The 20 per cent reduction takes effect July 1, 2013.

With the sale of Viking, a 40-foot fishing boat that has plied the waters off the Vineyard for three generations, the Island’s once-vibrant fleet of small wooden draggers is now at the brink of extinction.

Craig Coutinho of Vineyard Haven confirmed this week that he will sell Viking along with his fishing permits.

Juvenile striped bass spawned in the Chesapeake Bay were at a record low at the end of the summer. The Maryland Department of Natural Resources recently completed its annual young of the year survey and found far fewer juvenile fish than a year ago.

Down at the Menemsha docks on an early October evening, a regular is out casting into the harbor. He’s dressed for the occasion in red rubber boots and rain pants and a bright yellow rain jacket. His blue derby hat is decked with four pins — one with his derby number, two daily bluefish award pins, and one junior angler pin.

And of course five-year-old Grady Keefe of Menemsha is wearing his faded yellow life jacket.

There is endless fascination about sharks, and the Monster Shark Tournament staged annually every July by the Boston Big Game Fishing Club has long been an attraction for people of all stripes — shark lovers, scientists, protesters and the just plain curious. For two days at the height of summer, Oak Bluffs is transformed as huge crowds pour in to witness the spectacle.

Although recreational fishing dominates Island chatter with the derby on this month, talk up and down Squid Row in Menemsha on Tuesday afternoon was of a decidedly commercial catch.

David Nash of Edgartown was in the process of explaining how artificial fly lures are made when a neighboring fisherman’s rod bowed toward the water. A distinct whirring sound zipped through the air and the angler’s line raced out into Edgartown Harbor.

“That’s the sound of an albie.”

Responding to Gov. Deval Patrick’s plea this week for federal disaster relief for Massachusetts commercial fishermen, a spokesman for the U.S. Department of Commerce said that it remains committed to the fishery and is reviewing the governor’s request.