Community-based Sectors for the New England Groundfish Fishery

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Table 3b: Port Clyde Sector Revenues and Gains Over Non Sector Management Based on FY96-01 Allocation Fishing Year Total Revenue tax (5%) Interest + Mgmt fees Outstanding Loan or (Assets) Sector Revenue Gain (vs. no sector) % Gain Sector Net Rev Gain 2008 $ 2,327,858 $ 116,393 $ 82,500 $ 100,000 $ 885,752 67% $ 504,937 2009 $ 1,945,545 $ 97,277 $ 79,958 $ 66,107 $ 710,499 62% $ 403,544 2010 $ 1,897,126 $ 94,856 $ 78,659 $ 48,788 $ 657,324 57% $ 371,496 2011 $ 1,867,019 $ 93,351 $ 77,444 $ 32,591 $ 617,083 53% $ 347,118 2012 $ 1,853,867 $ 92,693 $ 76,251 $ 16,684 $ 588,233 50% $ 329,481 2013 $ 1,853,678 $ 92,684 $ 75,018 $ 242 $ 569,716 48% $ 318,004 2014 $ 1,710,644 $ 85,532 $ 73,693 $ (17,424) $ 514,422 46% $ 286,440 2015 $ 1,714,545 $ 85,727 $ 72,805 $ (29,263) $ 508,898 45% $ 282,940 2016 $ 1,724,433 $ 86,222 $ 71,836 $ (42,185) $ 508,013 45% $ 282,204 2017 $ 1,733,732 $ 86,687 $ 70,757 $ (56,570) $ 508,356 45% $ 282,240 2018 $ 1,748,466 $ 87,423 $ 69,563 $ (72,500) $ 510,375 44% $ 283,212 2019 $ 1,761,293 $ 88,065 $ 68,223 $ (90,360) $ 512,287 44% $ 284,153 2020 $ 1,773,226 $ 88,661 $ 66,735 $ (110,202) $ 514,240 44% $ 285,138 2021 $ 1,784,646 $ 89,232 $ 65,090 $ (132,129) $ 516,290 44% $ 286,191 2022 $ 1,796,297 $ 89,815 $ 63,280 $ (156,271) $ 518,677 44% $ 287,450 2023 $ 1,806,821 $ 90,341 $ 61,290 $ (182,806) $ 520,764 44% $ 288,544 2024 $ 1,816,038 $ 90,802 $ 59,111 $ (211,857) $ 522,957 43% $ 289,729 2025 $ 1,826,499 $ 91,325 $ 56,734 $ (243,548) $ 525,151 43% $ 290,890 2026 $ 1,836,155 $ 91,808 $ 54,140 $ (278,139) $ 527,105 43% $ 291,918 2027 $ 1,864,323 $ 93,216 $ 51,314 $ (315,808) $ 534,137 43% $ 295,743 2028 $ 1,870,897 $ 93,545 $ 48,172 $ (357,709) $ 535,455 43% $ 296,435 2029 $ 1,878,616 $ 93,931 $ 44,769 $ (403,082) $ 537,111 43% $ 297,315 2030 $ 1,885,887 $ 94,294 $ 41,082 $ (452,244) $ 538,629 43% $ 298,118 2031 $ 1,893,707 $ 94,685 $ 37,091 $ (505,457) $ 540,241 43% $ 298,969 2032 $ 1,901,565 $ 95,078 $ 32,771 $ (563,052) $ 541,966 43% $ 299,889 2033 $ 1,909,250 $ 95,462 $ 28,098 $ (625,359) $ 543,610 43% $ 300,763 2034 $ 1,917,265 $ 95,863 $ 23,046 $ (692,723) $ 545,323 43% $ 301,672 2035 $ 1,924,766 $ 96,238 $ 17,584 $ (765,541) $ 546,829 43% $ 302,463 2036 $ 1,932,996 $ 96,650 $ 11,685 $ (844,195) $ 548,643 43% $ 303,432 2037 $ 1,940,250 $ 97,012 $ 5,313 $ (929,159) $ 550,020 43% $ 304,148 The projected gains for the sector are based solely on the ability of the sector to land a higher percentage of the target TACs than it is currently catching. The ability to do this would be a consequence of exemptions from DAS restrictions, rolling closures and trip limits. The sector may achieve additional gains beyond what is calculated here through higher prices if they are able to improve quality or make direct marketing arrangements. They may also achieve gains by reducing fixed costs through consolidation and by having the most efficient boats in the sector harvest its allocation. The analysis presented here implicitly assumes the same vessels are used to harvest the fish with or without sector management. Under sector management, it would be possible to consolidate fishing operations on fewer