The Ministry of Fisheries and Ocean Resources has officially reopened gulper shark fishing in the Maldives, marking the end of a years-long moratorium that had been imposed over conservation concerns.

The ministry confirmed the decision on Saturday, alongside the introduction of new Gulper Shark Fisheries Planning and Distribution Regulations designed to ensure strict sustainability and oversight.

According to the ministry, the move aims to strike a balance between economic opportunity and environmental responsibility, tapping into the high-value global market for shark oil while preserving marine biodiversity.

The gulper shark fishery once a traditional practice in the Maldives was suspended following concerns of declining deep-sea shark populations.

However, recent assessments and reports from fishing communities indicate a recovery in shark numbers, prompting the government to permit controlled commercial fishing under stringent regulatory mechanisms.

Under the new framework, a maximum of 40 vessels nationwide will be licensed to fish for gulper sharks annually, with licenses valid from 1 November to 31 October.

Licensing applies to every stage of the supply chain: vessels (USD 129.70 annual fee), processors (USD 324.25), and suppliers (USD 194.55).

To enhance monitoring and enforcement, operations are limited to four authorised ports: Kulhudhuffushi City Port (Haa Dhaalu Atoll), Funadhoo (Shaviyani Atoll), Maduvvari (Raa Atoll), and Himandhoo (Alifu Alifu Atoll).

The regulations impose strict species selectivity and catch-handling protocols.

Fishermen are barred from targeting any species other than gulper sharks and must deliver the entire catch intact to designated ports before processing.

Violations carry heavy penalties fishing outside authorised areas or catching non-gulper species may result in fines up to USD 6,485.08.

Repeat or severe offenses, including unlicensed operations, could incur penalties of up to USD 25,940.34.

The Fisheries Ministry stated that the reintroduction of gulper shark fishing reflects a data-driven approach to sustainable marine resource management, ensuring that economic gains do not come at the expense of ecological stability.