The Fairway Fishing Company and Copious Fishing Company Ltd. have both received investments from Shetland Development Trust to assist in purchasing vessels.
The Fairway Fishing Company has secured a £600,000 investment from Shetland Development Trust to assist with the purchase of a second hand vessel to fish along side the MFV “Fairway”, LK 270.
Interim general manager of Shetland Development Trust, Neil McDougall, said: “The investment will allow the company to purchase a second whitefish vessel and bring deckhand, Stephen Hughson, into the business as a shareholder. There may also be an opportunity for further employment possibilities through the introduction of up to six additional crew for the vessel.”
Welcoming the investment on behalf of the company, skipper Lesley Hughson said: “We are delighted that Shetland Development Trust has chosen to support this investment and our contribution to the long term benefit of the white fish industry in Shetland.
“By investing in a new vessel, we also able to bring younger shareholders into the business and look towards the long-term development of the company.”
SDT has also agreed to invest £425,000 in the Copious Fishing Company Ltd. to assist with the building of a sister whitefish vessel for MFV “Copious”, LK 985. The investment will allow the new vessel to pair trawl with the MFV “Copious” and fully utilise its allocated fishing quota for mixed species.
Welcoming the investment, MFV “Copious” owner, Mark Anderson, said: “We are delighted by the Council’s decision to support the building of the new vessel. We plan to rig it in the same way as the MFV “Copious” so that we can work together in sharing valuable information on healthy fishing grounds and pair trawling to maximise the use of our quota.
“It also allows us the opportunity to bring in three new experienced shareholders and at a time when there’s a return in confidence to the whitefish sector.”
