Vessel day scheme

An ‘effort based rights management scheme’ implemented by the eight‑member nations of the PNA, and other countries as agreed by the PNA, for waters under national jurisdiction. The scheme, originally established to manage the Western and Central Pacific tropical purse seine fishery, now includes the longline vessel days scheme. The VDS sets a total number of purse seine and longline fishing days then allocates these days among the parties who can sell their allocated fishing days at the minimum benchmark price that is determined by the parties. The purpose of the VDS is both biological and economic: to control effort within the sustainable limits of the resource while increasing economic benefit to the parties through the access fees paid by distant water fishing nations.

See also Fishing effort.

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