There has been a major change in the freezer trawler industry in Iceland since it began in the early 1980s. The share of freezer trawlers in cod has decreased significantly and today it is only caught as a by-catch when fishing for other species such as redfish, saithe and halibut. In 1992, there were most freezer trawlers in the Icelandic fleet, 35 in number, but today they are 23 and declining.
The reasons for the declining share of freezer vessels in the cod fishery can be traced to rising oil prices, high labor costs compared to land processing and changes in fish markets, where there has been an increased demand for fresh fillets and extra raw materials. Uncertainty in the environment of the fishing industry and the increase in fishing fees, however, have prevented the necessary investment, which is a prerequisite for the development of equipment and products of freezer vessels. The vessels are up to date and it is time to renew the fleet, if it is to withstand competition in the production of products on the market that pay higher product prices and withstand competition in the processing of catfish on land.
The imposition of fishing fees has caused uncertainty and reduced the efficiency of freezer trawlers, which has prevented investment in the industry, as well as a share-based system that does not encourage investment in technology or product development. Freezer trawlers are important to Icelanders, and although their share of cod and haddock has been declining, it must continue to be economical to fish other species with processing vessels. Species such as redfish and halibut are well suited for processing such as this, as distant targets will hardly be retrieved except with freezer trawlers.
Matís has recently published report which is written following analytical work to present a picture of the various factors that weigh most heavily in the operation of freezer trawlers in Iceland. The report is intended to support decision-making regarding investment in the fisheries sector in the future and to clarify which aspects of the operation of freezer trawlers are most important. The report can be used in discussions on changes to the fisheries management system and it will be possible to use the results of the project to assess the impact of changes in various factors. The report is not limited to freezer trawlers and can be used for comprehensive policy-making in the fisheries sector, and the results are useful to both shipowners and politicians in decision-making. The main factors that are crucial in this context concern the value of the catch, the fishermen's wages and the fishing fee. The data collected in the project have been used in recent decisions on changes in the fishing patterns of Icelandic fishing companies. This is the final report of the project "Investment management in freezer trawler operations", which was prepared in collaboration with HB Grandi with support from the AVS Fisheries Research Fund with grant S 007-12.