Profitability major challenge for catchers, survey shows – Fishupdate.com

Profitability major challenge for catchers, survey shows Published:  10 April, 2007

SEAFISH has published the ‘2005 Economic Survey of the UK Fishing Fleet – Short Report’. This publication highlights the main results from the survey in an easily digestible format.

The 2005 fleet survey is the most recent nationwide costs, earnings and profits survey of the UK fish catching sector, and is a comprehensive update of the work carried out by Seafish economics in 2001. This new study presents the latest economic information on 24 segments of the commercial UK fishing fleet. The main findings include the following:

The total turnover (sales) of the UK fishing fleet was around £590m in 2005.

Expenditure on marine fuel was around £90m in 2005.

Average crew wages decreased significantly in most segments between 2001 and 2005.

Seafish estimates the total Gross Value Added (GVA) generated by the UK fishing fleet was around £305m in 2005.

Seafish Economist John Anderson said: “Our survey results suggest that although vessel earnings improved significantly across a number of fleet segments in comparison with previous years, rising operating costs – such as fuel and quota leasing costs combined with reduced fishing opportunities – meant that achieving profitability was still a major challenge for the majority of the UK fishing fleet in 2005.”

The short report can be downloaded from www.seafish.org/land/economics.asp