EMEA News
All-Time High for UK Fishing Fleet's Fuel Cost
The fuel cost for the UK's fishing fleet hit an all-time high of about around £182 million ($280.2 million) in 2012, up 20 percent from 2011, according to national fishing industry group Seafish.
"Average fuel cost as a proportion of total turnover increased from 22% in 2011 to an estimated 27% in 2012," said Seafish economist John Anderson.
Anderson said operating profit for the industry dropped by about £36 million ($55.4 million) year-on-year, driven by rising fuel costs and lower prices for fish.
"Average operating profit as a proportion of total turnover decreased from around 18% in 2011 to around 15% in 2012," he said.
Seafish is now offering financial data about the UK fishing fleet online and is publishing data for the years 2005 through 2012 for various fleet segments.
"We receive many requests for fleet economic performance data so we are really pleased to make these data available in a simple spread sheet and publish them online," Anderson said.
Fuel prices became a major political issue for the British fishing industry in 2008, when skyrocketing energy prices threatened the survival of fishing operations, the Telegraph reported at the time.
