Draft Economic Results for Active Gulf Shrimp Fleet 2014-2019

DRAFT Economic Results: Averages for the Active Gulf Shrimp Fleet 2014-2019 (with 5-year Average)*
Active Gulf Shrimp Fleet
# of Observations

2014
344

2015
325

2016
319

2017
365

2018
325

2019
267

5-year Average

Vessel Characteristics
Length (feet)
Gross tons
Horse power
Year built
Hull material - Steel
Refrigeration - Freezer

68
103
544
1988
77%
62%

71
111
581
1989
84%
66%

69
105
551
1988
77%
69%

69
106
582
1988
79%
68%

70
111
583
1988
78%
71%

71
112
575
1990
83%
76%

70
109
574
1989
80%
70%

State of Owner - Florida
State of Owner - Alabama or Mississippi
State of Owner - Louisiana
State of Owner - Texas
State of Owner - Other

16%
17%
28%
38%
2%

14%
15%
28%
41%
3%

14%
17%
28%
41%
0%

14%
13%
29%
44%
1%

17%
18%
25%
37%
3%

12%
16%
26%
45%
1%

14%
16%
27%
41%
2%

$266,607
$278,134
$61,245

$293,156
$303,799
$36,768

$282,817
$279,308
$24,536

$288,923
$283,167
$36,257

$323,847
$290,211
$35,259

$322,981
$307,834
$41,807

$302,345
$292,864
$34,926

$21,849

$22,803

$21,705

$16,114

$21,342

$17,141

$19,821

$244,758

$270,353

$261,112

$272,809

$302,505

$305,840

$282,524

39%

46%

42%

38%

46%

47%

44%

51%
3.2

42%
3.3

45%
3.2

45%
3.3

43%
3.3

40%
3.3

43%
3.3

Actively shrimping
Days at sea - Gulf shrimping

100%
167

100%
166

100%
172

100%
170

100%
168

100%
169

100%
169

Shrimp landed (Gulf pounds)

72,731
45,378

85,825
48,497

78,178
52,306

90,431
47,668

94,563
52,257

81,233
52,012

86,046
50,548

Shrimp price ($ per pound)
Fuel price ($ per gallon)

5.32
3.22

3.29
2.06

3.71
1.83

3.60
2.06

3.38
2.36

3.51
2.12

3.50
2.09

Fuel efficiency I - Shrimp pounds per gallon
Fuel efficiency II - Seafood revenue per gallon

1.6
8.87

1.8
6.19

1.5
5.81

1.9
7.19

1.9
6.45

1.6
5.66

1.7
6.26

Balance Sheet (end of year)
Assets - Market value of vessel
Original value of vessel (purchase price)
Implicit permit value
Liabilities - Loan on vessel
% of vessels with loan
Equity - Owner's equity in vessel
Insurance coverage (% of vessels)

Vessel Operation
Owner-operator
Crew number (vessel-gear form)

Fuel use (gallons)

Fleet Averages

1 of 2

DRAFT Economic Results: Averages for the Active Gulf Shrimp Fleet 2014-2019 (with 5-year Average), cont.*
(in USD unless otherwise noted)
# of Observations

Active Gulf Shrimp Fleet
2014
344

2015
325

2016
319

2017
365

2018
325

2019
267

5-year Average

Cash Flow
Inflow - Total
Shrimp revenue - GOM
Shrimp revenue - SAT
Non-shrimp revenue
Government payments received (shrimp related)
DWH-related payments received

408,738
386,881
5,943
9,674
558
5,683

352,225
282,197
6,945
11,295
521
51,267

376,962
290,425
3,621
10,102
391
72,423

346,037
325,284
8,688
8,536
54
3,476

348,233
319,261
11,578
6,016
519
10,858

306,917
285,462
4,767
3,939
87
12,662

346,075
300,526
7,120
7,978
314
30,137

Outflow - Total
Fuel
Other supplies
Crew & captain (hired)
Regular maintenance (vessel and gear)
Major repair and haul-out
Insurance
Overhead
Interest payments made (on vessel loans)
Principal payments made (on vessel loans)
New investments and upgrades (in vessel)

348,508
146,034
32,369
101,957
25,391
9,411
7,650
14,730
1,995
4,577
4,393

285,690
99,745
32,363
78,203
26,546
10,550
9,481
15,734
1,337
5,684
6,045

296,133
95,937
36,123
82,347
29,202
12,340
8,482
20,397
951
4,038
6,317

300,566
98,382
35,548
96,365
25,854
11,971
7,959
14,774
1,016
3,965
4,731

310,559
123,134
30,618
87,125
27,009
8,784
9,325
13,828
1,041
3,902
5,793

283,125
110,012
28,380
78,765
25,468
11,939
9,627
12,690
567
2,267
3,410

295,215
105,442
32,606
84,561
26,816
11,117
8,975
15,485
983
3,971
5,259

Net Cash Flow (excluding taxes)

60,230

66,535

80,828

45,472

37,674

23,792

50,860

Non-Cash Cost Estimates
Owner's vessel time
Depreciation

16,028
9,043

10,956
7,768

12,063
8,902

11,605
5,831

11,353
6,345

9,798
6,277

11,155
7,024

Revenue from Operations

402,497

300,437

304,147

342,508

336,855

294,168

315,623

Costs of Operations
Variable costs - Non-Labor (fuel, supplies)
Variable costs - Labor (hired, owner)
Fixed costs (maint., repair, insure, overh., depreci.)

362,614
49.2%
32.5%
18.3%

291,347
45.3%
30.6%
24.1%

305,793
43.2%
30.9%
25.9%

308,289
43.4%
35.0%
21.5%

317,520
48.4%
31.0%
20.6%

292,955
47.2%
30.2%
22.5%

303,181
45.5%
31.5%
22.9%

Net Revenue from Operations

39,883

9,090

(1,645)

34,219

19,335

1,214

12,442

Profit or Loss (before tax)

44,129

59,541

70,217

36,732

29,672

13,395

41,911

Income Statement

Fleet Returns
Economic Return
Return on Equity

15.0%
18.0%

3.1%
22.0%

(0.6%)
26.9%

11.8%
13.5%

6.0%
9.8%

0.4%
4.4%

4.1%
15.3%

* Note: These DRAFT numbers have been derived using the same definitions, methodology, and data sources
as presented in previous technical memorandums on the economics of the Federal Gulf shrimp fishery, such as:
Liese, Christopher. 2014. Economics of the Federal Gulf Shrimp Fishery - 2012. NOAA Technical Memorandum
NMFS-SEFSC-668, 26 p. DOI : http://doi.org/10.7289/V5SB43QV
Liese, Christopher, and Michael D. Travis. 2010. The Annual Economic Survey of Federal Gulf Shrimp Permit
Holders: Implementation and Descriptive Results for 2008. NOAA Technical Memorandum
NMFS-SEFSC-601, 99 p.
All dollar values are inflation adjusted to nominal 2019 U.S. dollars using the U.S. Bureau of Economic Analysis’
Implicit Price Deflator for GDP.

2 of 2