02/16/2012 - The Pacific island nation of Palau has fined a Taiwanese fishing boat 65,000 US dollars for illegally catching sharks in its waters, according to the environmental group Greenpeace on Thursday.
Palau designated its territorial waters a shark sanctuary in 2009 following reports that global shark populations are being decimated by high demand for shark fins, a traditional delicacy in Chinese cuisine.
The Pew Environmental Group estimates that the fishing industry kills up to 73 million sharks annually, resulting in 30 percent of shark species being threatened or near-threatened with extinction.
Taiwan catches 47,635 tons of shark per year, putting it in fourth place globally, according to Pew.
Read the full article, Taiwan Boat Fined for Shark Finning in Palau.