Russia plans to construct 33 new fishing vessels as part of a new quota campaign in the next five years. While the United States is moving at a markedly slower pace, stakeholders in the North Pacific commercial fishing fleet said they are optimistic about its future.

"Compared to investment happening in other countries, it's a slower process here," Chad See, executive director of the Seattle-based Freezer Longline Coalition, told IntraFish.

Vessels in the Unites States are more expensive and take longer to build than those in Russia because they fall under stricter regulations, he said.