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.)

Marine cage culture and the environment: twenty-first century science informing a sustainable industry

Technological innovation has made it possible to grow marine finfish in the coastal and open ocean. Along with this opportunity comes environmental risk. As a federal agency charged with stewardship of the nation’s marine resources, the National Oceanic and Atmospheric Administration (NOAA) requires tools to evaluate the benefits and risks that aquaculture poses in the marine environment, to implement policies and regulations which safeguard our marine and coastal ecosystems, and to inform production designs and operational procedures compatible with marine stewardship. There is an opportunity to apply the best available science and globally proven best management practices to regulate and guide a sustainable United States (U.S.) marine finfish farming aquaculture industry. There are strong economic incentives to develop this industry, and doing so in an environmentally responsible way is possible if stakeholders, the public and regulatory agencies have a clear understanding of the relative risks to the environment and the feasible solutions to minimize, manage or eliminate those risks. This report spans many of the environmental challenges that marine finfish aquaculture faces. We believe that it will serve as a useful tool to those interested in and responsible for the industry and safeguarding the health, productivity and resilience of our marine ecosystems. This report aims to provide a comprehensive review of some predominant environmental risks that marine fish cage culture aquaculture, as it is currently conducted, poses in the marine environment and designs and practices now in use to address these environmental risks in the U.S. and elsewhere. Today’s finfish aquaculture industry has learned, adapted and improved to lessen or eliminate impacts to the marine habitats in which it operates. What progress has been made? What has been learned? How have practices changed and what are the results in terms of water quality, benthic, and other environmental effects? To answer these questions we conducted a critical review of the large body of scientific work published since 2000 on the environmental impacts of marine finfish aquaculture around the world. Our report includes results, findings and recommendations from over 420 papers, primarily from peer-reviewed professional journals. This report provides a broad overview of the twenty-first century marine finfish aquaculture industry, with a targeted focus on potential impacts to water quality, sediment chemistry, benthic communities, marine life and sensitive habitats. Other environmental issues including fish health, genetic issues, and feed formulation were beyond the scope of this report and are being addressed in other initiatives and reports. Also absent is detailed information about complex computer simulations that are used to model discharge, assimilation and accumulation of nutrient waste from farms. These tools are instrumental for siting and managing farms, and a comparative analysis of these models is underway by NOAA.

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.