Review of the techno-economic performance of the main global fishing fleets


Book Description

This review of the techno-economic performance of the main global fishing fleets discusses the outcomes from 20 country-level studies of fishing fleets from Africa, Asia, Europe, North and South America. It includes financial, socio-economic and technical information from 103 major (semi-) industrial fishing fleet segments, which are responsible for an estimated 39 percent of marine capture fisheries production worldwide. The analysis of vessel characteristics reveals substantial differences in fishing capacity (in terms of vessel length, tonnage and power) between fleet segments. An increase in the gross tonnage of average vessels was observed in fleet segments also covered in previous reviews. Substantial increases in average length overall and engine power were observed in several Asian fishing fleets. The age structure of the fishing fleets in most regions, except Asia, shows an upward trend. An analysis of the costs and earnings data showed that labour and running costs were the two main cost components for the majority of fleet segments. Ninety-two percent of 97 fleet segments reported a positive net cash flow in the year they were surveyed, in the 2016–2019 period. Net profit margins of 10 percent or more were realized by average fishing vessels in 73 percent of the fleet segments. Returns on investment (ROIs) of 10 percent or higher were realized by 61 percent of the fleet segments. The review also discusses developments in fishing technologies. These developments, along with a general increase in seafood prices, successful fisheries management in some areas, and improved fleet capacity management in Europe and North America, have all contributed to the ongoing, positive financial and economic performance of the main global fishing fleets in recent years.




Review of the Techno-economic Performances of the Main Global Fishing Fleets


Book Description

This review of the techno-economic performance of the main global fishing fleets discusses the outcomes from 20 country-level studies of fishing fleets from Africa, Asia, Europe, North and South America. It includes financial, socio-economic and technical information from 103 major (semi-) industrial fishing fleet segments, which are responsible for an estimated 39 percent of marine capture fisheries production worldwide. The analysis of vessel characteristics reveals substantial differences in fishing capacity (in terms of vessel length, tonnage and power) between fleet segments. An increase in the gross tonnage of average vessels was observed in fleet segments also covered in previous reviews. Substantial increases in average length overall and engine power were observed in several Asian fishing fleets. The age structure of the fishing fleets in most regions, except Asia, shows an upward trend. An analysis of the costs and earnings data showed that labour and running costs were the two main cost components for the majority of fleet segments. Ninety-two percent of 97 fleet segments reported a positive net cash flow in the year they were surveyed, in the 2016-2019 period. Net profit margins of 10 percent or more were realized by average fishing vessels in 73 percent of the fleet segments. Returns on investment (ROIs) of 10 percent or higher were realized by 61 percent of the fleet segments. The review also discusses developments in fishing technologies. These developments, along with a general increase in seafood prices, successful fisheries management in some areas, and improved fleet capacity management in Europe and North America, have all contributed to the ongoing, positive financial and economic performance of the main global fishing fleets in recent years.




Techno-economic performance review of selected fishing fleets in Asia


Book Description

This techno-economic performance review of selected fishing fleets in Asia presents the findings of six country level studies of fishing fleets in Bangladesh, China, India, Indonesia, Japan and the Republic of Korea. The review includes financial and economic information of 27 major fishing fleet segments, including trawlers, gillnetters, long liners, jiggers, purse seiners, as well as pole and line fishing vessels. An analysis of the costs and earnings data of these important fishing fleet segments in Asia was carried out using national statistics of 2017 for the Japanese and the Korean fleet segments and 2018-19 survey data for the other countries. Eighty-nine percent of the 27 fishing fleet segments reported positive net cash flows. Seventy percent of the fishing fleets realized net profit margins of more than 10 percent. Eighty-one percent of the fishing fleets reported positive results in terms of their capital productivity, as theirs returns on fixed tangible assets (ROFTAs) were positive.The review shows that investments in fishing vessels and fishing operations of these major Asian fishing fleets are generally profitable. Marine capture fishing is a financially viable economic activity in all six major fishing nations included in the review. It generates enough income to cover depreciation costs, interest and loan repayments, and provides sufficient financial resources for reinvestment. Nearly 60 percent of the fishing fleets generated returns on investment (ROIs) of 15 percent and higher, which signals an attractive sector for investments. The total gross value added (GVA) of the 27 fishing fleets to the Asian regional economy was substantial and estimated at around USD 66 billion. The review also reveals a need for adequate management measures, including fleet capacity management plans, to improve the status of fish stock in the region and maintain a healthy and profitable fishing sector.




