Economic evaluation of Lanternfish fishing with emphasis on IRR in specific fishing vessels for these fish in Iranian waters of the Oman Sea

Abstract

Myctophids are one of the most important and valuable resources of fish in the waters of the Oman Sea. Considering the economic aspects of its harvesting has an important role in catch management and profitability of fishing vessels. In this study, the economic profitability of different length classes of lanternfish (Benthosema pterotum) fishing vessels was investigated using Internal Rate of Return (IRR) in northwestern waters of the Oman Sea from April 2016 to March 2017. Lanternfish trawler vessels were classified in four length classes including 35-40 m (A class), 40-45 m (B class), 45-50 m (C class), and more than 50 m (D class). IRR index of vessels in each length class was calculated with consideration to the shipping costs and income of selling fish. Mean IRR (±SD) in one year and A, B, C, and D ship classes were obtained as 41±35, 55±55, 40±36, 41±28, and 35±28%, respectively. Results of this study showed that active lanternfish fishing ships have an appropriate internal rate of return and low investment risk in waters of the Oman Sea, and C ship class (45-50 m) showed the best internal rate of return and the lowest investment risk among four classes of lanternfish fishing ships. Results of this study can be used to improve the harvesting management of lanternfish resources and consequently, organize the active fishing ships in the waters of the Oman Sea.

Keywords

• lanternfish
• fishing
• management
• oman sea