Canada's largest fishing vessel will be ready for 2024, says Baffin Fisheries CEO

Many Newfoundlanders played a pivotal role in establishing this fishery, but the Inuit owners of Baffin Fisheries are very proud and have done extremely well to be ready to get this vessel going. It's going to serve us well and serve Nunavut well for 25 to 30 years," said Flanagan.

The ship is known as a factory freezer trawler, was designed by a Norwegian company, and is being constructed at the Tersan Shipyard in Turkey.
It will be the company's first new vessel, said Baffin Fisheries board chairman Sandy Kautuq, who resides in Clyde River, Nunavut.
In a news release issued this week by the company, Kautuq said: "This beautiful new vessel will allow us to increase benefits to Nunavut communities and improve employment opportunities and working conditions for our fishermen."
A $72M price tag
The ship comes with a $72-million price tag, but Flanagan said the contract was signed before a sharp uptick in the cost of doing business.
"If you wanted to build that vessel today, it would certainly be over $100 million," said Flanagan.
Some important components, such as the main and auxiliary engines, and the shaft and propellers, have been installed.
Flanagan described the ship's power plant as "the world's most fuel-efficient marine diesel engine," which he said will dramatically lower greenhouse gas emissions and reduce fuel costs.
But Flanagan said the processing factory and the freezers are still under construction. He described this as "difficult, technical work."
The factory and freezer will feature automation that will reduce the need for heavy lifting by the crew, and include a first-of-its-kind robotic arm.
The accommodations deck has not yet been constructed and will include 36 bunks instead of 28 to accommodate more crew and improve training.
The vessel is scheduled to be delivered mid-year 2024, but Flanagan is not ruling out delays because of global supply constraints.
Flanagan said the Inuksuk name is being preserved because the existing vessel, Inuksuk I, has a strong reputation among the company's global clients.
Flanagan said the Inuksuk I will likely be sold, but he said there's also a possibility it could remain in service if Baffin Fisheries can acquire new quotas.
Last year, Baffin Fisheries harvested nearly 9,000 tonnes of turbot, also known as Greenland halibut, and nearly 5,000 tonnes of shrimp.
The company employed 78 Inuit employees last year, according to the company's annual report, which was an increase of six over 2021.

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