closer to 0 as the lowest value of CR/BER shows a segment 12–18. This result
shows that in long-term, the sector would not be profitable.
Indicator values for CR/BER for the period 2009–2013 are presented in
Table 25.13. When analyzing the data should be taken into account that only the
results from 2013 were obtained following the recommendations of Guidelines for
the analysis of the balance between fishing capacity and fishing opportunities
according to Art 22 of Regulation (EU) No 1380/2013 of the European Parliament
and the Council on the Common Fisheries Policy (COM(2014) 545 final) (NAFA
2013).
Table 25.14 presents the subsidies granted to each fleet segment for the period
shown.
Table 25.10 Return on investment (ROI) (NAFA 2013)
Values for 2013 year (€’000)
Fleet
segment
0–6
Fleet
segment
6–12
Fleet
segment
12–18
Fleet
segment
18–24
Fleet
segment
24–40
Income from landings þ other
income
a
227.5
1099.24
1370.04
702.81
1531.09
Crew costs þ unpaid labour
costs þ fuel costs þ repair
& maintenance
costs þ other variable costs þ
non variable costs
161.87
618.41
1279.33
570
854.61
Net profit
65.62
480.84
90.71
132.81
676.48
Fleet capital asset value (vessel
replacement value þ estimated
value of fishing rights)
994.98
3689.50
4759.04
1394.53
4480.35
ROI
6.6%
13.03%
1.91%
9.52%
15.10%
ROI- risk free long term
interest rate
b
0.91%
7.37%
À3.78%
3.83%
9.41%
a
Data on direct subsidies are excluded from the calculation
b
Average risk free long term interest rate for Bulgaria for the period 2008–2012 (source: European
Central Bank) – 5.69%
Table 25.11 Return on
investment (ROI) from 2009
to 2013 (NAFA 2013)
Year
Segment
0–6
6–12
12–18
18–24
24–40
2009
0.12
0.66
0.07
0.43
0.26
2010
0.11
0.09
0.11
À0.01
0.07
2011
0.45
0.10
À0.01
À0.06
À0.06
2012
0.04
À0.47
1.02
1.55
1.05
2013 (%)
6.6
13.03
1.91
9.52
15.10
25 Governance and Socio Economic Implications of the Black Sea Small Scale. . .
429
shows that in long-term, the sector would not be profitable.
Indicator values for CR/BER for the period 2009–2013 are presented in
Table 25.13. When analyzing the data should be taken into account that only the
results from 2013 were obtained following the recommendations of Guidelines for
the analysis of the balance between fishing capacity and fishing opportunities
according to Art 22 of Regulation (EU) No 1380/2013 of the European Parliament
and the Council on the Common Fisheries Policy (COM(2014) 545 final) (NAFA
2013).
Table 25.14 presents the subsidies granted to each fleet segment for the period
shown.
Table 25.10 Return on investment (ROI) (NAFA 2013)
Values for 2013 year (€’000)
Fleet
segment
0–6
Fleet
segment
6–12
Fleet
segment
12–18
Fleet
segment
18–24
Fleet
segment
24–40
Income from landings þ other
income
a
227.5
1099.24
1370.04
702.81
1531.09
Crew costs þ unpaid labour
costs þ fuel costs þ repair
& maintenance
costs þ other variable costs þ
non variable costs
161.87
618.41
1279.33
570
854.61
Net profit
65.62
480.84
90.71
132.81
676.48
Fleet capital asset value (vessel
replacement value þ estimated
value of fishing rights)
994.98
3689.50
4759.04
1394.53
4480.35
ROI
6.6%
13.03%
1.91%
9.52%
15.10%
ROI- risk free long term
interest rate
b
0.91%
7.37%
À3.78%
3.83%
9.41%
a
Data on direct subsidies are excluded from the calculation
b
Average risk free long term interest rate for Bulgaria for the period 2008–2012 (source: European
Central Bank) – 5.69%
Table 25.11 Return on
investment (ROI) from 2009
to 2013 (NAFA 2013)
Year
Segment
0–6
6–12
12–18
18–24
24–40
2009
0.12
0.66
0.07
0.43
0.26
2010
0.11
0.09
0.11
À0.01
0.07
2011
0.45
0.10
À0.01
À0.06
À0.06
2012
0.04
À0.47
1.02
1.55
1.05
2013 (%)
6.6
13.03
1.91
9.52
15.10
25 Governance and Socio Economic Implications of the Black Sea Small Scale. . .
429