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A Study on the Economic Performance and Efficiency of Offshore Gillnet Vessels in Nha Trang, Vietnam

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  • Vietnam’s policy is to shift the fishing pressure from onshore to offshore water since the coastal resource has been overexploited, and a programme for investing in offshore vessels has thus been implemented since 1997. The question raised is whether the offshore fishing fleet is profitable and efficient or not? This study aims to evaluate the economic performance and efficiency of the offshore fleet in Vietnam – the case of the Nha Trang gillnet fishery in open access conditions, based on a costs and earnings survey carried out on the 58 offshore vessels. The empirical results indicate that an average gillnet vessel earns a gross margin profit of 17.3% and a profit margin of 3.8%, but makes an economic loss, even with the government fuel cost support. The average annual crew income is 74.5% more than the local average income per capita. An efficiency analysis of the vessels based on an application of the Salter-diagram shows that the large number of vessels with high relative standardized effort (above 1) is the most cost-efficient scenario for vessels from both a short- and long-term perspective. The majority of these vessels receive intra-marginal rents. The government fuel subsidies help to increase their gross cash flow by 17.5% and profit by 36% for an average vessel. The small-scale vessels receive the most benefit from these subsidies. The study also demonstrates that engine capacity, fishing gear and fishing day are the factors best reflecting the fishing effort of the vessels.
  • KEYWORDS: Fisheries economics, Fisheries Indicators, Fishery management
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  • Ngoc, Duy Nguyen, Ola Flaaten, Kim Anh Thi Nguyen and Khanh Ngoc Thi Quach. 2010. A Study on the Economic Performance and Efficiency of Offshore Gillnet Vessels in Nha Trang, Vietnam. 12 pages. In: Proceedings of the Fifteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 13-16, 2010, Montpellier, France: Economics of Fish Resources and Aquatic Ecosystems: Balancing Uses, Balancing Costs. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2010.
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  • US National Oceanic and Atmospheric Administration (NOAA) Fisheries Division, Agence Française de Développement, Ministère de l’Enseignement Supérieur et de la Recherche, Ministère de L’Alimentation de L’Agriculture et de la Pêche, Ministère de l’Énergie, du Développement Durable et de la Mer, La Région Languedoc Rouslilon, Département Hérault, Montpellier Agglomèration, The Department of Fisheries and Oceans, Canada, and AquaFish Collaborative Research Support Program (CRSP).
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