Russian fishing quotas beyond 2018 to boost fleet renewal

In order to encourage fishing fleet renewal the nation's Federal Fisheries Agency is looking into possible capture quota incentives for those fishing companies which are planning to construct new vessels at home yards. This would be done at no damage to the current rights held by the fishermen with own fishing boats, according to Russian Fish Insider Report published by http://www.megafishnet.com/ .

In particular, the Agency is scrutinizing the idea to introduce an incremental factor for such companies as of 2018 when the capture quotas will distributed for a new period (the first period now underway is 10 years and the Agency has recently suggested its double extension to 20 years).

The additional quotas would be taken from such holders that cover their allocations by boats belonging to other owners and the Agency thinks that such companies should not receive new quota shares in 2018. The measure would lead to formation of a bank of free resources which could be distributed among shipowners willing to build new fishing vessels at home yards. The respective amendment which has been welcomed by majority of the fishing community could be introduced into the Federal Law on Fisheries, said the Russian fishery head Andrey Krainy.

Before initiating the new amendment the Agency has to make sure that as of 2018 the Russian shipyards will be able to fulfill the fishermen's orders with high quality and on schedule, said Andrey Krainy.