KOROR, Palau -- Sending a billowing message to foreign fishermen who illegally target sharks here, authorities last week set fire to a gasoline-doused pile of shark fins seized from a wayward Taiwanese vessel.

Palau President Tommy Remengesau, a leader often noted for his staunch environmental stance, told those gathered for a short bonfire ceremony: "Our message is very clear today: We will not tolerate shark fishing in the waters of Palau."

Palau, like many nations across the Pacific and the world, has seen an increase in shark fishing over the last 15 years as demand increased in Southeast Asia for a high-priced serving of shark's fin soup. The soup has gone from a rarely served meal at special events to one commonly served at restaurants and in homes.

Fishermen today commonly cut fins off and throw the less-valuable shark body back in the water. Nicolas Pilcher, a project manager with Community Conservation Network in Palau, said foreign vessels sell shark fins for $180 per pound in Hong Kong, sometimes even more. But for small island countries such as Palau, the economic benefit is negligible -- a few dollars per pound -- while their shark populations are decimated, he said.

The practice known as shark finning has been banned in countries including the United States and Australia. Environmentalists denounce the practice because it wastes nearly the entire catch.

They also oppose fishing heavily for sharks because sharks are top predators with slow reproductive cycles. If sharks are targeted, they can easily be killed off in large numbers, throwing the ecosystem off-balance.

Targeting sharks also can hurt tourism in places such as Palau, where people from around the globe brave extremely long flights to dive in a place with an abundance of reef sharks. Without the sharks, the divers might not come.

In Palau, foreign fishing vessels are licensed to fish for specific species such as tuna, and are permitted to take sharks only if they are unintentionally caught as vessels fish for permitted catches, what the industry calls "bycatch."

While targeting sharks is illegal, vessels often take the risk because of the sizable profit.

The licensed Taiwanese vessel called the Sheng Chi Hui #7 was found guilty last month of several charges including targeting sharks with steel leaders, and fined just under $13,000.

Spotted fishing too close to shore off Angaur State, authorities found more than 1,764 pounds of shark fins in the hold and about 410 shark bodies weighing 10 tons, authorities said.

Remengesau said the shark fin bonfire was also aimed at notifying the Palau Congress of the need to improve laws protecting sharks.

His administration has a bill -- among others -- to ban shark finning in Palau and to raise the fines for both targeting sharks and finning to a level that will deter foreign fishermen from going after sharks.

"We put a lot of manpower in our enforcement efforts only to find out in court that the fines are nothing that companies would consider a risk," Remengesau said.

Normally, the republic sells the catch it seizes from vessels caught fishing illegally. Remengesau said some had urged him to sell the shark fins and use some of the profit for the law enforcement effort.

But he refused on principle.

"Palau is not in the business of selling shark fins, nor do we want to be," Remengesau said.