Institutional nuts and bolts for a mesopelagic fishery in Norway

While most commercial fish stocks in the north Atlantic are regulated with TAC's (total allowable catch), access regulations and IVQ's (individual vessel quotas), harvesting mesopelagic fish resources, such as pearlsides (Maurolicus muelleri) and glacier lanthern fish (Benthosema glaciale), represents a clear exception. Neither TAC's nor rules for bycatch are implemented. As mesopelagic fish resources are classified as one of the largest fish resources globally and abundant in the north-Atlantic, the species represent a significant potential for the development a new fishery and source for the biomarine industry. However, with reference to the historical development of other fisheries, lack of TAC-regimes represents a major driver for capacity expansion. As a new mesopelagic fishery may be conducted either as a new- and additional season for today's deep-sea pelagic fleet or by specialized vessels for a year-round mesopelagic fishery, the alternatives represents different capacity adaptations and institutional implications for the management regime. This article outlines the mesopelagic potential, which management principles may be implemented to a mesopelagic fishery and the interplay to other TAC-regulated pelagic fisheries