<P> On 18 November 1929, a major earthquake (known as the 1929 Grand Banks earthquake) on the southwestern part of the Grand Banks bordering the Laurentian Channel caused an underwater landslide which resulted in extensive damage to transatlantic cables and generated a rare Atlantic tsunami that struck the south coast of Newfoundland and eastern Cape Breton Island, claiming 28 lives in the Burin Peninsula . </P> <P> Technological advances in fishing such as large factory ships and sonar, as well as geopolitical disputes over territorial sea and exclusive economic zone (EEZ) boundaries, have led to overfishing and a serious decline in the fish stocks of the Grand Banks from around 1990 . </P> <P> Canada's EEZ currently occupies the majority of the Grand Banks except for the lucrative "nose" (eastern extremity, near the Flemish Cap) and "tail" (southern extremity) of the fishing bank . The 1783 Treaty of Paris gave the United States shared rights to fish in these waters, but that section of the Treaty is no longer in force . The French territory Saint Pierre and Miquelon Exclusive Economic Zone occupies a pin - shaped section at the west edge of the Grand Banks, with the 22 km radius head of the pin surrounding the islands and the needle heading south for 348 km . </P> <P> Canada is currently performing the hydrographic and geological surveys necessary for claiming the entire continental shelf off eastern Canada, under the auspices of the latest United Nations Convention on the Law of the Sea . Once this aspect of UNCLOS is ratified, Canada will presumably control these remaining parts of Grand Banks which are outside of its EEZ jurisdiction . </P>

At which depth the best fishing grounds are located