platforms if the sector desired. This would be expected to reduce fixed costs which would provide an additional boost in profitability. Although the projections are shown through the year 2037, the relative gains of sector vs. nonsector management are unlikely to continue as projected. Major changes in management of the fishery, including ITQs, are being considered which will presumably increase profitability of nonsector vessels and erode the relative benefits of sector to non-sector management. TAC projections are also highly uncertain in future years as actual TACs will be heavily dependent on 22
ecruitment and could be either higher or lower. Nevertheless, the analysis suggests that the gains from sector management are sufficiently large to justify the difficulty and cost of establishing a sector even if the gains are only realized for a few years. Another way to evaluate the relative gains from sector management is a retrospective evaluation. Tables 4a,b show the actual catch of the Port Clyde sector vessels in fishing years 2004 and 2005 and what the sector TACs would have been had they been under sector management in those years (given the two different allocation formulas). The potential forgone revenue is calculated by applying the actual average species prices for the sector vessels in those years by the estimated forgone catch. This likely represents and upper bound on what the actual forgone revenues would have been since the sector would not have been able to land 100% of all TACs. However, it is clear that the potential gains could have been substantial. Table 4a: Port Clyde Sector Revenues and Gains Over Non Sector Management Based on FY01-05 Allocation 04-05 05-06 04-05 05-06 Forgone Forgone Forgone Rev Forgone Rev Stock and species Sector TAC Sector TAC Catch Catch Catch FY04 Catch FY05 FY04 FY05 GOM COD 136,657 179,542 75,107 125,373 61,550 54,169 $ 73,249 $ 70,420 GOM HADDOCK 203,097 199,061 22,818 33,295 180,279 165,766 $ 169,936 $ 159,665 GOM WHITE HAKE 239,337 238,277 190,737 161,235 48,600 77,042 $ 23,959 $ 60,690 NFMA MONKFISH 1,548,985 1,201,358 1,087,184 686,196 461,801 515,162 $ 309,226 $ 411,940 GOM PLAICE 631,388 619,427 236,870 173,570 394,518 445,857 $ 361,113 $ 620,755 POLLOCK 195,260 195,260 75,605 120,219 119,655 75,041 $ 76,066 $ 51,428 REDFISH 83,996 88,782 19,078 29,069 64,918 59,713 $ 29,359 $ 36,521 GOM/CC WINTER FLOUNDER 48,103 38,558 1,424 2,000 46,679 36,558 $ 41,762 $ 42,152 WITCH FLOUNDER 580,887 784,994 346,306 257,014 234,581 527,980 $ 247,565 $ 629,963 GOM/CC YELLOWTAIL 5,275 7,383 3 24 5,272 7,359 $ 5,272 $ 3,986 Total 3,672,985 3,552,643 2,055,132 1,587,994 1,617,853 1,964,649 $ 1,337,507 $ 2,087,520 Table 4b: Port Clyde Sector Revenues and Gains Over Non Sector Management Based on FY96-01 Allocation 04-05 05-06 04-05 05-06 Forgone Forgone Forgone Rev Forgone Rev Stock and species Sector TAC Sector TAC Catch Catch Catch FY04 Catch FY05 FY04 FY05 GOM COD 140,613 184,739 75,107 125,373 65,506 59,366 $ 77,956 $ 77,176 GOM HADDOCK 77,143 75,610 22,818 33,295 54,326 42,316 $ 51,209 $ 40,758 GOM WHITE HAKE 162,388 161,669 190,737 161,235 (28,349) 435 $ (13,975) $ 342 NFMA MONKFISH 1,348,610 1,045,952 1,087,184 686,196 261,426 359,756 $ 175,053 $ 287,672 GOM PLAICE 457,496 448,829 