The Annual Economic Survey of Federal Gulf Shrimp Permit Holders: Report on the Design, Implementation, and Descriptive Results for 2006

This technical memorandum documents the design, implementation, data preparation, and descriptive results for the 2006 Annual Economic Survey of Federal Gulf Shrimp Permit Holders. The data collection was designed by the NOAA Fisheries Southeast Fisheries Science Center Social Science Research Group to track the financial and economic status and performance by vessels holding a federal moratorium permit for harvesting shrimp in the Gulf of Mexico. A two page, self-administered mail survey collected total annual costs broken out into seven categories and auxiliary economic data. In May 2007, 580 vessels were randomly selected, stratified by state, from a preliminary population of 1,709 vessels with federal permits to shrimp in offshore waters of the Gulf of Mexico. The survey was implemented during the rest of 2007. After many reminder and verification phone calls, 509 surveys were deemed complete, for an ineligibility-adjusted response rate of 90.7%. The linking of each individual vessel’s cost data to its revenue data from a different data collection was imperfect, and hence the final number of observations used in the analyses is 484. Based on various measures and tests of validity throughout the technical memorandum, the quality of the data is high. The results are presented in a standardized table format, linking vessel characteristics and operations to simple balance sheet, cash flow, and income statements. In the text, results are discussed for the total fleet, the Gulf shrimp fleet, the active Gulf shrimp fleet, and the inactive Gulf shrimp fleet. Additional results for shrimp vessels grouped by state, by vessel characteristics, by landings volume, and by ownership structure are available in the appendices. The general conclusion of this report is that the financial and economic situation is bleak for the average vessels in most of the categories that were evaluated. With few exceptions, cash flow for the average vessel is positive while the net revenue from operations and the “profit” are negative. With negative net revenue from operations, the economic return for average shrimp vessels is less than zero. Only with the help of government payments does the average owner just about break even. In the short-term, this will discourage any new investments in the industry. The financial situation in 2006, especially if it endures over multiple years, also is economically unsustainable for the average established business. Vessels in the active and inactive Gulf shrimp fleet are, on average, 69 feet long, weigh 105 gross tons, are powered by 505 hp motor(s), and are 23 years old. Three-quarters of the vessels have steel hulls and 59% use a freezer for refrigeration. The average market value of these vessels was $175,149 in 2006, about a hundred-thousand dollars less than the average original purchase price. The outstanding loans averaged $91,955, leading to an average owner equity of $83,194. Based on the sample, 85% of the federally permitted Gulf shrimp fleet was actively shrimping in 2006. Of these 386 active Gulf shrimp vessels, just under half (46%) were owner-operated. On average, these vessels burned 52,931 gallons of fuel, landed 101,268 pounds of shrimp, and received $2.47 per pound of shrimp. Non-shrimp landings added less than 1% to cash flow, indicating that the federal Gulf shrimp fishery is very specialized. The average total cash outflow was $243,415 of which $108,775 was due to fuel expenses alone. The expenses for hired crew and captains were on average $54,866 which indicates the importance of the industry as a source of wage income. The resulting average net cash flow is $16,225 but has a large standard deviation. For the population of active Gulf shrimp vessels we can state with 95% certainty that the average net cash flow was between $9,500 and $23,000 in 2006. The median net cash flow was $11,843. Based on the income statement for active Gulf shrimp vessels, the average fixed costs accounted for just under a quarter of operating expenses (23.1%), labor costs for just over a quarter (25.3%), and the non-labor variable costs for just over half (51.6%). The fuel costs alone accounted for 42.9% of total operating expenses in 2006. It should be noted that the labor cost category in the income statement includes both the actual cash payments to hired labor and an estimate of the opportunity cost of owner-operators’ time spent as captain. The average labor contribution (as captain) of an owner-operator is estimated at about $19,800. The average net revenue from operations is negative $7,429, and is statistically different and less than zero in spite of a large standard deviation. The economic return to Gulf shrimping is negative 4%. Including non-operating activities, foremost an average government payment of $13,662, leads to an average loss before taxes of $907 for the vessel owners. The confidence interval of this value straddles zero, so we cannot reject, with 95% certainty, that the population average is zero. The average inactive Gulf shrimp vessel is generally of a smaller scale than the average active vessel. Inactive vessels are physically smaller, are valued much lower, and are less dependent on loans. Fixed costs account for nearly three quarters of the total operating expenses of $11,926, and only 6% of these vessels have hull insurance. With an average net cash flow of negative $7,537, the inactive Gulf shrimp fleet has a major liquidity problem. On average, net revenue from operations is negative $11,396, which amounts to a negative 15% economic return, and owners lose $9,381 on their vessels before taxes. To sustain such losses and especially to survive the negative cash flow, many of the owners must be subsidizing their shrimp vessels with the help of other income or wealth sources or are drawing down their equity. Active Gulf shrimp vessels in all states but Texas exhibited negative returns. The Alabama and Mississippi fleets have the highest assets (vessel values), on average, yet they generate zero cash flow and negative $32,224 net revenue from operations. Due to their high (loan) leverage ratio the negative 11% economic return is amplified into a negative 21% return on equity. In contrast, for Texas vessels, which actually have the highest leverage ratio among the states, a 1% economic return is amplified into a 13% return on equity. From a financial perspective, the average Florida and Louisiana vessels conform roughly to the overall average of the active Gulf shrimp fleet. It should be noted that these results are averages and hence hide the variation that clearly exists within all fleets and all categories. Although the financial situation for the average vessel is bleak, some vessels are profitable. (PDF contains 101 pages)

