Fisheries scientist Daniel Pauly and economist Ussif Rashid Sumaila have examined subsidies paid to bottom trawl fleets around the world.
They found that US$152 million per year are paid to deep-sea fisheries. Without these subsidies, global deep-sea fisheries would operate at a loss of $50 million a year. A great deal of the subsidies paid to deep-sea trawlers is to subsidize the large amount of fuel required to travel beyond the 200 mile limit and drag weighted nets.
“There is surely a better way for governments to spend money than by paying subsidies to a fleet that burns 1.1 billion litres of fuel annually to maintain paltry catches of old growth fish from highly vulnerable stocks, while destroying their habitat in the process” – Pauly
“Eliminating global subsidies would render these fleets economically unviable and would relieve tremendous pressure on over-fishing and vulnerable deep-sea ecosystems” – Sumaila
Namibian fisheries don’t get these subsidies. I guess they get to avoid the annual license fees instead ?
BOFFFF = Big Old Fat Fecund Female Fish