Circle Seafoods withdraws offer to establish new floating salmon processor in Bristol Bay

Circle Seafoods, a company aiming to shift away from what it says is Alaska's "inefficient, costly and financially opaque processor supply chain," is once again looking for funding following pushback from Bristol Bay fishermen.

Last week, Washington State-based Circle Seafoods rescinded its offer to partner with Bristol Bay Regional Seafood Development Association (BBRSDA). If approved, the project would have required the BBRSDA to fund, finance and own a $15 million (€14 million) freezer barge and lease it out to Circle Seafoods under a long-term agreement that would have provided innovative price and pay benefits for BBRSDA members.