Effects of the fuel price crisis on the energy efficiency and the economic performance of the European Union fishing fleets

Recent fuel price increases, together with future scarcity of fossil fuels and pollution have raised awareness about the efficient use of energy. Expenditure on marine fuel represents a significant component of the operational costs of the fishing fleets and, as a result, the profitability of the fishing fleets is very sensitive to fuel price variations. By assembling data from 54 fishing fleets around Europe, representing one fourth of the European Union (EU) fishing fleet in terms of vessel numbers and one third in terms of the volume of landings, the effects of the fuel price increase on the economic performance and the energy efficiency of the EU fleet, were estimated for the period 2002-2008. Results demonstrate declining trends in the economic indicators through the years, with a 33% reduction in profitability of the fleets since the beginning of the study. Most energy efficiency indicators, which featured a deteriorating trend over time, have improved their performance after 2004, when the first fuel price increase of the period was observed. However, results do vary across fleet segments. (C) 2012 Elsevier Ltd. All rights reserved.