Estimates made by Seafish using its new dataset suggest that although the UK fleet made a profit last year, operating profit decreased compared to 2011.
This estimate is based on Seafish’s new dataset estimating the financial and business performance of the UK fishing fleet.
The dataset contains annual estimates of a variety of business and financial indicators for the years 2005-2012 for around 30 different UK fleet segments. The data used to produce the estimates are based on official landings, vessel and activity data for every vessel in the UK fleet and on sets of accounts supplied voluntarily by vessel owners to Seafish. The early estimate of the outcome for 2012 is based on official data, 2012 fuel prices and 2011 cost structures.
John Anderson, economist at Seafish said: “We receive many requests for fleet economic performance data so we are really pleased to make these data available in a simple spread sheet and publish them online.
“Results suggest that the UK fishing fleet’s fuel bill hit an all-time high in 2012, amounting to around £182 million, an increase of approximately 20% from 2011. Average fuel cost as a proportion of total turnover increased from 22% in 2011 to an estimated 27% in 2012.
“Although we estimate that the UK fleet made an overall operating profit in 2012, operating profit decreased by around £36 million compared to 2011. Average operating profit as a proportion of total turnover decreased from around 18% in 2011 to around 15% in 2012, driven primarily by lower fish prices and higher fuel prices.”
The new dataset can be downloaded here.
