Russia is planning to run a new auction for the sale of crab fishing investment quotas in October, which will set quotas for the next 15 years.
The Russian Federal Agency for Fisheries has been signaling throughout 2023 that it planned to run investment quota auctions for several species in the country. In June, Russian Federal Agency for Fisheries Head Ilya Shestakov announced the agency was working to organize auctions for the remaining 50 percent of crab quotas.
“Now the regulatory legal framework is being adopted, [and] we plan to hold crab auctions for the main types of objects this year,” Shestakov said.
Russia first held auctions for crab quotas in 2019, granting 46,000 metric tons (MT) of quota via 41 lots to fishing companies.
Now, Fishnews reports that the country is planning to hold electronic auctions for the remaining quota from 16 to 18 October. Applications to participate in the auction started on 26 September and will last until 11 October.
Winners of the auctions will be required to invest in either a fishing vessel built at a Russian shipyard or a “logistics complex," such as transport refrigerators or processing facilities. Auction winners will be allowed to use the acquire quotas by next year.
The type of object to be built will depend on the lot being purchased. All told, 23 new fishing vessels, three large logistics complexes, and one small one are to be constructed through the new auctions ...
Photo courtesy of Onego Shipyard
