Pingtan Marine Enterprise Ltd. (PME) Expanding Sales Strategy

    Pingtan Marine Enterprise Ltd. (PME) recently announced that its 10 new squid vessels have started operations by sailing in the international waters. All the vessels left port of Shidao in Weihai last Tuesday heading towards their fishing areas in those waters.

    All these vessels of the China-based global shipping company are large sized squid jigging vessels. Each of it is 65.16 meters long with gross weight of 1,227 tons. The company remained modifying and rebuilding these vessels under a project that completed in June this year. The company gets the approval of China’s Ministry of Agriculture and Rural Affairs allowing all 10 vessels to explore several international waters for their fishing operations. Those waters include the Southeast Pacific Ocean, the North Pacific Ocean, Southwest Atlantic Ocean and the Indian Ocean.

    These 10 new vessels departed the port in a simple ceremony by the company, said Mr. Xinrong Zhuo, Chairman and CEO. The company is expecting expanding its catching capacity through the fishing operations by these vessels. Through this company will also be able to supply more seafood to the market.

    Company considers squid its major products. It is intending achieving the goals of increasing its catching capacity as well as selling price. And in order to achieve those goals, company came realigning its sales strategy. It is also considering these vessels to be helpful for the company in reaching those milestones. Pingtan operates globally through its subsidiary, Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd., or Pingtan Fishing.

    The company recently participated at the 15th China (Fuzhou) International Seafood and Fisheries Expo (“FIFE”) for 2020 held in Fuzhou, China. In the event, Pingtan Fishing has been awarded with “Gold Medal Enterprises”. The company also gets the award of “Gold Medal Products” for its Indian Ocean Squid and Indian Ocean Tuna at that event.