The last fishing vessel destined for Canada has been launched to be equipped at the Tersan shipyard in Türkiye. Inuksuk II is being built for Baffin Fisheries and is expected to be delivered in mid-2024.

Designed by Skipsteknisk, the 80 meter Inuksuk II will have a capacity of 1,320 tonnes of frozen Greenland halibut in its chilled fish house, or can switch to shrimp fishing, capable of holding 930 tonnes of frozen shrimp products.

“This is an important step toward delivering Nunavut’s first new fishing vessel,” said Sandy Kautuq, president of Baffin Fisheries in Clyde River.

“This magnificent new vessel will allow us to increase benefits for Nunavut communities and improve employment opportunities and working conditions for our fishermen.

The interior fittings and installation of equipment on board are expected to continue for several months.

Scotiabank led the additional financing of up to $60 million for the $72 million acquisition and included a direct loan from Export Development Canada (EDC). The Canadian Economic Development Agency (CanNor) is providing a repayable contribution of $3 million for the vessel.

Baffin Fisheries is owned by Inuit hunters and trappers associations from five communities in the Qikiqtani region (Baffin Island). The company is the leading commercial fishing enterprise in Canada’s North, harvesting more than 10,000 tonnes of Greenland halibut (turbot) and northern shrimp each year. Baffin Seafood ApS, a wholly owned subsidiary of Baffin Fisheries, markets its products worldwide.