The EU fishing fleet 2020: Trends and economic results
The European Commission “Maritime Economic Papers” have released its 48 pages long economic report on the EU fishing fleet. We have gathered the highlights here:
“The EU large-scale fleet (LSF) comprised 14 047 vessels in 2018 and employed 61 000 fishers, respectively 24 % and 45 % of the EU total. This fleet contributed 79 % of total EU landings by weight and 70 % of the value of such landings. Overall, the performance of the EU fleet is largely driven by that of the LSF.”
Compared to 2017, the EU’s large scale fishing fleet experienced a decrease in all economic parameters ( see the table below), thus continuing the downward trend observed in 2017. However, different to 2017, all EU Member State LDFs made a gross profit in 2018.
The report point towards an increase in the depreciation costs, increased fuel prices, and a decrease in landed quantities as important causes of the lower profits.
The gross profit of the large scale fishing fleet has climbed 35 per cent since 2008 and overperformed the small scale coastal fishing fleet systematically. This is, according to the report, partly due to technological development in the vessels:
“Large scale fishing vessels are becoming larger and faster, and are travelling farther from their homeports. Their investment capacity is higher and they use more sophisticated (and expensive) technologies than the small scale coastal fishing vessels, catching more fish in shorter periods of time.”