1990 - Move to Individual Vessel Quota (IVQ) System
In 1990 the Sablefish fishery switched from a fleet-wide quota system to an Individual Vessel Quota (IVQ) system where each fisherman was allocated a share of the annual TAC to catch any time throughout the fishing year.
Under the IVQ system, long-term sustainability became a tangible concern to each fisherman because the value of their investment was measured in the long-term health of the resource, not in their immediate catch. Furthermore, if harvesters exceeded their vessel’s annual allocation, they would receive less in the following year.
The incentive, under IVQ management, turned from each vessel catching as much fish as possible to maximizing net income from the annual share allocated to each vessel. With the “race for fish” eliminated, fishermen gained more control over factors that affect the value of the fish, such as seasonal supply and product quality.
