Japanese fishers hit hard by high crude oil prices

Soaring fuel prices are erasing profits for Japan's coastal fishing fleets, pushing a traditional industry to the brink.

Soaring fuel prices are erasing profits for Japan's coastal fishing fleets, pushing a traditional industry to the brink. | Contesto: cronaca

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  • Japanese fishers hit hard by high crude oil prices

Contesto

In the port towns of Miyagi Prefecture, the roar of diesel engines is now a sound of deepening anxiety. For the owner of one local fishing company, the brutal arithmetic of modern seafaring has become inescapable: the revenue from a haul of prized tuna is now almost entirely consumed by the staggering cost of the fuel needed to catch it. This stark reality, reported this week, encapsulates a crisis gripping Japan's coastal fisheries, where skyrocketing global crude oil prices are not merely squeezing margins but threatening to sink a centuries-old way of life. The immediate cause is a volatile global energy market, where crude oil prices have remained persistently high. For fishing vessels, particularly the smaller coastal boats that form the backbone of Japan's industry, fuel represents one of their single largest operational expenses. Every voyage into the Pacific or the Sea of Japan has become a high-stakes gamble, with captains calculating whether the catch will even cover the bill for the diesel that powered the trip. The margin between a modest profit and a crippling loss has grown perilously thin, leaving little room for error or for the inherent unpredictability of the sea. This financial pressure strikes at the heart of communities already bearing deep scars. Many of the hardest-hit ports, including those in Miyagi, are in regions devastated by the 2011 Great East Japan Earthquake and tsunami, which obliterated fleets and infrastructure. The industry had been engaged in a fragile, decades-long recovery, rebuilding boats and piers while contending with long-term challenges like declining fish stocks and an aging workforce. The current fuel crisis acts as a devastating multiplier on these existing strains, pushing businesses that survived natural disaster to the edge of economic collapse. The implications extend far beyond the balance sheets of individual fishing companies. Japan's intricate seafood supply chain, from auction houses and processors to distributors and the nation's countless sushi counters, is built on the daily labor of these coastal fleets. A contraction in domestic catch volume would increase reliance on imports, potentially raising...

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Categoria: cronaca