Grand Banks

A large shallow area, rich in fish, located in the North Atlantic off Newfoundland. Publicized by John Cabot's voyage in 1497, this was once perhaps the world's greatest fishing grounds, with cod so thick they could be snagged in baskets, according to Cabot. The Candian portion of the Grand Banks have been closed to cod fishing as well as the cod fishery along the northern Newfoundland and Labrador coasts due to complete collapse of the Northern Cod stock.