READ: Tasmanian scientist blasts quota decision as 'staggering and dangerous'

Seafish Tasmania is based in Triabunna where it operates a fish processing factory employing about 25 people. 

Yesterday, company director Gerry Geen told ABC radio the company had invested ``millions'' in bringing the super trawler to Australia and could not say if the existing business could continue in the wake of the federal government's last minute intervention to prevent it using the 142-metre long vessel.  

``That's something we're going to have to look at,'' Mr Geen said. 

The region has been struggling since the shutdown of its wood chip mill, previously owned by Gunns, since April last year. 

Glamorgan Spring Bay Mayor Bertrand Cadart said the town could not afford to lose another business. 

``To use an Australian expression, when it rains it bloody pours,'' Cr Cadart said. ``We are incredibly stressed, financially and emotionally disturbed.'' 

He said he intended to raise the future of Seafish Tasmania at a meeting with other councillors. 

Federal Parliament was expected to pass new laws announced on Tuesday which allow the federal Environment Minister or Fisheries Minister to block any commercial fishing activity where there was uncertainty about its impact on the fishery. 

The Coalition declared it would vote against it. 

Tasmanian Liberal Senator Richard Colbeck described it as policy on the run after the original legislation tabled had to be tightened to protect recreational fisheries. 

Senator Colbeck said it was still an overreaction. 

State Liberal leader Will Hodgman acknowledged there were legitimate concerns about the super trawler but said a blanket ban was going too far. 

Lyons Labor MHR Dick Adams, who had backed the super trawler, said politics had intervened. 

Tasmanian Greens Leader Nick McKim said Seafish Tasmania had no one to blame but itself.

``Seafish Tasmania has got to wear this because they are the ones that went out and employed people before they had a licence,'' Mr McKim said.