Book Description

The herring purse seine fleet is relatively new in Atlantic Canada, having its first commercial spurt as a distinct fishery during World War II. However, it has been subject to recurring boom and crisis brought about the variations in markets, herring stocks and quality. In 1983, the price paid for herring and the allowable catch were such that purse seiners were sustaining losses and the outlook was poor. A 10-year program was undertaken in which each purse seine licence holder was given a quasi-property right in a share of the allowable catch, which could be sold with the seller keeping the monetary reward. The buyer could accumulate extra quota which promised a greater measure of profitability. The fishery of 1988 marked the 5th season of the program. This study was undertaken to appraise the response of the fishery in an atmosphere of limited entry with transferable quotas, to what extent the objectives of the program were being achieved, and to clarify the determinants of the developments in the fleet.