Pingtan Marine Enterprise Ltd. (Nasdaq: PME), (Pingtan or the Company), a global fishing company based in the Peoples Republic of China (PRC), today announced that 3 of the Companys new fishing vessels have set sail to sea.
In October 2018, the Company previously announced it would soon complete the modification and rebuilding project for its 27 new fishing vessels and place them in operation in batches to designated fishing areas in the international waters of the Indian Ocean. On November 7, 2018, the first batch of 4 large scaled light luring seine fishing vessels departed the port from Fuzhou. Light luring seine is a fishing method that employs lights to lure fish into a fishing net called seine that hangs vertically in the water with its bottom edge held down by weights and its top edge buoyed by floats. This second batch of 3 large scaled light luring seine fishing vessels departed on November 16, 2018, also from the port of Fuzhou. The remaining 20 new fishing vessels will be gradually placed into the international waters of the Indian Ocean. …
[Read on via official release]
Source: US SEC
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