Brexit Off-register Capacity scheme open for application

The Brexit Off-register Capacity scheme has opened for applications. Off-register or latent capacity is fishing capacity that is licensed for use but not currently in operation for a variety of reasons such as vessels being lost at sea, damaged or in need of repair/upgrade and up for sale.

The scheme complements the Brexit Voluntary Permanent Cessation Scheme and has the aim of reducing the risk posed by re-entry to the fleet through activating off-register capacity. This would potentially jeopardise any benefits in terms of profitability for those vessels remaining in the fleet following from the removal of fishing capacity through decommissioning.

The Off-register Capacity scheme was one of the key recommendations of the Seafood Taskforce Report, established by the Minister for Agriculture, Food, and the Marine Charlie McConalogue TD.  The Task Force was set up to consider measures to mitigate the impacts of the fish quota share reductions, arising from the EU/UK Trade & Cooperation Agreement (TCA), on the Irish Fishing industry and on the coastal communities that depend on fisheries.

At the time of the Seafood Task Force, the level of off-register capacity was estimated at 15,500 GT, 15,800 kW.  The scheme is targeted at polyvalent tonnage and aims to remove 10% of over 18m polyvalent capacity and half of the under 18m polyvalent capacity at market value, up to a maximum payment of €250,000.

Details about the scheme, including eligibility criteria and how to apply, can be found by visiting BIM.ie