Techno-economic performance review of selected fishing fleets in North and South America


Book Description

This techno-economic performance review of selected fishing fleets in North and South America presents the findings of four country level studies of fishing fleets in the United States of America, Brazil, Chile and Peru. The review includes financial and economic information of 21 fishing fleet segments, including shrimp and groundfish trawlers, demersal trawlers, longliners, purse seiners, dredgers as well as hook and line fishing vessels. Analysis of the costs and earnings data of these important fishing fleet segments in North and South America, using survey data from 2012 -2017 for the US fleet segments and 2018 data for the South American countries’ fleets showed that 81 percent of the fleet segments had a positive net cash flow. The net profit margins of 38 percent of the 21 fishing fleet segments were >10%. Two-thirds (67%) of the fleet segments presented positive results in terms of their capital productivity as the return on fixed tangible assets (ROFTA) was positive. Twenty four percent of the fleet segments showed return on investment (ROI) figures of twenty percent or more. A majority of the Chilean and Peruvian fleet segments had ROIs of ten percent or higher in 2018. The financial and economic performance of the fishing fleet segments is not only affected by the seafood prices, but also by the fisheries management regime in place, fish species targeted, fish stock status and fishing methods and technologies applied. The age structure of the fishing vessels shows an increasing trend for most of the fishing fleet segments in this review, which adds to the apparent profitability of the vessels in these fleet segments as depreciation and interests on loans are minimized.




Techno-economic performance review of selected fishing fleets in Europe


Book Description

This techno-economic performance review of selected fishing fleets in Europe presents the findings of European country level studies of fishing fleets of Denmark, France, Germany, Italy, Norway, Spain, Turkey and the United Kingdom of Great Britain and Northern Ireland. The review includes financial and economic information of 42 fishing fleet segments, including demersal trawlers, purse seiners, pelagic trawlers, long-liners, coastal fishing vessels using passive gears, pots and traps fishing vessels and small-scale hand-liners. Analysis of the costs and earnings data of 42 of the main fishing fleet segments in Europe in 2016 showed that all types of vessels had a positive gross cash flow. The average net profit margin of the 41 fishing fleet segments analysed was very good with 20 percent. Eighty-five percent of the fleet segments presented positive return on fixed tangible assets (ROFTAs) of 10 percent and higher. However, 38 percent of the fleet segments demonstrated return on investment (ROI) percentages lower than 10 percent. Comparing the 2016 financial and economic performance results with those of some of the same fleet segments included in the 2002-03 review study, it is clear that general fishing fleet performance in Europe improved. All eight countries together saw a decrease in the number of fishing vessels between 2008 and 2016 of 10 percent, from nearly 60 000 to less than 54 000 vessels. Each of the countries also saw a reduction in total fleet capacity in gross tonnage (GT) and kilowatts (kW). The vessel age structure showed an increasing trend for most of the fishing fleet segments.




The State of World Fisheries and Aquaculture 2022


Book Description

The 2022 edition of The State of World Fisheries and Aquaculture coincides with the launch of the Decade of Action to deliver the Global Goals, the United Nations Decade of Ocean Science for Sustainable Development and the United Nations Decade on Ecosystem Restoration. It presents how these and other equally important United Nations events, such as the International Year of Artisanal Fisheries and Aquaculture (IYAFA 2022), are being integrated and supported through Blue Transformation, a priority area of FAO’s new Strategic Framework 2022–2031 designed to accelerate achievement of the 2030 Agenda for Sustainable Development in food and agriculture. The concept of Blue Transformation emerged from the Thirty-fourth Session of the FAO Committee on Fisheries in February 2021, and in particular the Declaration for Sustainable Fisheries and Aquaculture, which was negotiated and endorsed by all FAO Members. The Declaration calls for support for “an evolving and positive vision for fisheries and aquaculture in the twenty first century, where the sector is fully recognized for its contribution to fighting poverty, hunger and malnutrition.” In this context, Part 1 of this edition of The State of World Fisheries and Aquaculture reviews the world status of fisheries and aquaculture, while Parts 2 and 3 are devoted to Blue Transformation and its pillars on intensifying and expanding aquaculture, improving fisheries management and innovating fisheries and aquaculture value chains. Blue Transformation emphasizes the need for forward-looking and bold actions to be launched or accelerated in coming years to achieve the objectives of the Declaration and in support of the 2030 Agenda. Part 4 covers current and high-impact emerging issues – COVID-19, climate change and gender equality – that require thorough consideration for transformative steps and preparedness to secure sustainable, efficient and equitable fisheries and aquaculture, and finally draws some outlook on future trends based on projections. The State of World Fisheries and Aquaculture aims to provide objective, reliable and up-to-date information to a wide audience – policymakers, managers, scientists, stakeholders and indeed everyone interested in the fisheries and aquaculture sector.




