There was a sharp increase of 29 percent in the value of fishing rights between 2010 and 2011, "reflecting optimism about the prospects of the industry," according to a new report by the EU Commission’s Scientific, Technical and Economics Committee on Fisheries (STECF) on the profitability of the EU fleets.
The rise in the value of fishing rights was a major reason for rise in capital value of the fleet between 2010 and 2011. The UK fleet had an depreciated replacement value of €538 million in 2012 and a value of fishing rights of €835 million in 2011.
The report said the UK fleet’s total income increased 17 percent between 2010 and 2012, but total operating costs in 2012 of €783 million were 79 percent of income.
