Loss of Business Lawsuits – Overfishing and Illicit Trade in Marine Resources
Overfishing and Illicit trade in marine resources are issues that have affected fisheries and have resulted in commercial fishing lawsuits. This article explores how overfishing and piracy affect the industry and the resulting suits filed by commercial fishermen. This article also provides a summary of how a commercial fisherman can protect his rights and interests. Read on to find out how to protect yourself from lawsuits.
Overfishing is a common problem in the commercial fishing industry and is responsible for several problems. It causes the depletion of many species and their habitat, as well as the destruction of keystone species. When fish populations are overexploited, these species are wiped out and their reproductive success is reduced. The effect on other species is often more profound, with the loss of keystone species causing a chain reaction of ecological effects.
As a result of overfishing, the vast majority of large fish have been wiped out of the world’s oceans. With a soaring population along the coast, recreational fishing has experienced rapid growth. With a growing number of well-equipped vessels targeting a finite number of fish, recreational angling is expected to grow dramatically. But even in the U.S., the problem of overfishing has been evident for years. In the South Atlantic, for example, the recreational marine fishery is the largest in the nation.
Illicit trade in marine resources
Illicit trade in marine resources is a growing concern with a wide-ranging impact on the economy. Not only is it detrimental to the health of fish stocks, but it also affects the livelihoods, jobs, and incomes of commercial fishermen. The economic impact of the trade is enormous, resulting in billions of dollars in lost revenue for countries. In addition, it makes a small number of businesses and operators rich. This is why increased transparency and accountability in supply chains are needed.
While these two forms of illegal activity can seem similar, there are key differences. IUU fishing and organized crime are not always directly related. While IUU fishing may be a symptom of organized crime, it can have negative consequences on individual citizens, governments, and nature. Illicit fishing, in particular, may involve fishers involved in drug smuggling. Moreover, these fishing vessels are often used as active crews or disguises for criminals.
Impacts on fisheries
Economic and social impact estimates have found that illegal trade of marine resources can have a US$25.5 to $49.5 billion economic impact per year. These estimates vary based on the economic multiplier. They also fail to account for the unreported catches. Unreported catches are most likely entering the illicit trade system. Consequently, the impact on fisheries is substantial and may lead to the collapse of some economies.
The globalization of the fisheries industry has made it highly vulnerable to a range of shocks. Longer supply chains mean more exposure to various shocks. These lawsuits can negatively affect the sustainability of fisheries in various ways. However, they are not the only source of uncertainty. The global economy is highly dependent on fresh seafood. This has adverse impacts on fisheries at all scales.
Suits filed by commercial fishermen
A pair of Maine commercial fishermen is suing the government over a recent ban on fishing. The ban is in the Georges Bank area of the North Atlantic Ocean, a place President Obama designated as a marine national monument in 2016. They claim that the ban violates the Antiquities Act by removing the commercial fisheries from the region. The ban also threatened the existence of rare fish and endangered marine mammals. The Biden administration has rescinded the Obama-era ban, but the fishermen say the damage is already done.