FUZHOU (Yosefardi) – Pingtan Marine Enterprise Ltd., a global fishing company based in the People’s Republic of China (PRC), booked net income (from the fishing business) of $85.8 million in 2014, jumped 81.9% from 2013.
Revenue from continuing operations (the fishing business) increased 90.2% to $233.4 million from $122.7 million, largely as a result of an increase in sales volume and unit selling price.
Pingtan currently owns 107 trawlers and 2 drifters and has exclusive operating license rights to 20 drifters. The Company is the second largest China based fishery company operating its vessels outside of China waters.
These vessels are fully licensed to fish in Indonesian and Indian waters with an average remaining useful life of approximately 15 years.
Among the 129 fishing vessels, 117 of these vessels are operating in the Arafura Sea in Indonesia, and the remaining 12 vessels are operating in the Bay of Bengal in India.