Who owns the boat?

It is a mistake to assume that having monopoly control over fish quota amounts to controlling Nunavut’s fishery. Rather, the boat-owners who catch and land the fish call the shots, especially if they have gained exclusive rights to fish for the quota-holders. Consolidating the quota under one company such as Baffin Fisheries Coalition Ltd. simply removes their competition and allows the boat-owners to dictate the fees paid to the quota-holders for the entire quota. Naturally, it is in their best interests to set the price as low as possible.

So who are the boat-owners who would benefit from such an arrangement?

According to Transport Canada, the vessel known as “Inuksuk I” is owned by Nataaqnaq Fisheries Inc. (Canada corporation #6238769). According to Industry Canada, no parent or subsidiary companies are registered for Nataaqnaq Fisheries Ltd. Therefore (unless the Government of Canada has been misinformed) Baffin Fisheries Coalition apparently does not own this vessel, even indirectly.

What do we know about Nataaqnaq Fisheries Ltd.? According to Industry Canada, its Board consists of the following members:

Ron Coady
C/O Fraize Law Offices
268 Duckworth Street
St. John’s, NL
A1C 5W1

Finnur Bjorn Hardarson
Falkabraun 7
220 Harnarf
Jordur, Iceland

Steingrimur Erlingsson
Kirkjubraut10
170 Selt
Jarnes, Iceland

Henrik Leth
Royal Greenland
A/S P.O. Box 1073
3900 Nuuk, Greenland

Unless I am mistaken, none of these people are Inuit. None of them live in Nunavut. Three of them don’t even live in Canada and they are very likely not even Canadian citizens. In short, the “Inuksuk I” is not controlled by Inuit at all; it is in the control of foreign hands.

Curiously, one of these directors, Henrik Leth, is listed as an Executive Vice President of Royal Greenland Ltd. As their website states, “Royal Greenland is one of the world’s leading groups when it comes to catching, processing, manufacturing and distributing seafood products.” They also just happen to be the former owners of the Inuksuk I according to the Newfoundland newspaper The Independent (July 25, 2004). Why would an executive from a foreign seafood processing company want control over a vessel his company used to own? I think we can guess.

Apparently the corporation called Niqitaq Fisheries Ltd. is leasing the “Inuksuk I” from Nataaqnaq Fisheries Ltd. Niqitaq Fisheries Ltd. supposedly has an option to purchase the vessel as well. Like Nataaqnaq Fisheries Ltd., there is not one Inuk person on the board of directors of the company leasing the vessel. In fact there is only one person listed as a director and that person happens to be a lawyer living in Ottawa! Like Nataaqnaq Fisheries Ltd. the company leasing the vessel has no listed parent or subsidiary companies.

In short, BFC is not even remotely involved in this whole business of ownership.

Wouldn’t it seem like a reasonable thing for BFC to have representation on the board of the leasing company for the sake of control, especially if that company happens to have an option to purchase a multi-million dollar vessel which fishes their quota? Yet it seems that BFC has absolutely no representation on the board of the company which owns the vessel or the company that leases it from those owners. Who would stand to benefit from this arrangement? If this is so good for Inuit, then where is the Inuit representation? Where is the Inuit control over the fishery? So much for Mr. Ward’s platitude that “you will not control your own destiny before you control your resources through the ownership of vessels.”

Who owns this boat now and who will own it if the option to purchase it is exercised? Who stands to get very very rich from this arrangement?

So far, all we know is that the “Inuksuk I” is owned by a company whose shareholders’ identity remains a secret and the company with right of first refusal to buy it does not appear to be even run by Inuit. Am I the only one growing a little suspicious?

Perhaps all Inuit (and all other Nunavummiut who care about the fate of Inuit interests) ought to demand that the identity of all shareholders of Nataaqnaq Fisheries Ltd. and Niqitaq Fisheries Ltd. be revealed before one more penny of public money is given to the BFC.

(Name withheld by request)
Iqaluit