The Tribune

• Soaring fuel costs lead to ‘tripling’ of expenses

• Now costing $30k ‘before boat leaves the dock’

• Sector may think twice on summer fishing trips

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

Bahamian fishermen, who have just enjoyed “the best lobster season for 30 years”, are now fretting over a potentially fallow summer due to a “tripling” of expenses brought on by soaring fuel prices.

Keith Carroll, the Bahamas Commercial Fishers Alliance’s (BCFA) vice-president, told Tribune Business in a recent interview that the industry may think twice about making trips to catch other species between now and crawfish season’s August 1 re-opening when they will have to “spend almost $30,000 before they leave the dock”.

Disclosing that the sector was fortunate to largely escape soaring global fuel prices prior to lobster season’s end-March closure, he said: “It didn’t affect us that much during lobster season because we had a good price on the crawfish. The season closed at $21 a pound, and we’re usually at $15-$16 a pound. Even though the price of fuel was higher than normal, the price of lobster was higher than normal. It almost balanced out.

“This season, for most fishermen, was the best season we’ve had for about 30 years production wise and on price. We got rid of the poachers, we got rid of the Dominicans, foreigners working on Bahamian vessels, and then with the Royal Bahamas Defence Force we didn’t see one poaching vessel this season, not one Dominican boat. 

“However, it feels like we got rid of one problem and then another one comes along. It was COVID-19, and then that started to ease up, and then fuel prices go up and all kinds of different things.” As a result, Mr Carroll said a buoyant lobster season has swiftly given way to uncertainty and how fishermen and their families will support themselves over the next three months until crawfish season re-opens.

The fish species they are allowed to catch during this period typically generate less financial rewards, and he added: “We don’t know how it’s going to be this summer. Crawfish season is closed and we have to look for fish.” While sales remained strong through Easter, due to Good Friday and holiday traditions, Mr Carroll said fishermen are concerned consumers may cut back on consumption due to the prevailing high prices moving forward.

“Snapper usually goes for $180 a bag. Now it’s almost up to $300,” he told Tribune Business. “The fuel and the diesel, diesel is $6.76 a gallon and it’s usually around $3.15 to $3.20. Fuel has doubled in price. The fishermen need to put fuel in to go fishing. To tell you the truth, I don’t know it many fishermen will go back out.”

Detailing the typical costs incurred by fishing vessels in stocking up on fuel and provisions before they head out, Mr Carroll said: “You put 2,000 gallons of diesel in your boat, that’s [close to] $14,000. You have to buy 1,000 gallons of gasoline, that’s $6,000 to $7,000, and then there are groceries, motor oil, water. You’re going to have expenses of almost $30,000 before you leave the dock.

“And if you go fishing this summer, you are not going to make as much money as if you are going for lobster. We don’t know what is going to happen. We may have to wait until lobster season starts again and hope the price goes up. In the summer, you go out and make one or two trips. It’s not the same money; it’s not that much.

“What you spent last year for fishing, this year you will have to spend double or triple to make those trips. If you spent $1,000 last season to make $5,000, you now have to spend $3,000 to make the same $5,000. The expense has tripled.”

Paul Maillis, the National Fisheries Association’s (NFA) secretary, told Tribune Business that increased fuel costs were “a killer” for himself and other operators.”To think that last year we were able to get diesel at $3.40 a gallon or thereabouts, and now it’s a $5 and, in some places in the Family Islands it’s even more expensive, it really cuts into profitability and makes it a lot harder to get a trip going because you have to invest so much more,” he said.

“The fuel is not the only thing to worry about. The price of fuel is causing everything to go up. I’m finding my trips to be costing an extra $500 to $1,000, and I’m just a small fisherman. My trips are only about three to four days. Some of the guys are going out for three to four weeks, sometimes even longer. Their fuel costs and prices are going up exponentially already.

“It’s so hard not to pass that increased cost on to the customer. Fishing is already expensive in many cases, and I hate to be part of inflation. We’ve not done that so far. If these cost increases persist for weeks longer, fishermen may have to adjust their prices.”

Mr Maillis echoed Mr Carroll’s assessment of crawfish season, adding that Bahamian lobster prices and associated demand had benefited from COVID-19 lockdowns and other restrictions that had impacted competitor markets such as South Africa, Australia and the US west coast.

“They have had serious lockdowns and restrictions on fishing that helped to narrow the market and create high demand and prices for our product,” he said. Mr Maillis added that The Bahamas had also benefited from its Marine Stewardship Council (MSC) designation, which affirms the quality of its lobster exports.