The Economics of Atlantic Highly Migratory Species
For-Hire Fishing Trips, July-November 2013
The for-hire sector plays a significant role in providing recreational fishing opportunities for Atlantic highly migratory species (HMS) such as tuna, billfish, swordfish, and sharks.
Because of the high cost of equipment needed to pursue HMS, many saltwater anglers find chartering a for-hire vessel to be the only affordable alternative.
In 2013, there were 3,968 licensed Atlantic HMS Charter/Headboat (CHB) permit holders from Maine to Texas that took an estimated 9,449 for-hire vessel trips in the Atlantic and Gulf of Mexico (not including Texas) to pursue HMS from July to November of 2013.
During this time period, NOAA Fisheries conducted a log-book study of randomly selected Atlantic HMS Charter/Headboat (CHB) permit holders to collect trip cost and earnings data.
Data were collected on 596 for-hire trips targeting Atlantic HMS.
Approximately 68 percent of HMS for-hire trips targeted a combination of pelagic species (most commonly yellowfin tuna, swordfish, or marlin) while 32 percent targeted coastal sharks.
Average charter fares for HMS charter boat (6 anglers or fewer) trips ranged from $1,223 in the Southeast (NC - FL) to $2,450 in the Northeast (ME - VA).
Net returns per trip ranged from a low of $528 in the Southeast to a high of $1,028 in the Gulf of Mexico (FL -TX).
Overall, the $19 million spent on HMS for-hire charter operations generated approximately $51 million in economic output along the Atlantic and Gulf of Mexico coasts.
The full report is available online here.