The tuna fishery is the most important fishery both in terms of scale and economics in the RMI, with a recorded high catch in 1999 at 80,000 tons of mixed tuna (~ US$4 Million in national revenue). The Marshall Islands Marine Resources Authority (MIMRA) is charged with the responsibility and development of the tuna fishery in the RMI. The fishery comprises longline, purse seine, and pole-and-line vessels fishing under various access arrangements. In 2005, the catch by RMI purse seine fleets increased by ~17% from 2004 catch throughout the WCPFC Convention Area.
Within the RMI EEZ, catch by foreign purse seine and pole-and-line vessels decreased by ~4% and 60%, respectively, while there was a significant increase in the longline catch. Additionally, there was no fishing activity reported for the domestic longline fleet in 2005.
There are a number of locally-based longline vessels managed by a joint venture
The national purse seine fleet is based out of Majuro and fishes throughout the region under the FSM Arrangement. The Joint Venture between MIMRA and Koo’s Fishing Company, Ltd. (KFC) is now fully operational with the vessel, Marshalls 201, newly-registered and fishing under the FSM Arrangement. Another recent and noteworthy domestic development issue is that of the RMI’s effort to revitalize the former PMOP loining plant, which at one time had provided much-needed employment opportunities and contributed around $5-6 million annually to the RMI GDP.
It is part of the RMI’s national aspirations to further ensure economic development by once again creating job opportunities. The RMI recently signed a sub-lease agreement with Shanghai Deep Sea Fisheries Company, Ltd. to rehabilitate the loining plant. While it is only in its initial phase, future plans include the securing of raw materials for processing and this will entail the development of a locally-based fleet.