The Nunavut government has commissioned its new high-tech fishery research ship, the MV Nuliajuk, to find out what commercially viable fish populations may exist along the territory's coastline.

The MV Nuliajuk, which was commissioned in Frobisher Bay on Monday, will set sail on Friday for Cumberland Sound. (CBC)

Federal government House leader Peter Van Loan and other dignitaries were on board the Nuliajuk in Iqaluit's harbour on Monday as Premier Eva Aariak broke a glass bottle of Perrier water on the hull of the 64-foot vessel.

The Nuliajuk comes with multiple types of fishing gear, a laboratory, and state-of-the-art navigational and mapping equipment.

"This vessel has been built to do what missions they have dedicated for it this summer and missions that they foresee in the future," said Ivan Oxford, the ship's captain.

The Nuliayuk's first job starts on Friday, when its crew will sail to Cumberland Sound to study ways to decrease the number of Greenland shark that are caught accidentally by turbot fishermen.

More research needed: minister

Nunavut's offshore fishery catches about $80 million worth of turbot and shrimp every year.

The territorial government now wants to find out what fish species live closer to shore, in the hopes of making it easier for local fishermen in small boats to make a living.

"We absolutely need more research done on our fishing industry. It's growing and prosperous and it's going to provide economic stability to communities right across Nunavut," said Daniel Shewchuk, Nunavut's environment minister.

Built in a shipyard in Glovertown, N.L., the Nuliajuk cost $3.2 million and was partly funded by the federal government.

"We hope that it will help us in developing the kind of scientific basis and information we need to support all our sovereignty claims in the future," Van Loan said.

The MV Nuliajuk has a full-time crew of four, along with one Inuk trainee.