Village Cove Seafoods (VCS) was formed in 2011 to provide a stable buyer for CBSFA’s CDQ Pacific Cod allocations and Saint Paul Fishing Company’s federal water fishing endeavors and S tate waters fishing activities. All of CBSFA’s and Saint Paul Fishing Company’s Pacific Cod holdings are harvested by the F/V Saint Paul and the F/V Saint Peter. Both of these vessels are 100% owned by CBSFA and managed by Saint Paul Fishing Company.
In 2015, the F/V Saint Paul and F/V Saint Peter landed, and Village Cove Seafoods purchased 8.529 million pounds with an ex-vessel value of $2.499 million. The F/V Saint Paul landed 3.905 million pounds during the winter/spring A season with a value of $1.147 million. During the A season, the F/V S aint Peter landed 2.986 million pounds with an ex-vessel value of $.882 million. During the fall B season, the F/V Saint Paul landed .836 million pounds with a value of $.251 million and the F/V Saint Peter landed .801 million pounds with a value of $.228 million.
VCS had the Pacific Cod landed by both Saint boats processed under custom processing agreements with both Unisea and Alyeska Seafoods in Dutch Harbor. A total of 1.496 million pounds were produced. The bulk of this product was in the form of 45-pound shatterpacks.
Market conditions for Pacific Cod remained very competitive in 2015. Accordingly, VCS’ customer base was expanded. A new program was implemented with a major buying club for a custom processed vacuum-packed offering. Additionally, two new programs were established with leading super market chains. Finally, VCS continued to support several regional wholesale seafood distributors.
Total sales in 2015 were 2.131 million pounds with a value of $6.325 million. Year end inventories were reduced by 71% on a year over year basis, positioning VCS for a successful 2016.