Design-optimized and operational features to improve the economic results of fishing vessels

Abstract

The main objectives of this paper are to define the design parameters and operational features for new fishing vessels in order to increase their economic profitability. Thus, an economic model of their activity has been developed by taking into account the activity of the Galician fleet (Spain) for the last 7 years. Subsequently, the influence of each variable has been evaluated through the application of Monte Carlo simulation for each type of fishing vessel. Once the controllable and market variables in the model have been identified, the quantification of their influence on the economic result has been carried out. From data provided by the shipowners using the Port of Celeiro, this study also identifies a large oversize both in the hold and in the fuel capacity of the current fleet. According to the results obtained, new main dimensions and operational features for the vessels are proposed, with the objective of improving the economic feasibility of these vessels. The analysis shows the great importance of the market parameters and the initial investment in the final economic results. The longliner is the vessel that is the most sensitive to the solutions proposed, obtaining the largest improvements through smaller vessels operating at a lower speed during the trip.