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Pingtan Marine fishing vessel. (Photo: Pingtan)

Pingtan obtains fishing permits from Timor-Leste

  (CHINA, 8/5/2016)

Pingtan Marine Enterprise Ltd. (PME) has announced that thirteen of its fishing vessels obtained fishing licenses from the Ministry of Agriculture and Fisheries of the Democratic Republic of Timor-Leste to operate in waters of the Republic.

The firm’s executives informed that these vessels are currently under a modification process to change their fishing method in order to meet the fishing requirements of the nation granting the permits.

The Company expects to complete the modification of these fishing vessels by the third quarter of 2016 and place them into operation after completion of all related procedures.

"This cooperation with Democratic Republic of Timor-Leste is an important step towards our development direction,” pointed out Xinrong Zhuo, Chairman and CEO of the Company.

And he added: “Our management will dedicate ourselves to further expanding our company's harvesting regions as a measure to reduce our dependency on a single territory and improve revenue as well as promote the economic development of Timor-Leste."

According to FAO, marine fisheries in Timor-Leste are characterized by artisanal, small-scale fishing operations. The number of fishers is steadily increasing but most of their boats allow for fishing only within inshore areas close to the beach.

Industrial fishing occurs mainly along the South coast and that it has in the past issued fishing licences to foreign fishing vessels within the framework of bilateral fishing agreements, which have not been renewed.

Pingtan is a global fishing firm that performs oceanic fishing operations through its totally owned subsidiary Pingtan Fishing.
 
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Information of the company:
Address: CN11 Legend Town No 1 Balizhuandongli, Chaoyang District
City: Beijing
State/ZIP: 10-65503186 (BEJ 100025)
Country: China
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