Operational and Financial Characteristics of Reef-Fish Vessels in the South Atlantic and Gulf of Mexico Areas

Abstract

Cost and revenue data collected from reef-fish fishermen in the southeastern United States provided a comprehensive financial and operational profile of commercial fishing vessels during 1980-1981. Analysis of variance tests showed that significant differences existed between vessels operated in the south Atlantic areas vs. vessels operated in the eastern Gulf of Mexico, although the financial characteristics of these vessels were not significantly different. On the contrary, the financial characteristics of vessels using bottom longlines were significantly different than vessels equipped with the traditional handline fishing gear. Owner-operated vessels also had significantly better financial performance than firm-operated vessels. Returns to labor, management, and owner's equity showed considerably larger returns for longline-equipped and owner-operated vessels compared to handline-equipped and firm-operated vessels. The former two groups of vessels also were comparatively more efficient based on three measures of vessel efficiency. Lastly, risk analyses were performed for several operational and financial characteristics of these vessels, and they showed little or no difference in risk between vessels equipped with longlines compared to vessels using handlines. Comparisons of risk, however, did indicate that owner-operated vessels were operated less conservatively than vessels operated by non-owners.