China's Pingtan Receive 20 New Fishing Vessels

MarineLink.com
Sunday, September 15, 2013

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.  We believe that the expansion of our fleet will continue to create economies of scale for Pingtan.  Increasing our volume will help in our negotiations with distributors and exporters, and also create the possibility of selling downstream directly to end markets.  We expect to remain aggressive in increasing our fleet, and look forward to enhancing our leading position in China's seafood industry."

Pingtan Fishing primarily engages in ocean fishing with many of its self-owned vessels operating within the Indian Exclusive Economic Zone and the Arafura Sea of Indonesia. Pingtan Fishing is a growing fishing company and provider of high quality seafood in the PRC.
 

Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

VT Halter to Build Bouchard ATB Tugs

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), today announced new contracts to build two 130-foot Articulated Tug Barge

Del Mar Signs Agency Agreement with Ciramar

Del Mar Marine Corp. announced it has signed an agency agreement with Ciramar Shipyards allowing the company to promote Ciramar Shipyard´s docking and facilities

Great Lakes Shipyard Wins EPA Drydock Contract

Great Lakes Shipyard has been awarded a contract for the United States Environmental Protection Agency (EPA) vessel R/V Lake Explorer II. The scope of work will include drydocking,

Shipbuilding

VT Halter to Build Bouchard ATB Tugs

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), today announced new contracts to build two 130-foot Articulated Tug Barge

Del Mar Signs Agency Agreement with Ciramar

Del Mar Marine Corp. announced it has signed an agency agreement with Ciramar Shipyards allowing the company to promote Ciramar Shipyard´s docking and facilities

Bouchard Orders Two Newbuild ATB Tugs

Morton S. Bouchard III, President and CEO of Bouchard Transportation Co., Inc., today announced the next step in Bouchard Transportation Co., Inc.’s ongoing fleet

Workboats

VT Halter to Build Bouchard ATB Tugs

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), today announced new contracts to build two 130-foot Articulated Tug Barge

Bouchard Orders Two Newbuild ATB Tugs

Morton S. Bouchard III, President and CEO of Bouchard Transportation Co., Inc., today announced the next step in Bouchard Transportation Co., Inc.’s ongoing fleet

Tuco Marine Sells First ProZero Fast Workboat

Tuco Marine Group says that it has sold its first boat shortly after the launch of ProZero, the new range of boats for the professional market. The vessel was sold

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0874 sec (11 req/sec)