New Pingtan jiggers to head south

Chinese operator Pingtan Marine Enterprise has two brand new squid jigging vessels and these are set to start fishing in the S-W Atlantic and S-E Pacific.

Pingtan Marine Enterprise is based in the People's Republic of China and operates a fleet of 135 fishing vessels, of which 12 operate in the Bay of Bengal and 13 in Indo-Pacific waters, and the addition of these two new vessels is expected to significantly increase production capacity of this fleet segment.

The venture to the south-west Atlantic and south-eastern Pacific is new for the Pingtan fleet, which has not operated in these waters in the past.

‘The two large-scale squid jigging vessels are twice the average gross tonnage of our other fishing vessels, and we are excited to launch them into a new fishing territory,’ commented Pingtan chairman and CEO Xinrong Zhuo.

‘Since mid-2015, market squid prices started to climb and, in 2016, China's bulk purchase prices have more than doubled. We expect that the two squid jigging vessels will diversify our product mix by providing different type of squid products from the regions and accelerate the expansion of our fishing territories worldwide, as well as allowing us to remain competitive as we may rapidly adjust our strategy in light of market changes.’

WorldFishingToday - 02-12-2016

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