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2015 Final Performance Report for the Northeast Groundfish Fishery: an overview
Tammy Murphy, Gregory Ardini, Maria Vasta,
Andrew Kitts, Chad Demarest, John Walden and Daniel Caless NEFSC
January 31, 2018
NEFMC Meeting
Portsmouth, New Hampshire
0
50
100
150
200
250
2007 2008 2009 2010 2011 2012 2013 2014 2015
Groundfish NGF
Landings for all limited access groundfish vessels
all trips, million landed pounds, May-April
Mill
ion
po
un
ds (
lan
de
d)
Total Landings (GF+NGF) at a 9 year low in 2015 (231.1M lbs., -10.9% from 2007)
GF landings at a 9 year low in 2015 (41.6 million lbs. in 2015, -34.5% from 2007)
NGF landings are relatively more stable (189.5 million lbs. in 2015, -3.2% from 2007)
$0.80
$0.90
$1.00
$1.10
$1.20
$1.30
$1.40
$1.50
2007 2008 2009 2010 2011 2012 2013 2014 2015
Groundfish NGF
$2
01
0 p
er
lb.
Average price per pound, $2010
all trips, all landings, May-April
Average GF price has trended downward since 2010.
In 2015, average NGF price was $0.14/lb. higher than in 2014
and at its second highest value in the 9 yr. period.
Since 2010,
CP vessels have
typically received
higher average
prices for GF and
NGF than sector
vessels.
Total gross revenues up 4.6% in 2015 compared to 2014, but down 12% overall from 2007.
Revenues for all active limited access groundfish vessels
all trips, million $2010, May-April
The GF share of
total revenues was
29.8% in 2007,
peaked at 31.4% in
2009, and dropped
each year
afterwards to 9 yr.
low of 19% in
2015.
$0
$50
$100
$150
$200
$250
$300
$350
2007 2008 2009 2010 2011 2012 2013 2014 2015
Mill
ion
$20
10
Groundfish NGF
$0
$20
$40
$60
$80
$100
2007 2008 2009 2010 2011 2012 2013 2014 2015
Gross Revenue from all GF landings on all trips
GF revenues at a 9 year low in 2015 ($51.2M)
Down $4.2M (-7.6%) from 2014
Down $40.0M (-43.9%) from 2007
Millio
n $
20
10
Value of Groundfish Landings
all trips, million $2010, May-April
In 2015, sector
vessels earned
97.7% of the total
value of GF landings.
Value of Allocated GF Species
all trips, million $2010, May-April
$0
$5
$10
$15
$20
$25
$30
$35
Cod Haddock Winter Flounder Pollock
Mill
ion
$20
10
2007
2008
2009
2010
2011
2012
2013
2014
2015
In 2015, 12.3% of
GF revenue was
from cod,
compared to >30%
in 2007-2011. Cod
revenues fell
79.6% overall from
2007-2015.
Value of Allocated GF Species (continued)
all trips, million $2010, May-April
$0
$1
$2
$3
$4
$5
$6
$7
$8
White Hake AmericanPlaice
YTF WitchFlounder
Redfish
Mill
ion
$20
10
2007
2008
2009
2010
2011
2012
2013
2014
2015
$0
$25
$50
$75
$100
$125
$150
$175
$200
$225
$250
2007 2008 2009 2010 2011 2012 2013 2014 2015
Non-groundfish, all trips
Gross Revenue from all NGF landings on all trips
NGF revenues increased 1.6% overall from 2007-2015.
NGF revenues were at their 3rd highest value in the 9 yr.
period in 2015 ($218.4M), up 8% from 2014.
Mill
ion
$2
01
0
Value of Non-groundfish Landings
all trips, million $2010, May-April
Top NGF Specie landed by the limited access GF Fleet, by value
Sea Scallops
all trips, million $2010, May-April
$0
$20
$40
$60
$80
$100
2007 2008 2009 2010 2011 2012 2013 2014 2015
Mill
ion
$20
10Sea Scallops
Scallop revenue earned by the fleet was up 8.1% overall
from 2007-2015, with landings down 34.4% and average
price up 64.9%.
Between 2007-
2015, the
percentage of NGF
revenue from
scallops ranged
from 28.0% (2014)
to 37.8% (2012). In
2015, 32.3% of
NGF revenue
earned by the fleet
was from scallops.
