The development of the international shrimp (Pandalus borealis) fishery in NAFO Division 3M is described. Various indices show that even the stock was in high levels in 2006 and 2007 the lack of good recruitments in the last years and the progressive disappearance of the strong year classes 2001 and 2002 have caused a drastic decline of the stock. Although the effort in the last years was low due to high cost of oil and low marketing prize of shrimp, the increase of cod biomass (the most important predator of northern shrimp in 3M) has probably been the cause of the successive bad recruitments and resulting decline of the stock. The revised Nominal catches declined from 63970 tonnes in 2003 to 5429 tonnes in 2009. The catch in 2010 was only 1233 tonnes to 10 October. Noting the lack of reports on catch this figure might increase although is very unlikely that the catches exceed the 3000 tonnes. The results from the ageing which is based on biological sampling showed a great number of five year olds per hour in 2007 proving the 2002 year-class to be very strong. However in 2008 and 2009 this year class was barely represented and it was residual in 2010. The female biomass from EU survey was variable though without trends at a relative high level from 1998 to 2007 but in 2008 the estimated biomass decreased to levels prior to 1998 and in 2009 it was between the lowest estimated in the EU survey series, confirming the decrease initiated in 2002. In 2010 although the female shrimp biomass increased 116% with respect to 2009, remain between the lowest in the historical series. This pessimistic picture confirms the decreasing trend on the female standardized CPUE from 2007. Indices of recruitment from the commercial fishery (age 2 in numbers per hor) are plotted against CPUE of 3+ two years later showing a significative relationship between them. The recruitment indices of both commercial fishery and EU survey show a very strong 2002 year-class followed by weak year-class since then. Considering the 15% of the maximum ...