The owner of a US-based company which operates a purse seiner fleet says the US government's reneging on an agreement it signed should not come as a shock.
Cannery, American Samoa Photo: Supplied
The Parties to the Nauru Agreement announced this week that the US is seeking to renege on the agreement because it cannot afford to pay the full US$89 million deal, which was signed in Brisbane in August.
Douglas Hines says his companies have been warning for some time of this occurrence and no one, especially the island nations, should be shocked.
He says the industry continues to be under extreme pressures brought about by producers, marketers, consumers and general supply dynamics with prices continuing to be pressed to levels where catastrophic conditions apply.
