Economic Feasibility Assessment of Skipjack Tuna (Katsuwonus pelamis) Fishing Utilizing Handlines in Bone Bay, South Sulawesi, Indonesia

This study evaluates the economic viability of handline fishing for skipjack tuna (Katsuwonus pelamis) in Bone Bay, South Sulawesi, employing a descriptive methodology: a case study of fishermen from Lonrae (August 2025). The financial assessment encompasses profit and loss analysis, payback period (PP), net present value (NPV, discount rate of 6%), and revenue-cost ratio (R/C). The findings indicate total revenue (TR) of IDR 892.20 million per year, total costs (TC) of IDR 457.54 million annually, and net profit (π) of IDR 434.66 million annually. The owner's cash flow, under a 50:50 profit-sharing arrangement, amounts to IDR 217.33 million year (IDR 18.11 million monthly). The R/C value is 1.95 (profitable), the payback period is 1.24 years (about 1 year and 2 months; indicating a rapid return on investment), and the net present value is IDR 53,722,736 (positive), which continually affirms the financial viability of the handline unit. A basic sensitivity analysis demonstrates that viability persists despite a 10% reduction in TR or a 20% escalation in TC, but with diminished profit margins. Handline fishing is labor-intensive and contributes to the income of fishermen's households; nevertheless, the sustainability of earnings must be reconciled with data-driven management of fishing efforts. Recommendations encompass fuel efficiency (trip planning, cruising speed, CPUE-based fishing ground identification), enhancement of bio-economic documentation, and governance that sustains equilibrium among profitability, stock conservation, and fisher welfare.