Concerns about illegal, unreported and unregulated fishing, carbon footprint, and the impact of fuel subsidy - An economic analysis of the Black Sea anchovy fishery

Abstract

Among the unresolved problems of fisheries, illegal, unreported and unregulated (IUU) fishing, high carbon footprint, overfishing, and overcapitalization of the fleet are at the forefront. Supporting fishers through fuel subsidy is commonly practiced but eventually led to overcapitalization of the sector. Moreover, the reported catch weights were insufficient to meet fleet operational costs and investments, and therefore there must be some degree of IUU fishing in Black Sea. Therefore, the study examined the economic performance of the purse seiners engaged in anchovy fishery in the Black Sea coast of Turkey and Georgia. The results revealed that economic performance and revenue in the Black Sea anchovy fishery segments evaluated were sufficient to cover expenses and be profitable, even in years when the catch was insufficient. Economic analysis also showed that fuel constitutes a significant part of operational cost in all fleet segments and, in return, 0.17–0.59 tons of CO2 was produced to catch one ton of fish. Under these circumstances, the segment displaying the best fuel utilization efficiency would not survive if the remedy suggested by the UN's sustainable development goal-14, which advocates eliminating fuel subsidy to curb IUU and overfishing, were enforced. In light of the study findings, a series of remedies are suggested to discourage a trend towards IUU fishing, control the fleet's carbon footprint, and ensure sustainability. Among the proposed remedies, the removal of least effective medium-sized boats from the fleet, enforcing more efficient harvest control measures, and limiting the catch used for anchovy reduction fishery were emphasized.