EU fleet profitable and fuel efficient

Industry Database

The EU fishing fleet is increasingly profitable and fuel efficient, according to a new report.

The European Commission's Scientific, Technical and Economic Committee for Fisheries’ (STECF) 2014 Annual Economic Report on the EU fishing fleet shows that the EU fishing fleet was generally profitable in 2012, generating €6.9 billion in revenue, with roughly half of that transformed into salaries and profits for the fishing communities.

Most national fleets show a positive trend over the period 2002-2012. However, despite signs of a recovery, the report says that the impact of the fuel crisis that peaked in 2003 and 2008 demonstrates the vulnerability of the EU fleet to external shocks.

With regards to fuel efficiency, fuel consumption and fuel use intensity decreased by 10% from 2008 to 2012, which has been attributed to EU-backed fuel-efficient fishing gear, fleet reduction, changes in fishing behaviour and fleet dynamics.

Employment onboard EU fishing vessels declined on an average of 2% per year from 2008 to 2012 and was recorded at 151,383 employees in 2012. However, the average salary per employee increased over the same period.

To read the report, please click here.

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