FAO publications catalogue 2021


Book Description

This catalogue aims to improve the dissemination and outreach of FAO’s knowledge products and overall publishing programme. By providing information on its key publications in every area of FAO’s work, and catering to a range of audiences, it thereby contributes to all organizational outcomes. From statistical analysis to specialized manuals to children’s books, FAO publications cater to a diverse range of audiences. This catalogue presents a selection of FAO’s main publications, produced in 2021 or earlier, ranging from its global reports and general interest publications to numerous specialized titles. In addition to the major themes of agriculture, forestry and fisheries, it also includes thematic sections on climate change, economic and social development, and food safety and nutrition.




The State of World Fisheries and Aquaculture 2024


Book Description

The 2024 edition of The State of World Fisheries and Aquaculture features the Blue Transformation in action, illustrated by activities and initiatives, led by FAO in collaboration with Members, partners and key stakeholders, to integrate aquatic foods into global food security and sustainability, enhance policy advocacy, scientific research and capacity building, disseminate sustainable practices and technological innovations, and support community involvement. Part 1 of this edition of The State of World Fisheries and Aquaculture benefits from significant improvements in data collection, analytical and assessment tools and methodologies to present the most up-to-date review of world fisheries and aquaculture production and utilization. Part 2 highlights the role of FAO and its partners to catalyse the transformational changes required to support aquaculture expansion and intensification, effective management of global fisheries and upgrading of aquatic value chains. Part 3 covers the high-impact challenges and opportunities of the untapped potential of utilizing whole fish and by-products to improve food security and nutrition, expounds on the role of aquatic food systems in providing critical climate, biodiversity and environmentally sound solutions, and highlights the importance of their integration into national and multilateral processes. It also presents an outlook on future trends up to 2032 based on projections. The State of World Fisheries and Aquaculture 2024 provides the most up-to-date and evidence-based information, supporting policy, scientific and technical insights on challenges, opportunities and innovations shaping the present and future of the sector, for the benefit of a wide and expanding audience of policymakers, managers, scientists, fishers, farmers, traders, civil society activists and consumers.




Assessment of the sustainability of fishing technologies and operations in Thailand: Options for innovation


Book Description

To make small-scale fisheries in Thailand more sustainable, fishers need to invest in responsible fishing operations and technologies, reduce overfishing, contribute to fisheries management, and implement climate change adaptation measures. The Southeast Asian Fisheries Development Center and FAO carried out an assessment of the sustainability of currently used fishing technologies and operations in Thailand, to identify options for innovation and improvements. This circular provides information on the current technological status of the Thai fishing fleets, the costs of fishing operations, the management of the main fisheries, and on the status of the main marine fisheries resources targeted by the various fishing fleets. Options for introducing technological innovations for fishing vessels include the reconfiguration of the hull by installing a bulbous bow, stabilizing fins, duct propellors and wave resistance reduction measures. On-board equipment innovations identified include hydraulic hauling systems, power blocks, refrigeration systems, fuel flow monitoring systems, solar panels, and LED lights. To improve safety, vessel owners are recommended to provide lifesaving equipment, radio communications and firefighting equipment, first aid kits, cooking and sanitation facilities, emergency stops on winches and hauling devices, lightning conductors, and distress signal devices. Fishing gear innovations such as circle hooks, low-resistance gears, turtle excluder devices, juvenile and trash excluder devices, and fish aggregating devices are also important innovations for fishing vessel owners to consider.This circular gives fishing vessel owners and financial service providers in Thailand insights in the innovations available, to make better informed fisheries investment decisions.




World review of capture fisheries and aquaculture insurance 2022


Book Description

This world review of capture fisheries and aquaculture insurance presents the findings of five regional and four national reports conducted in 2020. An estimated 450 000 fishing vessels worldwide are covered by marine hull insurance. Nearly all of the estimated 67 800 large-scale industrial fishing vessels are covered by marine hull insurance, as well as 50–60 percent of the estimated 430 000 semi-industrial fishing vessels. However, over 95 percent of the 2.3 million motorized small-scale fishing vessels operate uninsured. Most small-scale fishers do not have access to adequate insurance services. Between 2009 and 2019, underwriting experiences in fishing vessel insurance were generally reported as “Good”. What is more, access to accident, life and health insurance services for crew on fishing vessels and small-scale fishers in developing countries has improved in recent years. In 2020, the number of aquaculture insurance policies in force was estimated at over 40 000 worldwide, with China and Indonesia the largest markets for this type of insurance. While large-scale aquaculture producers are well served by the insurance industry, the provision of insurance is inadequate for mediumand small-scale farmers, particularly in Asia. Underwriting experiences for aquaculture stock mortality insurance were reported as “Good” to “Very good” (40 percent), or “Neutral” (36 percent). The insurance industry has consolidated the market and increased profitability in aquaculture insurance. This world review contains information on the capture fisheries and aquaculture insurance market, the prevailing underwriting practices, perils covered, policies in force, risk management and claim handling procedures. Finally, it offers a series of recommendations for increasing insurance service provision to the fisheries and aquaculture industries.