Top NGF Species landed by limited access GF fleet, by value
(excluding scallops)
all trips, million $2010, May-April
$0
$5
$10
$15
$20
$25
$30
$35
$40
Lobster LF Squid Monk Sum Flounder Silver Hake Skates Herring Scup Jonah Crab
Mill
ion
$201
0
2007 2008 2009 2010 2011 2012 2013 2014 2015
Fewer active vessels across all vessel length classes
Down 6.1% (-44 vessels) from 2014, down 34.7% (-361 vessels) from 2007
Number of limited access groundfish vessels
with revenue from any species, May-April
0 100 200 300 400 500 600 700 800 900 1000 1100
200720082009201020112012201320142015
Number of Active Vessels
< 30'
30'-<50'
50'- <75'
75'+
Fewer active vessels targeting GF across all vessel length classes
Down 9.7% (-30 vessels) from 2014, down 58.1% (-389 vessels) from 2007
0 50 100 150 200 250 300 350 400 450 500 550 600 650 700
200720082009201020112012201320142015
Number of active vessels with revenue from at least one GF trip
< 30'
30'-<50'
50'- <75'
75'+
Number of active limited access groundfish vessels
with revenue from at least one GF trip, May-April
The % of the fleet
earning revenue
from GF trips has
fallen overall,
from 64.4% in
2007 to 41.3% in
2015.
Fewer Active Vessel Affiliations
Affiliations with revenue from any species down 29.4% (-232 affiliations) in 2015 from 2007.
Affiliations with revenue from GF trips down 50.5% (-245 affiliations) in 2015 from 2007.
0
100
200
300
400
500
600
700
800
2007 2008 2009 2010 2011 2012 2013 2014 2015
Nu
mb
er o
f V
esse
l Aff
iliat
ion
s
Any species
At least one GF Trip
Inactive
Number of Vessel Affiliations
(with revenue from any species, with revenue from at least one GF trip, and inactive)
The number of crew trips fell over 2007-2015 across all vessel length categories and
was down 35.8% in 2015 from 2007 for all vessels combined.
Decreases over 2007-2015 ranged from -14.5% for <30’ to -39.0% for 30’ to <50’ vessels.
0
10
20
30
40
50
60
70
80
90
100
2007 2008 2009 2010 2011 2012 2013 2014 2015
Th
ou
san
d C
rew
Tri
ps
< 30'
30' to <50'
50' to < 75'
75' +
Number of Crew Trips by Vessel Length Category
(thousand trips, all trips, May-April)
All home ports
saw declines
in the number
of crew trips
over 2007-
2015.
The number of crew days for all vessels combined was down 23.5% from 2007-2015.
Decreases over 2007-2015 ranged from -13.4% for <30’ to -34.8% for 30’ to <50’ vessels.
Number of Crew Days by Vessel Size Category
(thousand days, all trips, May-April)
All home ports
saw declines
in the number
of crew days
over 2007-
2015.0
10
20
30
40
50
60
70
80
90
2007 2008 2009 2010 2011 2012 2013 2014 2015
Th
ou
san
d C
rew
Day
s
< 30'
30' to <50'
50' to < 75'
75' +
More on Crew Employment
• Crew positions for all trips by all limited access GF vessels were at a 9 yr. low in 2015, with a 29.0% overall decrease from 2007 .
• Most home ports have seen declines in crew positions over 2007-2015; these declines range from -7.7% (-13 positions) in NJ to -54.0% (-67 positions) for NH. MA lost the greatest number of crew positions in absolute terms (-463 crew positions).
• For all vessels combined, crew days on all trips generally declined over 2007 (200,622 crew days) to 2015 (153,550 crew days), but crew days were slightly higher in 2015 than in 2014 (151,479 crew days).
• Crew trips decreased more rapidly than crew days. The ratio of crew days to crew trips increased from 2007 (1.28) to 2015 (1.53), which means that crew are spending more time per earning opportunity.
Measuring Economic Performance Estimation of Net Revenue
• Net Revenue = Gross Revenue – Trip Costs
o Trip costs included: fuel, oil, ice, bait, food, water, damages, lumpers fees and sector membership fees. Communication and trucking costs not accounted for.
Limitations• Does not account for quota leasing costs incurred or leasing
revenues received.
• Does not reflect fixed costs.
• Net revenue is not a measure of profitability.
Net Revenue Estimation
Methodology and Assumptions
o Trip costs for all trips were estimated using cost information from
observed trips. Average costs per day were estimated for 184 vessel
types (based on gear, vessel length, trip duration and fishing year).
o Assumptions about whether the vessel is operated by the owner or a
hired captain (based on data from cost survey):
Vessels < 75’:
-Crew of <3: operator is owner.
-Crew of 3+: operator is a hired captain.
Vessels 75’+: operator is assumed to be a hired captain.
