FUZHOU (Yosefardi) – Pingtan Marine Enterprise Ltd, a Chinese sea fishing and dredging services company, has purchased 46 fishing trawlers for $410.1 million which currently operating in Arafura Sea, Eastern Indonesia.
The agreement was signed between Pingtan and Fuzhou Honglong Ocean Fishery Co Ltd, a company owned by Pingtan’s Chairman Xinrong Zhou.
The new trawlers will increase Pingtan’s fleet from 40 to 86 and its fish carrying capacity increases by 45,000 to 50,000 tons. The company expects each vessel to contribute revenues of approximately $3-$3.5 million annually, and net income of $1 million.
The trawlers have an average age of approximately 10.3 years, including 20 newly built and pre-owned fishing trawlers. The vessels are fully licensed to fish in Indonesian waters and are currently operating in the Arafura Sea.
Pingtan sells approximately 30 different species of fish, primarily from Indonesia and India, to over 300 distributors and retailers in China. (bintang@yosefardi.com)