Financial Analysis of The Purse Seine Fisheries Business in Panimbang Fishing Port

A purse seine is one of the productive fishing gear catching pelagic fish. The feasibility of the purse seine business in Panimbang was needed to analyze after the tsunami disaster in late 2018. The research aims to analyze the financial aspect of purse seine fisheries business in Panimbang fishing...

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Bibliographic Details
Published in:IOP conference series. Earth and environmental science 2021-03, Vol.695 (1), p.12032
Main Authors: Irnawati, R, Supadminingsih, F N, Surilayani, D, Nurdin, H S, Susanto, A, Hamzah, A
Format: Article
Language:English
Subjects:
Data analysis
Disasters
Dolphins & porpoises
Feasibility
Financial analysis
Fisheries
Fishing
Fishing gear
Net present value
Operating costs
Payback periods
Purse seining
Revenue
Sharks
Tsunamis
Vessels
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Summary:A purse seine is one of the productive fishing gear catching pelagic fish. The feasibility of the purse seine business in Panimbang was needed to analyze after the tsunami disaster in late 2018. The research aims to analyze the financial aspect of purse seine fisheries business in Panimbang fishing port. The study was conducted from May to October 2019 using survey methods. The data were collected, including investment and operational cost, amount of catches and price, and fishing unit specification. Data analysis includes calculation of benefit, Revenue Cost Ratio (R/C), Net Present Value (NPV), Net Benefit-Cost Ratio (Net B/C), Internal Rate of Return (IRR), and Payback Period (PP). The result showed the vessel of purse seine based on Panimbang used 30 GT with the vessel’s engine 120 HP. The net of purse seine was 1,000 m in length and 50 m in depth. The benefit of purse seine business was IDR 1.2 billion; revenue was IDR 3.4 billion, R/C was 1.54, NPV IDR 3 billion, Net B/C 2.58, IRR 56.57, and PP when the business reaches in 1 year seven months three days. The entire financial of purse seine after the tsunami disaster in Panimbang is still profitable and feasible.
ISSN:1755-1307
1755-1315
DOI:10.1088/1755-1315/695/1/012032