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• 1. [Article] Risk Assessment of the Mediterranean Seabass and Seabream industry in Greece: A Stochastic Simulation Approach Based on insurance Claims

  The Mediterranean finfish aquaculture is strongly represented from the successful industrial development of the mass production of the Mediterranean seabass (Dicentrarchus labrax) and seabream (Spaurus ...

  Citation × Citation Citation Abstract Copy Title: Risk Assessment of the Mediterranean Seabass and Seabream industry in Greece: A Stochastic Simulation Approach Based on insurance Claims Author: Tzovenis, Ioannis, Sorgeloos, Patrick, Viaene, Jacques, Theodorou, John A., Kotsonis, Antonios The Mediterranean finfish aquaculture is strongly represented from the successful industrial development of the mass production of the Mediterranean seabass (Dicentrarchus labrax) and seabream (Spaurus aurata), with Greece as the major producer country, contributing with approximately 57% of the global farmed production of both species. Despite the difficulty to obtain information from the private and public sector about the aquaculture insurance claims, the analysis of insurance data is necessary to develop a risk management strategy of the industry. The aim of the present work is to identify the major risks affecting the seabass/seabream aquaculture by examining qualitative and quantitative insurance claims from the early developmental stage (mid-80s) up to the maturation of the Greek sector (2000). A risk assessment based on scenario quantification and Monte Carlo Simulation with the ZHA WORKS 4.2 QUANT software is used to reveal percentile statistics of 1 Year/Worst out of x Years aggregate loss and thus to "harden" the basis for decision taking. The use of the past insurance experience provides forecasting trends for risk avoidance in the future and contributes to a strategy development for the sustainability of the sector. Title: Risk Assessment of the Mediterranean Seabass and Seabream industry in Greece: A Stochastic Simulation Approach Based on insurance Claims Author: Tzovenis, Ioannis, Sorgeloos, Patrick, Viaene, Jacques, Theodorou, John A., Kotsonis, Antonios The Mediterranean finfish aquaculture is strongly represented from the successful industrial development of the mass production of the Mediterranean seabass (Dicentrarchus labrax) and seabream (Spaurus aurata), with Greece as the major producer country, contributing with approximately 57% of the global farmed production of both species. Despite the difficulty to obtain information from the private and public sector about the aquaculture insurance claims, the analysis of insurance data is necessary to develop a risk management strategy of the industry. The aim of the present work is to identify the major risks affecting the seabass/seabream aquaculture by examining qualitative and quantitative insurance claims from the early developmental stage (mid-80s) up to the maturation of the Greek sector (2000). A risk assessment based on scenario quantification and Monte Carlo Simulation with the ZHA WORKS 4.2 QUANT software is used to reveal percentile statistics of 1 Year/Worst out of x Years aggregate loss and thus to "harden" the basis for decision taking. The use of the past insurance experience provides forecasting trends for risk avoidance in the future and contributes to a strategy development for the sustainability of the sector. Close

• 2. [Article] The Economics of Norwegian Salmon Farming: A Review of 30 years of Production Growth

  Power Point presentation.

  Citation × Citation Citation Abstract Copy Title: The Economics of Norwegian Salmon Farming: A Review of 30 years of Production Growth Author: Rødseth, Kenneth Løvold, Guttormsen, Atle G. Power Point presentation. Title: The Economics of Norwegian Salmon Farming: A Review of 30 years of Production Growth Author: Rødseth, Kenneth Løvold, Guttormsen, Atle G. Power Point presentation. Close

• 3. [Article] Use of decision trees in analysis of the potential gain from approved zone status under the ETJ shellfish health regime

  Research Paper

  Citation × Citation Citation Abstract Copy Title: Use of decision trees in analysis of the potential gain from approved zone status under the ETJ shellfish health regime Author: Sutherland, Roy, Revell, Brian Research Paper Title: Use of decision trees in analysis of the potential gain from approved zone status under the ETJ shellfish health regime Author: Sutherland, Roy, Revell, Brian Research Paper Close

• 4. [Article] Aquaculture and Food Security - Can Fish Farming Fill the Gap?

  While aquaculture has provided economic and nutritional benefits to millions, there are concerns that unconstrained sector expansion and intensification, coupled with its ecological and social impacts, ...

