Despite long delays and negotiations amid an epidemic, the Falkland Islands party has some steady news for its fishing fleet. The island government publicly announced that new fishing licenses have been issued for the Malvinas waters, marking a pivotal moment for the archipelago’s fishermen. The local Falkland Islands Newspaper lists the companies that compose the broader fleet. Galician firms have joined forces with local partners to form seven joint ventures, operating a total of 16 large Vigo trawlers focused on the lucrative lolligo squid fisheries. This arrangement secures the fleet’s future in this critical southwestern Atlantic fishing ground for a span of 25 years. The licensing framework requires partner companies to remain under Malvinas shareholder control, holding at least 51 percent ownership.
The path to licensure began in 2017, reflecting the local government’s goal of ensuring stronger, more stable access to the resource as the squid fisheries faced pressure. The fleet sought greater stability to support substantial investments and vessel refurbishments, laying the groundwork for a durable future in the region.
Since the arrangement took effect in 2019 and became official in 2021, Galician shipowners have been negotiating deals with Falkland entities. Some agreements went public, such as Copemar and its partner Beauchene Fishing in a joint venture known as South Atlantic Squid, while others saw collaborations like Seafish and Seaview joining forces with Lafonia to form Polar Seafish and operate Vigo-based vessels. Reports from insiders describe a readiness to proceed with all parties once the Malvinas authorities gave their nod. The consensus among familiar sources is that the process has reached its official status.
The Falkland Islands Gazette records the court’s decision on the ITQB process, the English acronym for Individual Transferable Quota. Local companies granted access to the new licenses for lolligo include the Argos Group (partner of Pereira), Beauchene Fishing (with Marfrío and Copemar), Fortuna (Pescapuerta), RBC (Rampesca), Southern Cross (Chymar), and Seafish and Seaview (Lafonia). The joint ventures are set to release the licenses on January 1, marking a new era for the industry.
This development also kicks off plans for building new ships to replace aging units. In recent weeks, Petrel Fishing Company Ltd, a Pescapuerta Group affiliate, has initiated construction to replace the damaged Baffin Bay trawler, which sank after a fire at Olívico port. Armón Vigo is slated to complete the new vessel within the year. An additional unit was promised for the same year, though Marfrío signaled uncertainty about renewal. The group has reportedly invested about nine million euros in updates to modernize its fleet.
Meanwhile, four of the sixteen vessels that participated in the lolligo fishery prior to the pandemic have undergone renovations at Nodosa Shipyard in Marin. The ships—Falcon, Argos Cies, Monteferro, and Montelorido—received upgrades that extend their operational lives. Some of the remaining vessels in service are older, with several units approaching four and a half decades of operation.
Second-best historic catch: 101,000 tons
Sixteen Vigo-based trawlers returned from Malvinas waters after completing their second campaign of the year, delivering a remarkable performance. The fleet’s careful management of the fishing grounds and competent crews produced the second-best historical harvest since records began, totaling 101,000 tons. The first campaign of the year delivered more than 55,000 tons, while the second reached just under 50,000.
Archipelago authorities reported that the 101,000 tons of squid stands as one of the highest yearly tallies, surpassed only in 1989 when the fleet reached 118,000 tons. Since then, annual catches have generally remained below the 100,000-ton mark, with 95,626 tons recorded the previous year. The current year shows roughly a 6 percent increase in yields. The fleet now travels the roughly 10,700 kilometers separating Stanley from Vigo to enjoy a well-deserved Christmas break. When January arrives, they will begin the return voyage. Until then, the new licenses, known as ITQB, will remain valid for the next 25 years. n