$0.0$0.2$0.4$0.6$0.8$1.0$1.2$1.4$1.6$1.8$2.0
2007 2008 2009 2010 2011 2012 2013 2014 2015
Owner Share: <30' Crew Share: <30'
$0.0
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
$70.0
2007 2008 2009 2010 2011 2012 2013 2014 2015Owner Share: 30' to <50'
Crew Share: 30' to <50'
Median Per Vessel Owner Share of Net Revenue increased overall from 2007-2015 for <30’ vessels
(+62.5%, +$0.5 thousand) and for 30’ to <50’ vessels (+13.5%, +$7.5 thousand).
Median Per Vessel Crew Share of Net Revenue also increased from 2007-2015 for 30’ to <50’ vessels
(+10.6%, +$1.9 thousand). These estimates are not adjusted for leasing.
Median owner and crew shares of net revenue per vessel for
<30’ and 30’ to <50’ vessels
thousand $2010, all trips, May-April
Th
ou
sa
nd
$2
01
0
$0.0
$50.0
$100.0
$150.0
$200.0
$250.0
2007 2008 2009 2010 2011 2012 2013 2014 2015
Owner Share: 50' to <75'
Crew Share: 50' to <75'
$0.0$50.0
$100.0$150.0$200.0$250.0$300.0$350.0$400.0$450.0$500.0
2007 2008 2009 2010 2011 2012 2013 2014 2015
Owner Share: 75'+ Crew Share: 75'+
Median Per Vessel Owner Share of Net Revenue increased overall from 2007-2015 for 50’ to <75’ vessels (+60.7%,
+$83.2 thousand) and for 75’+ vessels (+54.8%, +$163.4 thousand).
Median Per Vessel Crew Share of Net Revenue also increased from 2007-2015 for 50’ to <75’ vessels (+71.8%,
+$73.7 thousand) and for 75’+ vessels (+131.5%, +$214.9 thousand). These estimates are not adjusted for leasing.
Median owner and crew shares of net revenue per vessel for
50’ to <75’ and 75’+ vessels
thousand $2010, all trips, May-April
Th
ou
sa
nd
$2
01
0
$0.0
$0.1
$0.2
$0.3
$0.4
$0.5
$0.6
2007 2008 2009 2010 2011 2012 2013 2014 2015
Owner Share: <30' Crew Share: <30'
Fleet Level Owner Share of Net Revenue increased overall from 2007-2015 for <30’ vessels (+33.3%, +$100,000).
Fleet Level Owner and Crew Shares of Net Revenues for 30’ to <50’ vessels decreased 30.4% from 2007-2015,
in part b/c of the decline in active vessels in this category (-37.5%).
These estimates are not adjusted for leasing.
Fleet Level Owner and Shares of Net Revenue for
<30’ and 30’ to <50’ vessels
million $2010, all trips, May-April
Mill
ion
$2
01
0
$0.0
$10.0
$20.0
$30.0
$40.0
$50.0
2007 2008 2009 2010 2011 2012 2013 2014 2015
Owner Share: 30' to <50' Crew Share: 30' to <50'
$0.0
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
$70.0
$80.0
2007 2008 2009 2010 2011 2012 2013 2014 2015
Owner Share: 50' to <75' Crew Share: 50' to <75'
Fleet Level Owner and Crew Shares of Net Revenue for 50’ to <75’ fluctuated slightly during 2007-
2015, with a 1.5% decrease overall for owner share and a 0.7% increase overall for crew share. Fleet
Level Owner and Crew Shares of Net Revenue for 75’+ vessels increased overall from 2007-2015, by
9.7% and 31.7%, respectively. These estimates are not adjusted for leasing.
Fleet Level Owner and Crew Shares of Net Revenue for
50’ to <75’ and 75’+ vessels
million $2010, all trips, May-April
Mill
ion
$2
01
0
$0.0
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
$70.0
$80.0
2007 2008 2009 2010 2011 2012 2013 2014 2015
Owner Share: 75'+ Crew Share: 75'+
Consolidation of revenues:
• A shift in the GF fishery towards fewer active vessels or fewer active vessel
affiliations earning from GF and all species.
Distribution of revenues:
• The distribution of GF revenues and total gross revenues among the
remaining active vessels and vessels affiliations in the fishery.
