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What happens when groundfish stocks are rebuilt?

What happens when groundfish stocks are rebuilt?. Current Fleet. Approximately 1,500 permit holders Roughly 1,000 active permits Under Amendment 13, allowable days at sea would be between 28,000 and 41,000 in 2004, and could be further reduced beyond 2004. Future Fleet.

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What happens when groundfish stocks are rebuilt?

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  1. What happens when groundfish stocks are rebuilt?

  2. Current Fleet • Approximately 1,500 permit holders • Roughly 1,000 active permits • Under Amendment 13, allowable days at sea would be between 28,000 and 41,000 in 2004, and could be further reduced beyond 2004.

  3. Future Fleet • When stocks are rebuilt, perhaps 60,000 days can be used. • This translates into an average of 41 days per permitted vessel.

  4. How many vessels will $45 million buy? • The 1500 permits = 1500 small businesses each valued differently by owners • Bids for permit-only buyout ranged from $1400 to $11 million. 245 permits were sold for an average of $40K • The 1995 & 1998 buyouts spent $24.4 million for 79 vessels and 463 federal permits

  5. Priorities for the buyout • Seek active multispecies vessels? • Will a boat with only 10 multispecies DAS but actively working lobster have a lower value than boats with higher multispecies DAS? • Because the industry would be designing the program, can select for specific characteristics or values & choose the optimal size or structure of the fleet.

  6. Restructuring the Fleet • Smaller fleet would allow each vessel more fishing days • 300 active vessels could each fish 200 days per year. • 400 active vessels could each fish 150 days per year • 500 active vessels could each fish 120 days per year • 600 active vessels could each fish 100 days per year

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