Tag Archives: the expense of leasing shares
Choosing Winners and Losers in Alaska’s Crab Fishery
When the US government implemented the quota system in 2005, it awarded quota shares to fishers based on their catch histories. The shares, which provide exclusive harvest rights to a proportion of each year’s allowable catch, are transferrable, meaning owners can fish their share, lease it, or pool their share with others to save on the high costs of fishing. It’s a big difference from how the fishery was previously managed, when regulators focused more on controlling the total catch. That approach led to derby-style fishing, where vessels raced into Alaska’s remote and stormy seas during short winter openings. While the money could be good, the frantic fishing came at a high cost in lost lives and lost vessels. >click to read< 10:10
