NR-M-99-15E
RESULTS OF FOURTH ROUND OF BIDDING FOR GROUNDFISH LICENCE RETIREMENT
PROGRAM IN THE GULF FISHERIES MANAGEMENT REGION
May 7, 1999
MONCTON - The Department of Fisheries and Oceans' Gulf Fisheries
Management Region today announced the result of the fourth round of bidding
under the Atlantic Groundfish Licence Retirement Program. A total of 17
bids were received in the fourth round, which began in mid-March 1999 and
closed on April 16, 1999.
An independent Licence Retirement Advisory Committee assessed the bids
received. The committee recommended to DFO that only one of the 17 bids
submitted be accepted as it represented good value and was consistent with
bid values approved in previous rounds.
After four rounds of the program, a total of 175 bids have been received,
of which 48 were accepted by the department. Four or the fishers whose
bids were accepted subsequently declined the department's offer to retire
their groundfish licences resulting in a total of 44 licences being retired.
The total cost of the program to date is approximately $7.1 million.
The average dollar amount of the bids accepted by fishers in the four
rounds of the program are:
-
Individual Transferable Quota (ITQ) fleet - $239,411
-
Groundfish Specialist (Competitive) - $132,057
-
Groundfish Generalist (Inactive or marginally active) - $25,166
As a result of offers being declined, the low participation rate in the
fourth round and the fact that few of the bids received in this last round
were considered to be competitive, there are sufficient funds available
to allow a fifth and final round to be conducted in the late fall of 1999.
Fishers holding groundfish licences will be provided with the details about
the final round before it begins.
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FOR MORE INFORMATION:
Michel Audet
Policy and Economics Branch
Fisheries and Oceans
Gulf Fisheries Management Region
Moncton, N.B.
(506) 851-7813
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