FUZHOU, China, Dec. 29, 2020 /PRNewswire/ -- Pingtan Marine
Enterprise Ltd. (NASDAQ: PME) ("Pingtan" or the "Company"),
today announced that 20 fishing vessels operated by the Company
received approval from the Ministry of Agriculture and Rural
Affairs of the People's Republic of
China ("MARA") for modification and rebuilding.
The Company acquired the exclusive operating rights to the 20
vessels on December 4, 2013 and the
vessels were placed in the Indonesian waters for operations. Due to
the impact of the moratorium implemented by the Indonesian
government in December 2014, these
vessels ceased operations in 2015. For the purpose of recovering
fishing operations as early as possible and expanding the fishing
capacity of its fleet, the Company decided to initiate modification
and rebuilding projects for these vessels.
The 20 fishing vessels will be modified into seine fishing
vessels with vessel length of 57 meters and gross tonnage of 1,110.
Among the 20 fishing vessels, 8 were approved by the MARA to
operate in the international waters of the Indian Ocean, and 12
were approved to operate in the international waters of North
Pacific Ocean after the completion of the modification and
rebuilding.
About Pingtan
Pingtan is a fishing company engaging in ocean fishing through
its subsidiary, Fujian Provincial Pingtan County Ocean Fishing
Group Co., Ltd., or Pingtan Fishing.
CONTACT:
LiMing Yung (Michael)
Chief Financial Officer
Pingtan Marine Enterprise Ltd.
Tel: +86 591 87271753
michaelyung@ptmarine.net
Maggie Li
Investor Relations Manager
Pingtan Marine Enterprise Ltd.
Tel: +86 591 8727 1753
mli@ptmarine.net
INVESTOR RELATIONS
PureRock Communications Limited
PTmarine@pure-rock.com
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content:http://www.prnewswire.com/news-releases/pingtan-marine-enterprises-20-fishing-vessels-to-resume-operations-in-different-fishing-grounds-after-modification-and-rebuilding-301198970.html
SOURCE Pingtan Marine Enterprise Ltd.