The latest fishing vessel for Canada has been launched for outfitting at the Tersan yard in Turkey. Inuksuk II is being built for Baffin Fisheries and is scheduled for delivery in mid-2024.
Designed by Skipsteknisk, the 80-metre Inuksuk II will have capacity for 1320 tonnes of frozen Greenland halibut in its refrigerated fishroom, or can switch to shrimp fishing, capable of holding 930 tonnes of frozen shrimp product.
‘This is a great milestone towards the delivery of Nunavut’s first new fishing vessel,’ said Baffin Fisheries chairman Sandy Kautuq in Clyde River.
‘This beautiful new vessel will allow us to increase benefits to Nunavut communities and improve employment opportunities and working conditions for our fishermen.’
Interior outfitting and installation of equipment on board is expected to continue for several months.
Scotiabank led the incremental financing of up to $60M towards the $72M acquisition and included direct lending from Export Development Canada (EDC). The Canadian Economic Development Agency (CanNor) is providing a $3M repayable contribution towards the vessel.
Baffin Fisheries is owned by Inuit Hunters and Trappers Associations in five Qikiqtani region (Baffin Island) communities. The company is the leading commercial fishing enterprise in Northern Canada, harvesting more than 10,000 tonnes of Greenland Halibut (turbot) and cold-water shrimp annually. Baffin Fisheries’ wholly owned subsidiary Baffin Seafood ApS markets its products around the world.