Empty Seas: Two
PARIS - When it comes to fish, you can't keep a good plunderer down. Take the 50,000-ton Lafayette, a floating factory four times the size of the biggest super trawler, able to process a half-million tons a year as it prowled off South America, northern Europe and Africa.
Pacific Andes, a global ocean-emptying empire based in Hong Kong, spent $100 million to refit the old oil tanker in China and launched it under a Russian flag in 2008. It was banned on southern Pacific high seas for cheating on quotas a few years later, so the company bought its way into Peru and kept it within territorial limits.
In Peru, it was renamed the Damanzaihao and reregistered in Mongolia, which is not picky about enforcing regulations. It switched to Belize, which later withdrew its flag. After legal battles in Peru, among travails elsewhere, Pacific Andes went belly up last year. Its former flagship was sold for a dime on the dollar to Russian owners seeking other waters to plunder.
The Lafayette-Damanzaihao saga reflects how the big players operate. A small-scale vignette shows the other extreme. Paris markets offer vanishing wild Atlantic salmon from the Basque country at up to $60 a pound. Fishermen net them as they swim back inland to spawn.
As fisheries collapse, industrial fleets and small-fry artisans alike work all the harder while there is something left to catch. Rather than enforce strict limits, governments help them with subsidies and legal loopholes.
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