But Norway is banking on a Government White paper to see the fortunes of the industry return.
The paper reviewed the country's policy towards the coastal fleet and has since argued that it was necessary to reduce its catch capacity (see page 10). According to Svein Ludvigsen, Norwegian Minister of Fisheries, Norway's move to introduce a structured quota system and also a decommissioning scheme is starting to work well with the remaining vessels starting to hit profit again during the first half of 2004.
Over the last year Norwegian fisheries have been in and out the news. Here are the highlights of the past year:
May 2003:
The White Paper: "Structural Measures towards the Coastal Fishing Fleet" was presented to Parliament in an attempt to improve the fortunes of the Norwegian industry. Proposals were made (and later accepted), that Norway should introduce a structured quota system as well as a round of decommissioning.
September 2003:
The sale of cheap Norwegian salmon was seriously threatening the Finnish aquaculture industry, according to the Finnish Fish Farmers' Association and reported on FIS. The Association said its industry was likely to fold completely within a few years if the current trend was to continue.
This, the Association went on to say, would be devastating for many of the more remote communities where more than a thousand people. Finland produces approximately 15 million kilograms of fish for food each year.
In 2002 the total value of the industry was €37 million. At the time, the price for a kilo of Norwegian salmon was less than €4 in some places.Meanwhile farmers in Norway were also finding it tough to survive in the industry and were being heavily supported by the country's leading banks as they faced an uncertain economic future.
November 2003:
Despite an overall decrease by nine per cent in the value of seafood exports from January to October 2003, sales of seafood exports increased considerably during October 2003 from the previous year.
Exports for October reached NOK3.4 billion which was mainly due to the rise in salmon price as well as an increase in the volume of exports.
Up until October, the export of salmon rose by 44,000 tonnes.
Also this month, Russia and Norway agreed at setting the TAC for Arctic cod at 506,000 tonnes.
This included a scientific quota of 15,000 tonnes that was shared between the two countries.
It was also noticed that Norway was the target for foreign investors after Faeroese company Royal Greenland took control of a Norwegian shrimp processing plant. It was also rumoured that companies from Iceland and Portugal were also interested in Norwegian firms.
December 2003
Ireland 'strenuously denied' statements in a Norwegian report that claimed the Irish fleet has overfished Norwegian mackerel up until 2002.
January 2004:
Norway backed proposals by the Scottish Fishermen's Federation for white fish fleet skippers to be offered an incentive to stay out of cod areas.
February 2004:
Fish exports rose by 15 per cent in January compared to the same month last year. The value of exports reached a value of NOK2.2 billion.
March 2004:
Uganda said that joint agreements signed with Norwegian businesses were expected to give a USD15 million boost to the economy by the buliding of fish farms, hatchery and processing plants.
April 2004:
The 2003 Norwegian mackerel season was affected by a reduction in catches and low prices according to the Norwegian Seafood Council. Total exports from Norway reached 253,109 tonnes in 2003, 42,515 tonnes lower than 2002.
The price for mackerel dropped from NOK9.05 per kilogram to NOK8.13 per kilogram. Landings for the first four months of 2004 were expected to be at around 37,000 tonnes.
