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Abstract
Because the San Pedro wetfish fleet is shrinking and is not
yielding good wages for fishermen or good returns to investors, it
needs to improve its economic state. The fleet is antiquated,and
one way it can improve itself is by constructing new, efficient
vessels, both for replacement of vessels and for expansion of the
fleet to harvest presently underexploited stocks of jack mackerel
and anchovies in the California Current. The study reported here
investigated the feasibility of this approach. It found that, at present
rates of catch and prices of fish, the construction of new vessels is
not economically feasible--even if the construction is subsidized.
It also found, however, that expansion of the fleet through acquisition
of surplus vessels from other fisheries is feasible, given
sufficient demand for wetfish at present prices.