Role of the state and financial institutions in financing the fishing industry

The experience of the Government in the recovery of loans for 28 foot mechanized vessels has been unsatisfactory. The author examines the various aspects which have contributed to this situation, and considers arrangements for financing purchase of such vessels. The risks associated with the investment in 38 foot vessels are high, and it seems that the reluctance of private investors to make the required contribution from personal funds is a result of fear of the unknown. Current incentives provided by the Government to the private sector for the purchase of 38 foot vessels are considered to be adequate.

Enhancing Seed Availability For the Hard Clam (Mercenaria mercenaria) Aquaculture Industry By Applying Remote Setting Techniques

The goal of this study was to test a technology that may help ensure a reliable and consistent supply of high quality and inexpensive clam seed to growers, thus fostering an emerging aquaculture industry by eliminating a seed shortage that limits sustainability. The overall objectives were to develop, test and demonstrate technical procedures and determine the financial feasibility of transferring remote setting technology from the Pacific Northwest molluscan shellfish industry to the hard clam aquaculture industry in Florida. (PDF has 44 pages.)

An economic overview of the fish and shrimp production of the Nigeria fish trawling industry under the structural adjustment programme

Over the years, Nigeria have witnessed different government with different policy measures. Against the negative consequences of the past policies, the structural adjustment was initiated in 1986. Its aims is to effectively altar and restructure the consumption patterns of the economy as well as to eliminate price distortions and heavy dependence on the oil and the imports of consumer goods and services. Within the period of implementation, there has been a decreasing trend in yearly fish catch landings and sizes but the reverse in shrimping. There is also a gradual shift from fishing to shrimping, from the vessels purchased with 83.3% increase of shrimpers from 1985 to 1989. Decreasing fish catch sizes and quantity aggravated by the present high cost of fishing coupled with the favourable export market for Nigeria shrimp tend to influence the sift. This economic situation is the result of the supply measures of SAP through the devaluation of the Naira. There is also overconcentration of vessels on the inshore waters as majority of the vessels are old and low powers hence incapable of fishing on the deep sea. Rotterdam price being paid for automotive gas oil (AGO) by fishing industries is observed to be discriminating and unhealthy to the growth of the industry as it is exceedingly high and unstable thus affecting planning for fishing operation. Fuel alone takes 43% of the total cost of operation. The overall consequences is that fishing days are loss and therefore higher overhead cost. It was concluded that for a healthy growth and sustainable resources of our marine fishery under the structural adjustment programme licensing of new fishing vessels should be stopped immediately and the demand side of SAP should be employed by subsidizing high powered fishing vessels which can operate effectively on the deep sea

Government-Industry Cooperative Fisheries Research in the North Pacific under the MSFCMA

The National Marine Fisheries Service’s Alaska Fisheries Science Center (AFSC) has a long and successful history of conducting research in cooperation with the fishing industry. Many of the AFSC’s annual resource assessment surveys are carried out aboard chartered commercial vessels and the skill and experience of captains and crew are integral to the success of this work. Fishing companies have been contracted to provide vessels and expertise for many different types of research, including testing and evaluation of survey and commercial fishing gear and development of improved methods for estimating commercial catch quantity and composition. AFSC scientists have also participated in a number of industry-initiated research projects including development of selective fishing gears for bycatch reduction and evaluating and improving observer catch composition sampling. In this paper, we describe the legal and regulatory provisions for these types of cooperative work and present examples to illustrate the process and identify the requirements for successful cooperative research.

Private sector to invest in off-shore fishing and to encourage the financial incentives to be introduced for deep-sea fishing in Sri Lanka

The author discusses the financial aspects of private sector investment in off-shore fishing, with particular attention to tax incentives, such as those offered to tourist hotels, which are considered applicable to the current case of fishing vessel purchase, and the operation of the vessels themselves, hiring, publicity and profitability. Tax incentives which were introduced to encourage investment in the tourist industry should be introduced to encourage investment in the fishing industry on the lines presented. It is essential that wide publicity be given for the incentives introduced so as to achieve the desired results.