Seafood Market Report
It is a pleasure to present the latest in our series of Seafood Market Reports. Íslandsbanki has served the Icelandic Seafood industry for over a century, financing the first Icelandic motorized trawler in 1904. The Bank began its international operations in 1999 by providing financing solutions to the fishery sector on the East Coast of Canada. Through these reports, we strive to provide insights into the key trends and issues shaping the industry.
In 2013, we published a report covering the North Atlantic Seafood Market, which we defined as Norway, the Faroe Islands, Greenland, Canada and the United States. Last year, we narrowed our focus by writing about the U.S. and Canadian industries. This year’s report further sharpens our focus by concentrating on the key regions within the United States - the Atlantic Coast, Gulf of Mexico and Pacific Coast.
Watch the video
Timothy Spanos serves as an Executive Director on Íslandsbanki's international team.
Watch the following video to get a glimpse of the work done by Íslandsbanki's international team and highlights of the report.
- The U.S. is the fourth largest fishing country in the world and one of the most important markets for seafood.
- During the past 20 years, total landings averaged 4.2 million MT. Landings increased by 5.6% to 4.5 million MT in 2013.
- The total value of the U.S. catch has increased steadily since the early 2000s reaching $5.5 billion in 2013.
- The Pacific coast is the largest U.S. fishery accounting for approximately 70% of total volume and half of total value.
- The Atlantic and Gulf coast regions are smaller when measured by volume, but generally consist of higher value shellfish species.
- Key fishing states include Massachusetts, Maine, Virginia, Louisiana and Alaska.
Do you want to know more? View or download the full report below or order a printed copy by clicking on the "Order Report" button.