Fleetwood and as transport became more efficient, more overnight visitors became day visitors. The Hillhouse plant was heavily cut back, and was finally closed in 1999. Most serious, however, was the collapse of the fishing industry, which was largely destroyed in the late 1960s and early 1970s by the Cod Wars, a dispute over fishing rights between Iceland and the UK. As Fleetwood's trawlers mainly fished the North Atlantic in search of cod, the loss of the fishing grounds hit the town hard. The last deep sea trawler left the town in 1982 and now only inshore fishing boats fish out
Murray cod A tightening of fishing regulations for wild Murray cod, as referred to above, and a switch by fishermen to a largely catch and release approach for wild Murray cod would alleviate this problem. Recognising these issues, in late 2014 the New South Wales and Victorian fishery departments amended their regulations so that a slot limit of 55 to 75 cm now applies in these states. (I.e. Only Murray cod between 55 and 75 cm may be taken; those above and below this size range or "slot" must be released.) This measure should have positive effects for the Murray cod population