Pingtan Q1 Results Severely Hurt By Indonesian Fishing Restrictions
SEAFOODNEWS.COM [Seafood News] - May 26, 2015 -
China's Pingtan Marine Enterprises reported first quarter revenue fell to $28.7 million compared with $65.6 million year-ago.
Pingtan currently operates 129 fishing vessels and 117 of these vessels operate in the Arafura Sea of Indonesia. To cooperate and remain in compliance with the Indonesian government's fishing license check procedures, in January 2015, the Company lowered its operation to approximately half of its normal level; and from February 2015, Pingtan temporarily ceased operations in Indonesian waters.
To Read Full Story Login Below.