FISHERY BULLETIN: VOL. 82, NO. 2 



:  , 1975 1976 1977 197 1 



Investment Period: tike [TEBRSi 



« 1971 TO 1960 * 1977 TO 1950 - 1979 10 1380 

 2EF;0 LIME BODED FOR REFE 



FIGURE 7. — Net revenue for a steel vessel 20.1 to 21.5 m long 

 operating out of Texas ports by investment period. 



tors should, however, bear in mind that based on 

 this sample data similar-sized vessels built of wood 

 are not feasible ventures. 



It can be inferred from this study that in high 

 inflationary periods, shrimp producers should 

 avoid newly financed vessels. The resultant in- 

 creases in costs of equity and debt capital are such 

 that economic profit is eliminated. Investing in 

 used vessels may be a viable alternative. 



Results from this study further indicate that the 

 economic performance of steel vessels is far 

 superior to that of wooden vessels. Steel vessels 

 can withstand adverse weather conditions much 

 better than wooden ones and as a result, can spend 

 longer days in offshore fishing. Steel vessels 

 showed higher landings per trip than similar-sized 

 wooden vessels. Therefore, the extra expense to 

 purchase steel vessels may prove a worthy invest- 

 ment. 



ACKNOWLEDGMENTS 



This work is the result of an accumulation of 

 research sponsored in part by the Texas A&M 



1171 19 1973 1 974 1975 1976 1977 1978 1979 19S0 

 Investment Period: time iTERRSi 



1971 TO 1980  1977 TO 1980 <■ 1979 TO 1980 

 ZEF;0 LINE BODED FOR REFERENCE 



FIGURE 8. — Net revenue for a steel vessel 21.6 to 23.0 m long 

 operating out of Texas ports by investment period. 



University Sea Grant College Program and the 

 National Marine Fisheries Service, NOAA, with 

 the Texas Agricultural Experiment Station. 



LITERATURE CITED 



CAILLOUET, C. W.. AND F J. PATELLA. 



1978. Relationship between size composition and ex-vessel 

 value of reported shrimp catches from two Gulf Coast 

 States with different harvesting strategies. Mar. Fish. 

 Rev. 40(2):14-18. 



GATES, J. M., AND J. M. D'EUGENIO. 



1975. Costs and returns of fisherman in the Massachusetts 

 inshore lobster fishery. Univ. R.I., Dep. Resour. Econ., 

 Mar. Reprint 60. 



Griffin, w. L., R. D. lacewell, and w. a. Hayenga. 



1974. Estimated costs, returns, and financial analysis: 

 Gulf of Mexico shrimp vessels. Mar. Fish. Rev. 36( 12):l-4. 



Griffin, W. L., and J. P. Nichols. 



1976. An analysis of increasing costs to Gulf of Mexico 

 shrimp vessel owners: 1971-1975. Mar. Fish. Rev. 

 38(3):8-12. 



Griffin, W L., n. J. Wardlaw, and J. R Nichols. 



1976. Economic and financial analysis of increasing costs 

 in the Gulf shrimp fleet. Fish. Bull., U.S. 74:301-309. 



Griffin, w. l., J. P. Nichols, R. G. Anderson, J. E. 



BUCKNER, AND C. M. ADAMS. 



1978. Costs and returns data: Texas shrimp trawlers. Gulf 

 of Mexico, 1974-1975. Texas A&M Univ., Sea Grant Coll. 

 Program Rep. TAMU-T-78-003. 



372 