  Citation × Citation Citation Abstract Copy Title: Aquaculture and Food Security - Can Fish Farming Fill the Gap? Author: Troell, Max While aquaculture has provided economic and nutritional benefits to millions, there are concerns that unconstrained sector expansion and intensification, coupled with its ecological and social impacts, globalization of markets, and climate change, may have undesirable impacts on the resilience of social-ecological systems. A significant part of the aquaculture expansion is expected to occur in coastal areas, where it directly affects resource systems already experiencing large pressure from human activities. Thus, there is a risk that the anticipated benefits from aquaculture may come at the expense of increased pressure on coastal ecosystem services, thus jeopardizing coastal people’s food security and livelihoods. Further, intensification may also indirectly increase the dependence on marine ecosystems through usage of fish resources as feeds. The practice of intensive farming of fish and crustaceans is characterised by inputs of high quality resources and energy and release of effluents. The industry continues to improve performance through research on food development and system designs, and recent initiative, the “Aquaculture dialogue”, attempts to identify sustainability criteria for a selection of cultured species. In addition FAO have recently moved beyond their earlier established “code of conducts” and are now developing a broader systematic perspective on aquaculture, i.e. “Ecosystem approach to aquaculture”. This presentation will discuss how aquaculture may impact on social-ecological resilience, more broadly and also in connection to coastal aquaculture development, and specifically considers the intensification of production methods. In connection to this some recent sustainability tools/indicators will briefly be discussed out from this perspective. Title: Aquaculture and Food Security - Can Fish Farming Fill the Gap? Author: Troell, Max While aquaculture has provided economic and nutritional benefits to millions, there are concerns that unconstrained sector expansion and intensification, coupled with its ecological and social impacts, globalization of markets, and climate change, may have undesirable impacts on the resilience of social-ecological systems. A significant part of the aquaculture expansion is expected to occur in coastal areas, where it directly affects resource systems already experiencing large pressure from human activities. Thus, there is a risk that the anticipated benefits from aquaculture may come at the expense of increased pressure on coastal ecosystem services, thus jeopardizing coastal people’s food security and livelihoods. Further, intensification may also indirectly increase the dependence on marine ecosystems through usage of fish resources as feeds. The practice of intensive farming of fish and crustaceans is characterised by inputs of high quality resources and energy and release of effluents. The industry continues to improve performance through research on food development and system designs, and recent initiative, the “Aquaculture dialogue”, attempts to identify sustainability criteria for a selection of cultured species. In addition FAO have recently moved beyond their earlier established “code of conducts” and are now developing a broader systematic perspective on aquaculture, i.e. “Ecosystem approach to aquaculture”. This presentation will discuss how aquaculture may impact on social-ecological resilience, more broadly and also in connection to coastal aquaculture development, and specifically considers the intensification of production methods. In connection to this some recent sustainability tools/indicators will briefly be discussed out from this perspective. Close

• 5. [Article] Application of a Dynamic Stochastic Adaptive Bioeconomic Model to Evaluate the Economics of Offshore Bluefin Tuna Aquaculture

  Over the past fifteen years, the market for bluefin tuna has evolved in an attempt to further enhance the economic value of bluefin tuna landings. Historically, the US East Coast has been a major supplier ...

  Citation × Citation Citation Abstract Copy Title: Application of a Dynamic Stochastic Adaptive Bioeconomic Model to Evaluate the Economics of Offshore Bluefin Tuna Aquaculture Author: Shamshak, Gina Louise, Anderson, James L. Over the past fifteen years, the market for bluefin tuna has evolved in an attempt to further enhance the economic value of bluefin tuna landings. Historically, the US East Coast has been a major supplier of high quality bluefin tuna to Japan, the primary market for sashimi grade tuna. To date, many questions regarding the economic feasibility of offshore aquaculture, and in particular offshore bluefin tuna farming in the United States, remain unanswered. This research assesses the economic feasibility of an offshore bluefin tuna aquaculture industry located on the East Coast of the US by developing a dynamic stochastic adaptive bioeconomic model of such an offshore enterprise. The bioeconomic model incorporates the biological constraints of the species, the interaction of relevant economic parameters and constraints, and stochastic sources of risk, to solve for the profit maximizing behavior of a farmed bluefin tuna producer. This research identifies the optimal harvest schedule for an offshore bluefin tuna farming facility that maximizes the net present value of the operation under a variety of economic, biological and regulatory conditions. Economic feasibility is analyzed using profitability indicators including net present value (NPV) and internal rate of return (IRR). This research is relevant given the continued expansion of bluefin tuna aquaculture globally, the increasing demand for high-quality bluefin tuna, and the uncertainty regarding the economic feasibility of an offshore bluefin tuna aquaculture industry in the United States. Title: Application of a Dynamic Stochastic Adaptive Bioeconomic Model to Evaluate the Economics of Offshore Bluefin Tuna Aquaculture Author: Shamshak, Gina Louise, Anderson, James L. Over the past fifteen years, the market for bluefin tuna has evolved in an attempt to further enhance the economic value of bluefin tuna landings. Historically, the US East Coast has been a major supplier of high quality bluefin tuna to Japan, the primary market for sashimi grade tuna. To date, many questions regarding the economic feasibility of offshore aquaculture, and in particular offshore bluefin tuna farming in the United States, remain unanswered. This research assesses the economic feasibility of an offshore bluefin tuna aquaculture industry located on the East Coast of the US by developing a dynamic stochastic adaptive bioeconomic model of such an offshore enterprise. The bioeconomic model incorporates the biological constraints of the species, the interaction of relevant economic parameters and constraints, and stochastic sources of risk, to solve for the profit maximizing behavior of a farmed bluefin tuna producer. This research identifies the optimal harvest schedule for an offshore bluefin tuna farming facility that maximizes the net present value of the operation under a variety of economic, biological and regulatory conditions. Economic feasibility is analyzed using profitability indicators including net present value (NPV) and internal rate of return (IRR). This research is relevant given the continued expansion of bluefin tuna aquaculture globally, the increasing demand for high-quality bluefin tuna, and the uncertainty regarding the economic feasibility of an offshore bluefin tuna aquaculture industry in the United States. Close