AW,Fishing industry in Thriving in Mogadishu

[Strategic]

My adeer is telling me that he bought a trawler for just under 90,000$ and that its first three day mission collected 15,000$ his money investment should be back in just 2 months .no wonder the iranians,yemenis,spanish,and other foreign vessels are always on the somali coast.
somalis oceans is an upwelling one meaning that cold water rich nuetrient is found in the somali territorial water an abundance of fish and other marine life which can be exported commercially,alas,apart from the small boats which are scattered on the somali coasts,no real tangible investment in trawlers,fishing vessels and commercial boats have been put to use.it is the time that the diaspora people invest in their rich waters?



What to do you guys think?
I am completing buying a midsized trawler for 30,000$ and creating jobs and collecting my share of money every other week.

[AbdiWahab252]

Adeer


Fishing is a business fraught with risk. The biggest challenge you will face are:

1. Cold storage - Electricity is very expensive and so any fish you catch has to be sold very quickly
2. Maintenance and upkeep - Once a motor goes, you will need a sturdy mechanic to keep the trawler a float. You also have to put vast sums into a 90K trawler - The salt destroys a vessel. You will need a great crew and skilled one. You can convince a lot of unemployed fishermen with expertise to fish in SOmalia but you can't rely on local fishermen to operate a trawler efficiently.
3. Lack of weather data - If a cyclone is brewing or there is bad weather, you won't get alerts alone.
4. Lack of data on fishing areas - You are taking a crap shoot when you trawl - You don't know what you may be catching unless you have sophisticated underwater radar. Once you catch Tuna for example, you need to chill it and then offload it quickly. Where can you do this efficiently in Somalia - back to point 1. The closest clearing station for Tuna is Victoria, Seychelles which is 20 hours away from Mogadishu but only 35 minutes by plane (Victoria being the closest airport to Mogadishu).

Fishing, mining and farming are three sectors that are not for the faint of heart and for those with deep pockets. I know people who are mining rubies and emeralds. It is a crap shoot but once in a while they hit pay dirt. The trick is to finance your operations between the lean times and those of bounty.

[AbdiWahab252]

P.S. The foreign trawlers fish for months and store their catch in cold freezers in their hulls. After periods lasting up to 6 months, they offload either at Victoria for EU vessels or motherships in Salalah. Victoria is the preferred laundering point for Somali marine resources where it is mixed with those from Seychellois waters and Malagasy/Mozambican/Tanzanian and Kenyan waters. Victoria has a massive tuna canning industry which makes the process much easier.

What will revolutionize fishing in SOmali waters is the development of massive cold storage facilities onshore, marketing campaigns to draw foreign buyers like BumbleBee, Starkist and other large conglomerates and data on Somali fishing stock to better regulate the waters plus a strong marine force.

In the 1970s, 80s, the vast amount of fishing was done by foreign trawlers from countries that had licenses to fish in SOmali waters: Romania, China, Bulgaria, etc. The deals were either for cash, credit to finance purchases from those countries. We did not have the infrastructure to do massive processing.

[LiquidHYDROGEN]

Yeah, it's thriving...for illegal foreign fishers.

http://www.theguardian.com/world/2015/o ... s-comeback