EC Approval For Danish Cod Aid Scheme – Fishupdate.com

EC Approval For Danish Cod Aid Scheme Fishing Monthly Published:  04 July, 2003

THE European Commission has approved a Danish compensation scheme for vessel owners who were affected by a temporary ban on cod fishing in the Baltic over the period 15 April to 31 May 2003.

Denmark proposes to compensate the vessel owners affected by this temporary ban in accordance with the provisions in the EU Financial Instrument for Fisheries Guidance (FIFG). The compensation will be calculated on the basis of the value of the fish that could have been caught by those concerned during that period minus a percentage equivalent to operating costs and wages for the crews. Those receiving compensation cannot reclaim the equivalent fish quota for 2003. The maximum overall amount for this scheme has been fixed at 20 million DKK (around € 3 million). The contribution from the EU FIFG will amount to 50%. The Commission established the 15 April to 31 May 2003 ban after receiving evidence that large quantities of undersized cod were being caught in towed gears in the Baltic threatening the recovery of this stock. In effect, this represented an extension of the summer ban covering the period 1 June to 31 August which is one of the measures included in a 2001 cod recovery plan established within the framework of the International Baltic Sea Fisheries Commission (IBSFC). Last week, IBSFC held a meeting to examine ways of strengthening this recovery plan.