Decreased fishing crews, falling profitability, double high in the ocean industry

Published 2020년 9월 21일

Tridge summary

The Ministry of Oceans and Fisheries has reported a 10% increase in deep-sea fisheries production in 2019, with the total output reaching 510,000 tons. However, the number of seafarers and the profit margins of seashore companies have decreased, leading to challenges in the marine industry. The majority of the catch was bonito, accounting for over half of the total production. Despite this, the number of domestic deep-sea companies and fishing vessels have decreased, while the number of workers has increased, leading to a crew shortage. Furthermore, the average assets of ocean companies have increased but so has their debt, along with a decline in profit margins.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Last year, the production of deep-sea fisheries increased by 10% from the previous year. In addition, it was investigated that the number of seafarers and the margin of profits of the seashore companies decreased, increasing the difficulties of the marine industry. According to the results of the ``2019 Statistics Survey of Pelagic Fisheries'' released by the Ministry of Oceans and Fisheries on the 16th, the total output of pelagic fisheries in 2019 was 510,000 tons. This is an increase of 50,000 tons compared to the previous year. By major fish species, 290,000 tons (56%) of bonito, 50,000 tons (11%) of yellowfin tuna, 40,000 tons (8%) of southern sea shrimp, and 20,000 tons (4%) of squid were caught, respectively. In 2019, a total of 290,000 tons of bonito, which accounted for more than half of the total production of deep-sea fishing, were caught due to the favorable fishing of the Pacific Midwest and Indian Ocean wagons. Most were caught (96.5%) from tuna fishing boats in the ...

Source: Fisheco