Abstract:
The annual assessment of shrimp fishing performance is important to three interrelated audiences: the regulatory
community which defines the policy arena in which fishermen operate, financial institutions which extend credit, and producers.
Historic, economic performance data enables policy makers to estimate the ability of producers to absorb production losses
and/or increased expenses that resource management measures may mandate. Likewise, commercial lenders accustomed to
using industry benchmarks can compare historic performance of a loan applicant against his peers. At the firm level, if key
measures of competitiveness such as production costs, profitability, and return on assets are to be improved, producers can gain
from knowing how their performance compares against industry standards. This paper describes the development of a database
that meets the needs of these three audiences. Annual economic, financial, and production data are provided by cooperating
vessel owners. Accrual-adjusted financial statements are the primary sources of financial and economic information while
fishing records highlight production-oriented measures (e.g. days-at-sea, gallons of fuel used, pounds harvested, etc.). To create
benchmarks in production costs, revenues, and equity changes, a standardized set of ratios and measures is computed that
reflects the financial position and performance of trawlers over time. These ratios and measures are computed according to
guidelines adopted by the Farm Financial Standards Council. With this information, the impacts of proposed regulations can
be assessed both economically and financially providing a basis for communication with policy makers. Similarly, such ratios
and measures allow commercial lenders and cooperators to compare individual performance against industry standards.
