July 3, 2006

Australian aquaculture leases snapped up in online auction

Aquaculture investors have bought up almost 200 hectares around Australia's Port Phillip Bay and Western Port in an online auction, the Minister of Fisheries, Bob Cameron announced last week.

The success of the auction would mean a nearly 60 percent increase in the area of Crown land aquaculture sites in Victoria.

Port Phillip Bay is an area in the southern part of Victoria, one of Australia's state. The state's capital Melbourne is at the northern end. 

Seven investors committed bids worth AUS$575,000 (US$428, 100) for 18 Crown leases.

The leases, effective for 21 years with an option to extend for a further 10 years, would provide security to aquaculture farmers, Bellarine MP Lisa Neville noted.

The auction would expand the aquaculture industry's ability to supply premium shellfish, including mussels and scallops, she added.

The state allotted AUS$5.8 million (US$4.3 million) for a new information system to ensure the sustainability of Victoria's commercial fisheries this year.   The data from the new information system would enable the Government and the commercial fishing industry to manage its resources and fish stocks to ensure the future of the aquaculture industry, Cameron said.   Victoria's commercial fishing industry has an annual turnover of more than AUS$100 million.   Port Phillio Bay spans about 1930 square kilometers and has a coastline length of 264 km. The Bay is extremely shallow; more than half the area is less than 8 metres in depth, with the deepest point at 24 metres.