27 of Pingtan Marine Enterprise’s fishing vessels are being modified and rebuilt by Huanghai Shipbuilding in a bid to ensure they can operate compliantly in the Indian Ocean and increase the company''s total annual harvest capacity from 80,000 to 110,000t.
Among the 27 fishing vessels which have been approved by the Ministry of Agriculture and Rural Affairs of the People's Republic of China, seven will be modified as light luring seine fishing vessels with annual harvest capacity of 6,000-8,000t per vessel, primarily focusing on harvesting tuna, sardine, blackbody trevally, anchovy and mackerel fish products. The other 20 vessels will be modified as squid jigging vessels with annual harvest capacity of 2,000-3,000t per vessel focusing on capturing squid products.
Xinrong Zhuo, chairman and CEO of the company, commented: "We look forward to significant improvement in both revenue and production capacity, as these rebuilt large-scaled squid jigging and light luring seine vessels will give full play to their advanced technical performance in the new bountiful and vast fishing territory, greatly expand our catch volume, enhance our product mix, and meet the increasing demand from our online and offline sales channels. "
For the year 2017, the company's annual sales volume was 17,986t, revenue was US$63.2m and net income was US$32.5m.
