Christopher Liese Jack Isaacs Alex Miller

1. Economic Status, Performance, and Impacts of the Gulf of Mexico Shrimp Fishery in 2008Preliminary Results Christopher Liese Jack Isaacs Alex Miller NOAA Fisheries, Southeast Louisiana Department of Gulf States Marine Fisheries Science Center Wildlife and Fisheries Fisheries Commission Challenges of Natural Resource Economics and Policy 2010 New Orleans, Louisiana May 26-28, 2010

2. Outline Background Two 2008 Surveys Design, Population and Sampling, Implementation Survey Results: Vessel Averages Extrapolation to the Industry Economic Impacts

3. Side note: Landings and Revenue

4. Background 1 • Economic data collections few and far between • Local/State; small samples; no statistical design; not repeated; hence generally not comparable • Difficult population to survey (2002/04 surveys): Texas Rest of Gulf

5. Background 2 New survey approach in 2007: Minimalist approach Collect “bread and butter” annual economic data Standardized across the region Regularly and timely Mail survey Produce an Annual Report for the federally-permitted Gulf shrimp industry

6. Two Fleets: Inshore & “Federal”

7. Survey Design – Question Development

8. Balance sheet (point in time) Assets Liabilities Vessel and Gear (market value) Loans (outstanding amount) Equity

9. Cash flow statement (period of time) Incoming/Receipts Outgoing/Payments • From operations • Shrimp revenue • Other commercial fishing revenue • Non-operating • Government payments • Variable cost • Fuel • Crew (hired) • Other (supplies) • Fixed cost • Vessel/gear related • Overhead • Loan payments • Net cash flow (+)

10. Income statement (period of time) Revenue Expenditures • From operations • Shrimp revenue • Other commercial fishing revenue • Non-operating • Government payments • From operations • Fuel • Crew (hired) • Other (supplies) • Owner’s labor • Vessel/gear related- minus new investment • Overhead • Depreciation • Net revenue from operations • Non-operating • Interest payments • Profit

11. “Federal” Survey Instrument

12. Technical Memos (www.sefsc.noaa.gov/shrimpecon.jsp)

13. Two Fleets: Inshore & “Federal”

14. 2008 Inshore Survey

15. Inshore Survey Instrument

16. Inshore Survey Instrument, cont.

17. Population and Sampling

19. Problems Federal • Non-shrimp vessels • Inactive vessels • Crazy numbers Inshore • Recreational boats • Crazy numbers

20. Survey Results: Vessel Averages

21. Vessel Characteristics (2008)

22. Balance Sheet (2008)

23. Vessel Operation (2008)

24. Income Statement (2008)

25. Extrapolation to Total Shrimp Harvesting Sector in the Gulf

26. Fishery Total – Balance Sheet

27. Fishery Total – Cash Flow (2008)

28. Total Fishery – Impacts (2008)

29. Ideas or Questions?

32. Additional Material

33. Standardized Results and Trends Averages for the Active Gulf Shrimp Fleet

34. Sampling & Response Rate

35. Vessel Characteristics 2008 results are preliminary and could change in the final report.

36. Balance Sheet 2008 results are preliminary and could change in the final report.

37. Vessel Operation 2008 results are preliminary and could change in the final report.

38. Cash Flow Statement 2008 results are preliminary and could change in the final report.

39. Expenses in Percent of Total 2008 results are preliminary and could change in the final report.

40. Income Statement 2008 results are preliminary and could change in the final report.