SW Beam Trawl Financial Performance_2005 Mid Year Review

Summary

In recent years structural changes have taken place in the beam trawl fishing segment, leaving fewer beam trawl vessels in operation. �� Gross earnings are expected to be better this year than in 2004 due to higher quotas of key species, increasing awareness of quality issues and stable fish prices. �� Net profits are expected to be lower than 2004, mainly due to the large increase in the cost of fuel over the last 12 months. �� Fuel costs are seen as the main problem in this segment, and could potentially lead to vessel tie-ups. �� Key issues include calls for higher quota of monkfish, megrim, and area VII sole, and the removal of effort restrictions on non-pressure stocks.

Author

• Seafish Economics

Publication date

01 July 2005