Fishing days allocated for longline vessels on Faroe Bank amidst ongoing regulations

The large longline vessels in group-3 are allocated a total of 40 fishing days on the Faroe Bank. With 21 fishing licenses in this group, each vessel only has two fishing days allocated. Consequently, the initial allocations of fishing days on the Faroe Bank have already occurred, nearly simultaneous with the licenses being issued by the Fisheries Agency.

Currently, fishing days on the Faroe Bank have been consolidated on two longline vessels, Stapin and Klakkur. However, not all licenses for the longline vessels have been issued yet.

According to the regulation governing fishing on the Faroe Bank this year, the longline vessels received 40 fishing days, while the large offshore vessels in group-4 received a total of 135 fishing days, and smaller vessels in group-5 received a total of 90 fishing days.

While the longline vessels have explored other areas, the offshore vessels have already been fishing on the Faroe Bank. The landing receipts collected by the Fisheries Agency provide insights into the fishing activity and prices.

Large offshore vessels in group-4 have caught 282 tons on the bank, including 111 tons of cod, 91 tons of haddock, and the rest including ling, saithe, and coley, generating around 6.9 million DKK in revenue, which equals approximately 25 DKK per kilo.

Meanwhile, smaller vessels in group-5 have landed a total of 323 tons, with 227 tons as cod and 45 tons as haddock, amounting to around 9 million DKK, or about 28 DKK per kilo.

The Fisheries Agency reports that nearly all fishing days for these groups have been utilized, with only 14 days remaining in group-4 and 10 days in group-5. The Faroe Bank has been a valuable addition for both longline vessels and offshore boats in recent years. Last year, they landed over 1,700 tons, generating around 42 million DKK, including approximately 900 tons of cod worth 30 million DKK.