In 2013, most quota holders made a lot of money by selling their quota on an annual basis to some vessel operators or they entered into a joint agreement. Those who buy these quotas then harvest the fish after signing a quota usage fee documented in quota usage fee agreements of catching agreements.These agreements show the metric tonnage and the usage fee per metric tonne. Stefansson says the key people he mentioned did not apply for quotas in 2010 but they realised in 2011 that there was a lot of money in selling quotas.
In 2013, he says, 10 000 metric tonnes could be sold on international and national markets to vessel operators for N$3 000 per metric tonne (US$340 at the time). This could translate into N$30 000 000 or US$3,400 000. In 2012, this could have cost N$1 700 to 2 500 (US$220 to 325) per metric tonne.
Samherji was one of the companies that bought these shares after signing agreements with Fishcor through Esja Fishing as well as Mermaria Seafood Namibia.
According to Stefansson supported and advised the key people involved to learn the business of the fishing industry. He further says they were, however, the main driving force and came up with the idea of using an agreement to allocate fishing quota to benefit themselves and Samherji.
