The coastal fishery is faced with the crisis of collapse due to the rapidly decreasing and aging population in fishing villages. Moreover, those wishing to migrate to fishing are prevented from entering the fishery by high costs of purchasing fishing boat. To solve this problem, a fishing boat leasing program for youth has been implemented.
This study analyzed determinants of fishing boat value with the aim of suggesting guidelines of price setting for the fishing boat leasing program for youth.
The analysis was based on data collected from 70 out of 82 fishing boats that applied for the lease program in 2022 with data from 12 unqualified boats being excluded. Field survey results of these boats were also combined to the analysis, classifying the boats into 5 grades based on the multiple regression analysis using 6 independent variables (boat age, tonnage, navigation equipment, fishing equipment, safety equipment, construction cost per boat) and 1 dependent variable (lease fee desired by boat owner).
It was found that the independent variables had 32.9% coefficient of determination with all the independent variables having multicollinearity. Among the variables, the boat age was found to have the highest coefficient of determination, which was followed by the tonnage excluding navigational equipment, fishing equipment, safety equipment, and construction cost per boat.
The study is expected to be utilized as primary data to provide fishers, or boat owners, with criteria on determinants of leasing fishing boats.