Wreckfish ITQ Review South Atlantic Fishery Management Council

Wreckfish ITQ Review South Atlantic Fishery Management Council

Wreckfish ITQ Review South Atlantic Fishery Management Council Table of Contents Abbreviations ........................................................................................................................................... 1 List of Tables ............................................................................................................................................ 1 List of Figures .......................................................................................................................................... 1 No table of figures entries found. .............................................................................................................. 1 Executive Summary .................................................................................................................................. 1 1.0 Introduction and Background ............................................................................................................. 1 1.1 Legal requirements for the review ............................................................................................... 1 1.2 Pre-ITQ management .................................................................................................................. 3 1.3 ITQ program description ............................................................................................................. 4 1.3.1 ITQ Goals and Objectives ..................................................................................................... 4 1.3.2 ITQ Design and Structure ...................................................................................................... 6 1.3.3 Conclusions and Recommendations from Initial Review ....................................................... 7 2.0 Data Collection and Reporting within the Wreckfish ITQ Program ..................................................... 7 3.0 Environment ...................................................................................................................................... 8 3.1 Biological ................................................................................................................................... 8 3.2 Economic Environment ..............................................................................................................11 3.2.1 Shareholders............................................................................................................................11 3.2.2 Permits ....................................................................................................................................13 3.2.3 Vessels ....................................................................................................................................15 3.2.4 Dealers ....................................................................................................................................17 3.3 Social .........................................................................................................................................22 4.0 Eligibility and Participation in the Wreckfish ITQ Program .............................................................. 25 4.1 Overview ...................................................................................................................................26 4.2 Eligibility ...................................................................................................................................26 4.3 Participation in the IFQ program .................................................................................................26 5.0 Allocations, Transferability, and Caps within the Wreckfish ITQ Program ....................................... 27 5.1 Shares .........................................................................................................................................27 5.2 ITQ Coupons (Allocation) ..........................................................................................................28 5.3 Recreational Allocation of Wreckfish .........................................................................................30 5.4 Distributions of Landings, Revenues, and Shares ........................................................................30 5.5 Market Concentration and Market Power ....................................................................................32 6.0 Price Analyses ................................................................................................................................. 32 6.1 Overview ....................................................................................................................................32 6.2 Analysis and discussion...............................................................................................................33 1 June 26, 2018 6.3 Conclusions ................................................................................................................................37 7.0 Catch and Sustainability ................................................................................................................... 38 7.1 Overview ...................................................................................................................................38 8.0 Safety at Sea .................................................................................................................................... 38 9.0 New Entrants/Replacement Fishermen in the Wreckfish ITQ Program .............................................. 39 9.1 Discussion ..................................................................................................................................39 10.0 Monitoring and Enforcement in the Wreckfish ITQ Program .......................................................... 40 10.1 Overview .................................................................................................................................40 11.0 Administration and Cost Recovery in the Wreckfish ITQ Program ................................................. 40 11.1 Overview .................................................................................................................................40 12.0 Privilege Duration and Subsequent Distribution in the Wreckfish ITQ Program ............................. 41 12.1 Overview .................................................................................................................................41 13.0 Conclusions ................................................................................................................................... 43 13.1 Progress Towards Goals and Objectives ...................................................................................43 13.1 Suggested Modifications to the Wreckfish ITQ Program ..........................................................43 13.3 Future Research Needs .............................................................................................................43 14.0 References ..................................................................................................................................... 43 Appendix 1 Overview of review data sources .................................................................................... 1 2 June 26, 2018 Abbreviations Council South Atlantic Fishery Management Council ITQ Individual Transferable Quota FMP Fishery Management Plan LAPP Limited Access Privilege Program NMFS National Marine Fisheries Service SEFSC Southeast Fisheries Science Center SERO Southeast Regional Office 1 June 26, 2018 List of Tables Table 1.1. Wreckfish catch and effort, 1987-1990. ................................................................................ 3 1 June 26, 2018 List of Figures No table of figures entries found. 1 June 26, 2018 Executive Summary 1 June 26, 2018 1.0 Introduction and Background This review is intended to evaluate progress made in meeting the goals of the Wreckfish Individual Transferable Quota (ITQ) program. The review does not attempt to comprehensively evaluate management of the snapper-grouper fishery. The South Atlantic Fishery Management Council (Council) is required by law to review the ITQ program every five to seven years. The first official review of the wreckfish ITQ program was completed in 2009. This review is the first subsequent review of the program. This review examines how the wreckfish ITQ program has changed between the baseline time period (2009/2010 – 2011/2012 fishing years) and the review time period (2012/2013 – 2016/2017 fishing years) with respect to various social, economic, biological and administrative factors, and offers conclusions and recommended changes to the program based on the findings. The baseline time period corresponds to the 3 years following the first program review while the review time period generally corresponds to the 5 year time period after the allowable catch was significantly reduced and Snapper Grouper Amendment 20A was implemented (Amendment 20A). Data and information contained in this report were obtained from a variety of sources, including, but not limited to peer- reviewed literature, the Southeast Fisheries Science Center (SEFSC) coastal logbook program, SEFSC accumulated landings system, and National Institute of Occupational Safety and Health. This review constitutes the findings of the South Atlantic Council. 1.1 Legal requirements for the review The National Marine Fisheries Service

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