Whitefish

Quota limits, cod collapse and a $20 million gamble: A Norwegian seafood giant's high-stakes future

Family-owned Brodrene Karlsen holds some of the largest coastal quotas in Norway. But new quota caps, a historic cod slump, and a massive investment in new processing capacity are putting company — and its community — to the ultimate test.

Rita Karlsen runs Brodrene Karlsen, one of the largest owners of cod quotas in the Norwegian coastal fleet. In the background is one of its fleet, the purse seiner "Thea Mathilde". The boat is owned by Jimmy Tollefsen and Karlsen's son Tarald Karlsen, who is also the skipper on board.
Rita Karlsen runs Brodrene Karlsen, one of the largest owners of cod quotas in the Norwegian coastal fleet. In the background is one of its fleet, the purse seiner "Thea Mathilde". The boat is owned by Jimmy Tollefsen and Karlsen's son Tarald Karlsen, who is also the skipper on board.Photo: Silje Helene Nilsen
Journalist
Published 26 August 2025, 04:35Updated 26 August 2025, 04:41
Brodrene KarlsenArctic CodAtlantic codQuotasNorway