Half of all high seas fishing grounds would be unprofitable without current subsidies

Purse seine. Photo by NOAA.

Purse seine. Photo by NOAA.


As much as 54 per cent of the high seas fishing industry would be unprofitable at its current scale without large government subsidies, according to a new study by researchers from the National Geographic Society; the University of California, Santa Barbara; Global Fishing Watch; and the Sea Around Us project at the University of British Columbia and the University of Western Australia.

The research, published today in the open-access journal Science Advances, found that the global cost of fishing in the high seas ranged between $6.2 billion and $8 billion in 2014. Profits from this activity range between a loss of $364 million and a profit of $1.4 billion.

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Oceana event Philippines 2018

Renowned marine biologists talk about ocean conservation in the Philippines

Oceana event Philippines 2018

 

A group of marine biologists led by the world’s top fisheries scientist, Daniel Pauly, are calling for stronger action to conserve and protect fisheries resources in the Philippines.

Pauly is the Principal Investigator of the Sea Around Us at the University of British Columbia and a co-founder of FishBase.org. Together with his team, he produced global, multi-year analyses of fish catches, which have helped the public understand the sad plight of the oceans – particularly the fact that fish populations all over the world are plummeting.

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FishTracker

Shareholders in fishing companies at risk from fisheries over-exploitation: Research

FishTracker

 

Shareholders in the world’s major publically-listed fishing companies are exposed to risk from overfished fish stocks, with many of these stocks underperforming or at risk of collapse, a new study reveals.

The report, produced by the Fish Tracker Initiative in collaboration with the Sea Around Us, states that 32 per cent of the 97 stocks targeted by fishing giants such as South Korea’s Dongwon Industries and Silla Co., Norway’s Austevoll Seafood, and Canada’s Clearwater Seafoods are overfished.

“This is an important finding because it matches the global average. Globally, at least 31 per cent of fish stocks are overfished and we would have thought that large publicly listed fishing companies like the largest 19 identified here, whose combined annual revenues exceed $4 billion, as well as institutional investors would not be exposed to this, but they are,” says Tim Cashion, a scientist with the Sea Around Us who led the fisheries research in the report.

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