China's Pingtan Receive 20 New Fishing Vessels
Pingtan Marine Enterprise Ltd. says that with the addition of these vessels and the recent acquisition of 46 vessels in June 2013, the Company's total current fleet has increased to 106. The vessels delivered were built in , and have an expected run-in period of 3 - 6 months, for sea trials and furthr testing. Pingtan say that each of the new vessels, built in Shandong Province is capable of harvesting 900 to 1000 tons of approximately 30 types of species of fish from the Indian Ocean. At current prices and operating at full capacity, each vessel can generate annual revenue of approximate $3 million USD with annual net income of approximate $800,000 to $1 million. Mr. Xinrong Zhou, Pingtan's Chairman and CEO, stated, "We are pleased to announce the delivery of these new vessels.
China's Pingtan in Clear with Nasdaq
Dredging and Ocean Fishing listed firm Pingtan Marine Enterprise Ltd. (Nasdaq: PME) confirms its continued listing & compliance with all quantitative listing requirements. Pingtan, a marine services company providing territorial sea fishing and dredging services in the People's Republic of China (PRC), has announced that the it has received a letter from the Nasdaq Listing Qualifications Panel (the "Panel") stating that it has concluded that the company has demonstrated compliance with all applicable listing requirements. Accordingly, the listing review has been closed. Pingtan's Chairman and CEO, Mr. Xinrong Zhou, stated, "We are very pleased with the recent ruling by Nasdaq and are focused on increasing shareholder value by continuing to grow our businessā¦
China's Pingtan to Buy 46 Fishing Vessels
Pingtan Marine Enterprise Ltd. an integrated marine services company providing territorial sea fishing and dredging services in the People's Republic of China (PRC), has expanded its fleet, signing of a 'Master Agreement' to purchase 46 fishing trawlers in a transaction totaling approximately $410.1 million. After a thorough third-party appraisal process, the Master Agreement was signed between Pingtan and Fuzhou Honglong Ocean Fishery Co., Ltd., or "Hong Long," a company owned by Pingtan's Chairman and CEO, Mr.
