A fisherman hands half of a shark to a customer at the Ras Al Khaimah Fish Market in Ras Al Khaimah on Thursday, April 15, 2010. The rising cost of petrol has affected their profit.
A fisherman hands half of a shark to a customer at the Ras Al Khaimah Fish Market in Ras Al Khaimah on Thursday, April 15, 2010. The rising cost of petrol has affected their profit.
A fisherman hands half of a shark to a customer at the Ras Al Khaimah Fish Market in Ras Al Khaimah on Thursday, April 15, 2010. The rising cost of petrol has affected their profit.
A fisherman hands half of a shark to a customer at the Ras Al Khaimah Fish Market in Ras Al Khaimah on Thursday, April 15, 2010. The rising cost of petrol has affected their profit.

Asian demand drives shark trade


  • English
  • Arabic

DUBAI // As the sun set behind Port Rashid, a dusty lorry with Omani numberplates pulled in to the bustling Deira fish market.

Inside, beneath a pile of ice and several boxes of sardines, lay six 2.5-metre-long bull sharks.

As the lorry was unloaded, the big fish were placed on a concrete slab that runs across the rear of the market.

Next to the adult bulls, juveniles of the same breed were arranged along with black tips, silky and Java sharks, white spotted guitar fish, one snaggletooth, a sickle fin lemon shark and a rare leopard shark.

By the time it was dark, the sharks' fins had been carved off and were being sold to the highest bidders.

Salem, the Omani fish merchant who drove his lorry for six hours from Muscat to the market, said pickings were slim these days.

"It's not like it used to be," he said. "I've been doing this for 20 years and until three years ago there were too many sharks.

"Truck after truck used to arrive every day, and all along here would be full of sharks. Now not so many, I don't know why."

Much like the shark found in a shop by the team in Khasab, these animals are caught for their commercial value. The meat is sold locally and the liver oil is used to treat wooden dhows. But the real prize for the fishermen is the fins.

One kilo of shark fins sells for upwards of Dh300 in Deira, and goes on to fetch almost six times that amount in Hong Kong seafood-trading centres, where the dried fins are used in soup.

The bland concoction is a delicacy in the Far East, and one bowl can sell for as much as US$150 (Dh550). The demand drives a worldwide trade in sharks, with up to 100 million killed each year.

Jonathan Ali Khan, a local conservationist who is making a documentary about sharks off the coast of Musandam in the Strait of Hormuz, said the UAE had always been pivotal in the shark fin market.

"Dubai is a hub for the redistribution of fins from different sources in the region. At least eight to 12 per cent of the fins that end up in Hong Kong come from Dubai," he said.

That proportion, he said, "has decreased slightly in recent years, but the demand is only increasing".

Twelve months ago, Dr Ralf Sonntag, the director of the International Fund for Animal Welfare in Germany, was in Doha for the 15th Convention on International Trade in Endangered Species (Cites). At that meeting it was proposed to add four species of shark to the list, due to their rapid decline.

Protection for these animals was critical, he said. "It would affect millions, if not billions of people, if shark populations were wiped out - basically anyone who is dependent on marine protein. We don't yet know the full consequences but it would have a huge global impact."

Increased education and awareness were urgently needed to prevent further losses, Dr Sonntag said.

"The trouble is fishermen see sharks as the same as other fish, but they are not the same. Sharks are among the slowest-reproducing marine species - they live for a long time and give birth to very few young. This, added to their high value, means they are in serious trouble."

With demand from Japan and China posing the biggest threat to Arabian sharks, projects such as Mr Khan's film are necessary to bolster efforts towards conservation of the species.

"We showed the promo for the film at the Cites meeting and it seemed to have an immediate effect," he said. "Many people are relenting to economic pressure without knowing the ecological threats."

Al Reeve, a scientist at Sultan Qaboos University in Muscat, said the region was dangerously "close to the edge" in terms of shark numbers.

"The Arabian seas can only withstand fishing pressure for so long," he said. "Fishermen have the biggest voices in Oman, so before the trade stops, the demand has to.

"That will take education, awareness and time. I just hope we have enough time."

Sreesanth's India bowling career

Tests 27, Wickets 87, Average 37.59, Best 5-40

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T20Is 10, Wickets 7, Average 41.14, Best 2-12

Disability on screen

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Taken and This Is Us — cancer

Trial & Error — cognitive disorder prosopagnosia (facial blindness and dyslexia)

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Switched at Birth — deafness

One Mississippi, Wentworth and Transparent — double mastectomy

Dragons — double amputee

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How to apply for a drone permit
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'Manmarziyaan' (Colour Yellow Productions, Phantom Films)
Director: Anurag Kashyap​​​​​​​
Cast: Abhishek Bachchan, Taapsee Pannu, Vicky Kaushal​​​​​​​
Rating: 3.5/5

What is tokenisation?

Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets. 

War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

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Friday

Granada v Real Betis (9.30pm)

Valencia v Levante (midnight)

Saturday

Espanyol v Alaves (4pm)

Celta Vigo v Villarreal (7pm)

Leganes v Real Valladolid (9.30pm)

Mallorca v Barcelona (midnight)

Sunday

Atletic Bilbao v Atletico Madrid (4pm)

Real Madrid v Eibar (9.30pm)

Real Sociedad v Osasuna (midnight)

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


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Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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Company profile

Date started: January, 2014

Founders: Mike Dawson, Varuna Singh, and Benita Rowe

Based: Dubai

Sector: Education technology

Size: Five employees

Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.

Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)

Famous left-handers

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First Person
Richard Flanagan
Chatto & Windus 

UAE currency: the story behind the money in your pockets
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Courtesy: Crystal Intelligence

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