1793 with 15 tuns of sperm whale oil, 6 tuns of right whale oil and 7,000 seal skins. A limitation on the industry in the early years were the Navigation Acts and Crown monopolies granting exclusive rights to all commercial maritime activity in the region by British vessels to the South Sea Company and the East India Company, or to vessels that had been licensed by these companies. Those restrictions were gradually eliminated in stages and allowed British vessels to whale, seal, go fur trading or engage in other forms of trading in the Pacific without a licence. Taking general cargo on the outward bound voyage allowed whalers to supplement their income. The leading London whale ship owner Samuel Enderby confirmed in a letter to Sir Joseph Banks in 1801 that it was a great advantage to the owners of whalers to take freight or passengers to New South Wales. His vessel Speedy returned to London from New South Wales in 1801 with oil worth £13,600 which Enderby said was the most valuable such cargo brought back till then. Bay whaling Bay whaling involved the capture of right whales in sheltered bays on the coast of Australia and New Zealand where they came to breed in the winter months. The industry was well suited to the limited financial resources of the early colonists. A shore-based bay whaling station could be established with little more than a few boats, try-pots and wooden casks to store the oil. The men did not usually receive a set wages but, like pelagic whalers, were paid a share of the value of the catch, known as a "lay." Soon after the first colonists arrived in Tasmania in 1803, and established Hobart at the head of the Derwent Estuary, they discovered the estuary was a breeding ground for the Southern Right whale. Bay whaling activities by the colonists began in the Derwent in 1805. At least 45 whaling stations operated in Tasmania over the next four decades. The first whaling station on the Australian mainland was established by Captain Thomas Raine (1793-1860) at Twofold Bay, in southern New South Wales, in 1828. Bay whaling was underway at Portland Bay, Victoria, by 1833, at Encounter Bay, South Australia in 1834 and at Doubtful Island Bay in Western Australia by 1836 as well as at many other locations. Australian bay whalers also went to New Zealand and were