Fishing businesses 'crippled' by fuel costs

Fewer fishing boats are heading out these days.

Soaring fuel costs are forcing fishermen to trawl for other work, according to an industry spokesman.

Fuel companies are expected to lift prices after oil hit an all time high of US$139 a barrel on Friday. It is currently trading at US$136 a barrel.

Peter Dawson from the Federation of Commercial Fishermen says skyrocketing fuel costs are causing a mass exodus out of the industry. He says in 1994 there were more than 3,600 registered fishing vessels operating. Now there are fewer than 1,700.

Mr Dawson says it is outrageous that while the giant oil companies are making record profits more and more fishing businesses are going under and fishermen are being forced to consider other professions.

- NEWSTALK ZB