As northern cod stocks rebound, Labrador company seeks its own quota (original) (raw)
A company in Labrador wants a piece of the Northern cod fishery — five per cent to be exact. Labrador Fishermen's Union Shrimp Company, or LabShrimp, made its pitch at a press conference aboard the Nain Banker docked in St. John’s Tuesday.
CEO Dwight Russell says he doesn't want to take away other participants' allocations
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Labrador Fishermen's Union Shrimp Company CEO Dwight Russell said a five per cent share in the northern cod fishery could spell the future of his company. (Patrick Butler/Radio-Canada)
A company in Labrador wants a piece of the offshore northern cod fishery — five per cent to be exact.
The Labrador Fishermen's Union Shrimp Company, or LabShrimp, made its pitch at a press conference aboard the Nain Banker docked in St. John’s Tuesday.
As crab and shrimp stocks continue to deplete, new president and CEO Dwight Russell said coastal communities would benefit from the company having a five per cent stake in the cod fishery’s total allowable catch.
“The only hope for the future is cod,” said Russell.
While the co-operative currently processes the catch of its 600 individual inshore harvesters, the processor is asking for its own quota in the offshore fishery.
It's up to Fisheries and Oceans Canada to decide whether the company gets its wish. Inshore harvesters owned 80 per cent of the total allowable catch up 38,000 tonnes of northern cod last year, and offshore harvesters owned just under 10 per cent. This year’s total allowable catch is expected to be announced by the federal government either this month or next month.
LabShrimp’s harvesters operate in an area off the southern coast of Labrador known as 2J, where the company says half of the northern cod population resides. Russell said that’s a large reason why the company thinks it deserves its own share.
“People are at the heart of this discussion. Shareholders, harvesters, plant workers, families, young people who want reasons to stay in their communities … that is ultimately who this conversation is about,” said Russell.
WATCH | Dwight Russell’s pitch to own a share in the northern cod fishery:
This Labrador seafood company wants in on Northern cod
Labrador Fishermen's Union Shrimp Company’s new CEO Dwight Russell made a bold pitch Tuesday morning: a five per cent share of the province’s Northern cod fishery. He says the growth of cod stocks will ensure other participants aren’t burned if his company enters the arena.
The CEO clarified his company isn’t asking for existing allocation holders to lose access to their share, but wants a share in future growth.
The province’s northern cod stock is replenishing at a rapid rate, which Russell and other industry players say calls for increased quotas.
As the stock grows, Russell argued harvesters won’t have to lose any of their annual catch if LabShrimp enters the arena.
“I think that most fisheries, when they grow, there's always a place for other players at the table,” he said.
Russell said LabShrimp has the investments and infrastructure to handle a five per cent share. He said he’s spoken with federal Fisheries Minister Joanne Thompson, and he left feeling optimistic.
No support from groundfish council
The Fish, Food & Allied Workers union has declined to comment on the matter.
A group representing companies that harvest northern cod, halibut and other groundfish sent CBC News a statement saying it does not support new entrants to the northern cod fishery.
“There are historical participants, such as the offshore and midshore fleets, that do not yet have their full historical allocations reinstated,” said Sylvie Lapointe, president of the Atlantic Groundfish Council.
The Atlantic Groundfish Council said those existing bodies should benefit from any increased quotas.
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Clarifications
- This story has been updated to clarify that LabShrimp is seeking a five per cent share of the total allowable catch as a processor, an amount over and above any fish it processes from members of the co-operative.
May 13, 2026 2:51 PM EDT
ABOUT THE AUTHOR
Maddie Ryan is a reporter in St. John's, Newfoundland and Labrador who has experience covering a wide range of stories, from politics and social issues to music and culture. Contact her at madison.ryan@cbc.ca.
With files from Todd O'Brien