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Ocean Peace and O'Hara Corp. Buy Vessels From Fishing Company of Alaska

Jan 25

Bowditch Marine

Ocean Peace and O'Hara Corp. Buy Vessels From Fishing Company of Alaska

by Bowditch Marine

On Friday January 20th 2017, Fishing Company of Alaska announced the sale of its three factory trawlers and catch quotas to Ocean Peace and O’Hara Corporation.  This ends more than three decades of sometimes troubled operations in the North Pacific seafood industry.

Mike Faris, chief executive of Seattle-based Ocean Peace, confirmed that his company will acquire two of the Fishing Company of Alaska vessels.  He said that Ocean Peace will continue operating the vessels, but will first modernize and improve them: “We will invest heavily in the vessels and bring them up to the level of safety and efficiency that we are real comfortable with.”

Executive vice president of O’Hara Corporation, Frank O’Hara Jr., said his company will acquire the other vessel and half of the fishing quotas to harvests. He said these quotas will give his company a more diverse harvest.  O’Hara also reported that after upgrades, the former Fishing Company of Alaska vessel will be one of five that his company uses in Bering Sea harvests.

The North Pacific waters off Alaska yield the nation’s biggest-dollar and biggest-volume harvests.

Read more of Fishing Company of Alaska’s history and the entire article  at http://www.seattletimes.com/seattle-news/northwest/renton-based-fishing-company-of-alaska-sells-boats-catch-quotas/

Hal Bernton, Seattle Times reporter

January 23, 2017 

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