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North Pacific Fishing Fleet Offers $1.6 billion in Economic Opportunity

December 3, 2016

The Port of Seattle and the Washington Maritime Federation released a detailed analysis of the North Pacific fishing fleet infrastructure and factors related to modernizing the fishing fleet.

With more than 400 vessels over 58 feet, and an average age of 40 years, the report found that there is a need to replace (or refurbish) older vessels. This need represents a significant economic opportunity for the region for the next ten years and beyond.

The report also finds that while the North Pacific fishing fleet plans to spend $1.6 billion on modernization in the next decade, shipyard competition, economic conditions, and public policy will determine how much of this vessel construction will be done in Puget Sound.

Opportunity analysis and more

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