Southern California Baseline Studies and Analysis: 1975-1978. Master Table of Contents

This is only the table of contents for a series of technical reports done from 1975-1978. The papers were done on contract for BLM by a number of universities and consulting firms such as Science Applications, Inc., University of Southern California, Scripps Institute of Oceanography, Moss Landing Marine Laboratories, and various campuses of University of California and California State University. (PDF contains 36 pages)

Tests of some specific effect substances in duck nutrition. Translation from: Biologisace a chemisaze vyzivy svirat 5, 43-48, 1969.]

There is a constantly increasing collection of manufactured substances, whose effectiveness in the sustenance of ducks is under investigation. The author examines the effects of some substances already previously tested and also there were examined substances which had not hitherto been studied. The use of different supplements for late autumn fattening is studied through various experiments.

The dynamics of the fecundity of fishes, for example the roach, Rutilus rutilus (L.). [conclusions and figure/table captions only] [Translation from: Voprosy Ikhtiologii 3(1) 67-83, 1963]

The dynamics of the fecundity of roach, with emphasis on Rutilus rutilus (L.), were studied in waters in the European parts of the USSR. This translation provides conclusions, and figures and table captions only.

A study of the reproductive biology of dace in the middle Ob [introduction , summary and table captions only] [Translation from: Trudy tomsk. gos. Univ. 125, pp.77-91]

The Siberian Dace (Leuciscus leuciscus baicalensis (Dyb)is an important trade fish in Siberian waters. In the Ob basin more than 30,000 centners are produced annually. Catches of dace fluctuate significantly both between different rivers and between years in the Tomsk region. Defining the stocks of dace in the waters of the Tomsk region and explaining the fluctuations over time seems to be a very important and relevant question for the workers of the fishing industry. An answer, however, requires an accurate knowledge of the biology of dace; its reproductive, feeding and migration habits and the conditions of wintering etc. In the following we examine one of the above questions i.e. the biology of the reproduction of dace. The study was carried out in the Middle Ob in May 1951. This tranlations provides the introduction, summary and table captions only of the original article.

Changes in physical and chemical variables

An article reviewing the work undertaken looking at the seasonal variation of chemical conditions in water at various depths in lakes. The laboratory tests undertaken for the research is outlined, as well as details of the sampling locations and the staff involved with the work. One figure shows the seasonal variation in the amounts of dissolved substances in the surface water of Windermere during 1936. Another figure shows seasonal varation inthe dry weight of phyto- and zooplankton in Windermere. Seasonal changes are discussed further and a table is included showing chemical conditions in winter and summer for Windermere.

From drawing board to dining table: the success story of the GIFT project

As compared to crops and livestock, the genetic enhancement of fish is in its infancy. While significant progress has been achieved in the genetic improvement of temperate fish such as salmonids, no efforts were made until the late 1980s for the genetic improvement of tropical finfish, which account for about 90 percent of global aquaculture production. This paper traces the history of the Genetic Improvement of Farmed Tilapia (GIFT) project initiated in 1988 by the WorldFish Center and its partners for the development of methods for genetic enhancement of tropical finfish using Nile tilapia (Oreochromis niloticus) as a test species. It also describes the impacts of the project on the adoption of these methods for other species and the dissemination of improved breeds in several countries in Asia and the Pacific.

Holocene climate and El Nino history as recorded in the sediments of northern coastal Peru [abstract, table, and references]

EXTRACT (SEE PDF FOR FULL ABSTRACT): The history of the El Nino phenomena is recorded in both the fluvial and coastal sediments of northern Peru. The fluvial record was presented at the 1987 PACLIM Workshop and is discussed in detail elsewhere (Wells, 1987). However, the number of radiocarbon dated El Nino events has increased since Wells (1987) was published; this data is presented in Table 1.

Meteorological influences on North America quail populations [abstract, table, and figure]

EXTRACT (SEE PDF FOR FULL ABSTRACT): Comparative study of environmental influences on the population dynamics of three North American species of quail, California quail (Callipepla california), Gambel's quail (C. gambellii), and scaled quail (C. squamata) has lead to identification of differential sensitivity of these species to global weather patterns.

Evaluation of chemical tests for the quality of prawns

The object of this study was to determine the value of physical, bacteriological and chemical tests used to find out and compare the indices of quality of prawns stored at 0°C and at 18°C. pH value, nature of drip, the total bacterial count, presence or absence of tryptophan, trimethylamine content, glycogen, lactic acid, vitamins such as thiamin, riboflavin and niacin were estimated periodically to evaluate the quality of prawns stored at 0°C, whereas in addition to organoleptic changes, pH, bacterial count, nature of growth in peptone water, soluble protein in salt solution and loss of moisture, glycogen, lactic acid, and changes in vitamin B contents were noted periodically for prawns stored at -l8°C. Riboflavin and niacin were not affected appreciably but the retention of thiamin in prawns was very low.