High fuel prices have eroded Vietnamese fishermen’s profits from deep-sea fishing trips which – once profitable – are now causing losses.
Since last year gas prices have gone up by 60 percent.
For a three-month trip for a pair of fishing boats, fuel alone cost VND320 million to VND480 million ($20,000 to $30,000), a ship owner who has just lost VND100 million ($6,250) on one such trip, said.
Tran Van Tan, another owner, said a trip that fetched a profit of over VND100 million ($6,250) last year caused a loss now.
As a result, many owners are wary of going out to sea. In Ba Ria-Vung Tau province’s Phuoc Tinh port alone, some 30 large vessels lie idle. Nguyen Van Beo, after a recent three-month fishing trip, lost over VND70 million ($4,375).
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High fuel prices have eroded Vietnamese fishermen’s profits from deep-sea fishing trips which – once profitable – are now causing losses.
