CDQ groups, Alaska communities buy out seven crab vessels, $35m in quota
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Jan. 7, 2021 18:58 GMT
Two major community development quota (CDQ) groups in the US state of Alaska and several remote communities in the western part of the state will buy seven crab vessels and an estimated $35 million in quota, buying out the Mariner Companies assets, they said [.]
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The Aleutian Mariner is one of seven vessels bought by a coalition of western Alaska communities from the Mariner Companies in January 2021. Geoffrey V/MarineTraffic.com photo
A coalition of 30 communities, the Coastal Villages Region Fund and the Bristol Bay Economic Development Corporation has come together to buy the Seattle-based Mariner Companies.
Through the agreement, the Mariner Companies will sell crab quota valued at $35 million to the communities in the Yukon-Kuskokwim Delta and Bristol Bay regions. The Coastal Villages Region Fund and the Bristol Bay Economic Development Corp., both of which participate in Alaska s community development quota program, provided support to the communities to purchase the quota, and will support the harvest through their fishing operations.