and challenges from regulatory restrictions. The list of these developments is massive—cable lanes, dumping grounds, oil and gas mining, military closures, fishery regulations, dredging, ocean-sewer outfalls, marine-protected areas, shipping lanes, etc. Wind-power projects are beginning to consume extensive tracts of coastal fishing grounds in Europe and now in the U.S. With the approaching loss of thousands of miles of U.S. West Coast fishing grounds to offshore wind (OSW) development, the state of California’s permitting agency has begun asking about the value of California’s fishing grounds. The response is difficult and...

Navigate Commercial Maritime Financing in a Rising Rate Environment

Lingering post-pandemic challenges, supply chain issues, and pent-up demand has led to rising prices, resulting in a level of inflation not seen in 40 years. It seemed inflation might slow by the end of the summer with a drop in fuel prices. Unfortunately, the government’s September report on the Consumer Price Index showed inflation to be persistent. The Federal Reserve’s response has been a series of interest rate hikes in an attempt to cool this inflationary trend. In turn, borrowers are seeing rates increase on everything from business loans to home mortgages. Increasing rates mean higher loan payments. In this economy, it’s not surprising to feel concerned as the costs of borrowing rise. Many commercial maritime projects are financed. Whether buying new permits or planning vessel ...