Consolidation and Distribution of Revenues from Landings
by the Active Limited Access GF Fleet
0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0%9.0%
10.0%
2007 2008 2009 2010 2011 2012 2013 2014 2015
Per
cen
t o
f af
filia
tio
ns
25% of Total Gross Revenues
50% of Total Gross Revenues
Total Gross Revenues
(GF + NGF species combined)
Percent of vessel affiliations
earning top 25% and 50% of total gross revenues
from all species landed
0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0%9.0%
10.0%
2007 2008 2009 2010 2011 2012 2013 2014 2015
Per
cen
t o
f af
filia
tio
ns
25% of Groundfish Revenues
50% of Groundfish Revenues
Groundfish Revenues
GF Revenues are more consolidated than Total Gross Revenues
Percent of vessel affiliations
earning top 25% and 50% of groundfish revenues from landed GF
0.6
0.65
0.7
0.75
0.8
0.85
0.9
0.95
1
2007 2008 2009 2010 2011 2012 2013 2014 2015
Gini Coefficients for Distribution of Revenues Among Active Vessel Affiliations
Total Gross Revenues (all species) Groundfish Revenues
Both total gross revenues and groundfish revenues were not equally distributed among active
vessel affiliations at any point during 2007-2015.
GF revenues are more concentrated (or less equally distributed) than total gross revenues,
and there has been an increase in the concentration of GF revenues during 2007-2015.
Gini
Coefficient
1 = Perfect
Inequality
0 = Perfect
Equality
Leasing Activity
(million live pounds, May-April)
0
5
10
15
20
25
30
2010 2011 2012 2013 2014 2015
Mill
ion
Liv
e P
ou
nd
s o
f A
CE
/PS
C Vessel AffiliationLevel
MRI Level
The no. of MRIs leasing in quota fell each yr. from 2010-2015, for an overall 35.1% decrease (-68 MRIs),while
quota volume leased in increased 10.9% overall from 2010-2015.
The no. of vessel affiliations leasing in quota also fell over 2010-2015 (-22.7%,- 44 affiliations). The volume of
quota leased in by vessel affiliations fluctuated from yr. to yr., with 2015 representing a 6 yr. high.
The difference btw quota leased in at
the MRI level & quota leased in at the
affiliation level is quota leased between
MRIs in the same affiliation.
Overall ACE
utilization rate has
ranged from 32%
in 2012 to 42% in
2011, and was
35% in 2015.
Value of ACE/PSC Leasing(million $2010, May-April)
(million $2010, May-April)
$0.0$1.0$2.0$3.0$4.0$5.0$6.0$7.0$8.0$9.0
$10.0$11.0$12.0$13.0$14.0$15.0$16.0
2010 2011 2012 2013 2014 2015
Mill
ion
$20
10
Transfers BetweenVessel Affiliations
Transfers BetweenMRIs
MRI level: the total
value of quota leased
in decreased 53.8%
(-$6.4M) since 2010,
but was higher in 2015
than 2014.
Affiliation level: the
total value of quota
leased in
decreased -34.8%
(-$2.4M) from
2010.
In each yr. from 2010-2015,
vessels in the 30’ to <50’ length class
account for the largest percentage of
vessels that lease in quota.
More on leasing activity At the stock level, utilization rates in 2015 ranged from 6.0% (GB East Haddock) to
100% (GOM Cod).
GOM Cod had the highest lease price ($2.29/live lb.) of any allocated stock in 2015;
GOM Cod’s lease price exceeded its average ex-vessel price in 2015 ($2.12/live
lb.).
For the other allocated GF stocks for which a lease price could be determined in
2015, the ratio of lease price to ex-vessel price ranged from 11% (GB West Cod) to
69% (SNE/MA Winter Flounder).
Summary GF revenue was at a nine yr. low in 2015 due to both decreases in landings and in
average ex-vessel price (aggregated over all GF stocks).
Due to declining GF revenue and the relative stability of NGF revenue, the limited
access GF fleet must increasing rely on NGF.
The size of the active limited access GF fleet continued to decline, with the decline
more marked in vessels that target GF.
Fishing effort in the fleet declined overall, and declines in effort on GF trips were
more marked than those on NGF trips.
Summary (continued) Opportunities for crew on limited access GF vessels generally declined over 2007-
2015. Total crew positions, crew trips and crew days were at 9 year lows in 2015.
While the number of MRIs and Vessel Affiliations leasing in quota fell over 2010-
2015, the volume of the quota market (total live pounds) generally increased.
For those remaining in the active fleet, net revenue trends vary depending on
vessel size and trip type. Net revenue estimates do not account for leasing activity.
Both total gross revenues from all species and revenues from groundfish were
concentrated in 2007 and remained so during the 9 year time span. Concentration
in GF revenues increased during 2007-2015.
Thank you!
For more information about the 2015 Final Report
on the Performance of the Northeast Groundfish Fishery,
please contact:
Tammy Murphy, Economist
Northeast Fisheries Science Center
Voice: 508.495.4716
Email: [email protected]