The fisheries and management measures: In 1977 an EEZ was introduced in the Faroe area. The demersal fishery by foreign nations has since decreased and now Faroese vessels take most of the catches. The fishery may be considered a multi-fleet and multi-species fishery. The longliners fish mainly cod and haddock; in addition, some longliners fish in deep water for ling, tusk and Greenland halibut. Most of the trawlers fish cod, haddock and saithe, while some large trawlers fish in deeper waters for redfish, blue ling, Greenland halibut and occasionally grenadier and black scabbardfish. The jiggers fish mainly saithe and cod. Recently, gill net fisheries for Greenland halibut and anglerfish have been introduced. The total demersal catches have decreased from 120,000 t in 1985 to 65,000 t in 1994. The decrease is mainly due to lower catches of cod, haddock and saithe. In 1995 and in the first 3 months of 1996 the cod catches have increased considerably compared to 1994; catch rates have also increased. Catches of saithe have, however, decreased in the same period. During the 1980s and 1990s Faroese authorities have attempted to regulate the fishery and the investment in fishing vessels. In 1987 a system of fishing licences was introduced. The demersal fishery at the Faroe Islands has been regulated by technical measures (minimum mesh sizes and closed areas). In order to protect juveniles and young fish, fishing is temporarily prohibited in areas where the number of small cod, haddock and saithe exceeds 30% in the catches; after 1-2 weeks the areas are opened again for fishing. A reduction of effort has been attempted through banning of new licences and a buy back of licences. A new quota system, based on individual quotas, was introduced in 1994. The quota year starts on 1 September and ends on 31 August the following year. The aim of the quota system is, through restrictive TAC's for the period 1994-1998, to increase the SSB's of Faroe Plateau cod and haddock to 52,000 t and 40,000 t, respectively. As a kind of compensation, the TAC for saithe was set higher than recommended. It should be noted that cod, haddock and saithe are caught in a mixed fishery and any management measure should account for this. Species under the quota system are Faroe Plateau cod, haddock, saithe, redfish and Faroe Bank cod.
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