236,870 173,570 220,626 275,260 $ 201,945 $ 383,236 POLLOCK 151,298 151,298 75,605 120,219 75,693 31,079 $ 48,119 $ 21,300 REDFISH 50,426 53,299 19,078 29,069 31,348 24,230 $ 14,177 $ 14,819 GOM/CC WINTER FLOUNDER 130,922 104,945 1,424 2,000 129,498 102,945 $ 115,857 $ 118,695 WITCH FLOUNDER 785,041 1,060,883 346,306 257,014 438,735 803,869 $ 463,019 $ 959,142 GOM/CC YELLOWTAIL 1,276 1,786 3 24 1,273 1,762 $ 1,273 $ 954 Total 3,305,213 3,289,010 2,055,132 1,587,994 1,250,081 1,701,016 $ 1,134,633 $ 1,904,094 3.1.3 Matching Catch to ACE A frequently expressed concern of many fishermen regarding sector management as well individual quota systems is that fishermen have limited control over the species composition of their catch and may be unable to match their catches to their allocations. This may be particularly difficult if the spatial distribution of different species has shifted over time relative to what it was in the years on which their allocation was calculated. This imbalance could result in them being unable to use much of their allocation of some species because they could not limit their catch of other species and used up those allocations prematurely. In an individual transferable quota 23
Page 1 and 2: Community-based Sectors for the New
Page 3 and 4: Table of Contents Executive Summary
Page 5 and 6: Community leaders in Portland and P
Page 7 and 8: of community-based permit banks. Th
Page 9 and 10: 1.0 Introduction The groundfish fis
Page 11 and 12: Although Amendment 13 effectively e
Page 13 and 14: somewhat vague on how the allocatio
Page 15 and 16: 2.2 Experience with Existing Sector
Page 17 and 18: me to explore the idea further and
Page 19 and 20: period is that which was used to de
Page 21 and 22: shown above in Table 2. Revenue pro
Page 23: Table 3a: Port Clyde Sector Revenue
Page 27 and 28: increased. They also have caught a
Page 29 and 30: 3.2.1 Strawman Sector Structure and
Page 31 and 32: Table 8: Portland Sectors A and B V
Page 33 and 34: discussed earlier these price proje
Page 35 and 36: Table 9b: Portland Sector A Revenue
Page 37 and 38: Table 9d: Portland Sector B Revenue
Page 39 and 40: Table 10b: Portland Sector A Revenu
Page 41 and 42: Table 11b: Portland Sector B Specie
Page 43 and 44: vessels would be leased to sector v
Page 45 and 46: is ostensibly to reduce excess capa
Page 47 and 48: Table 15: Projected Total Revenue,
Page 49 and 50: later. However, rolling baselines c
Page 51 and 52: 4.4 Communities without Catch Histo
Page 53 and 54: opportunities for consolidation of
Page 55 and 56: References Alexander, Yvette 2006.M
Page 57 and 58: Appendix A: Landings and revenue pr
Page 59 and 60: Appendix B: Groundfish Price Model
Page 61 and 62: Appendix C: Sector Proposals Submit
Page 63 and 64: Port Clyde Community Sector Glen Li
Page 65 and 66: Full Retention All fish caught 1. e
Page 67 and 68: Reasons for Existence: 1. end overf
Page 69 and 70: Gloucester Fixed Gear Sector Peter
Page 71 and 72: New Bedford Channel Trawl Sector Ri
Page 73 and 74: Point Judith / Southern New England
Page 75:
Pier 6 Initiative Michael Walsh Req
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Community-based Sectors for the New England Groundfish Fishery

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