IN BRIEF - Pingtan Marine Enterprise Announces Preliminary 2017 Second Quarter Financial Results; EPS Expected to be between USD 0.08 and USD 0.10
Tuesday, July 18, 2017
FUZHOU - Pingtan Marine Enterprise Ltd., a global fishing company based in the People's Republic of China (PRC), announced on July the 17th of 2017 preliminary financial results for the second quarter ended June 30, 2017. The Company expects to report earnings per ordinary share between USD 0.08 and USD 0.10 during the period. Pingtan currently owns/controls 140 vessels with 36 currently operating, 12 of which are in the Bay of Bengal in India, 13 in Indo-Pacific Waters, and 11 in international waters.
Mr. Xinrong Zhuo, Chairman and CEO of the Company, commented, "We are very pleased with the increased number of operating vessels deployed during the past twelve months and the increase in the sales volume of various catch species. We benefitted from having a considerable portion of our revenue from the sales of these fish products, which not only led to a favorable bottom line, but also is a strong indicator of both continued demand in China and continuity of our deliveries. We are confident Pingtan will continue to deliver favorable financial performance and operating results."
Enzymotec Ltd., a company that specializes in lipid-based products, has launched its new, “next generation” krill oil product, K-Real Gold. The company says that its newest krill oil features greater levels of highly concentrated omega-3s and astaxanthin and extremely high purity.
K-Real Gold’s purity and quality are purportedly owed to Enzymotec’s proprietary Multi-Stage Extraction (MSO) 2.0 technology—a process first launched in 2016. As with the company’s other krill oil offerings—a product line that includes an improved version of the company’s K-Real krill announced only earlier this year—the new K-Real Gold is notable for its low levels of trimethylamine N-oxide (TMAO) and trimethylamine (TMA), says the company.
TMA is the molecule responsible for the fishy odor sometimes found in krill oil products, and TMAO is a compound found in some marine products that has been linked with an increased risk of cardiovascular disease. According to Itay Shafat, senior scientist, nutrition R&D, Enzymotec, K-Real Gold is the company’s highest-quality krill oil product to date and contains levels of TMA and TMAO so low that “they cannot be measured through the standard detection method.” He told Nutritional Outlook that K-Real Gold guarantees this in the product’s certificate of analysis, and that, while other manufacturers “may have improved the smell properties of their krill oils, none can make the same claims we can about K-Real Gold.”
BANGKOK - In Samut Sakhon, a thriving fishing port on the southern fringes of Bangkok, owners of boat repair shops and other businesses dependent on the seafood industry complain about a drop in income since mid-2015. They are not expecting a recovery soon. Similar grumblings can be heard throughout nearly 30 other major fishing ports in Thailand, where trawlers laden with catch from Thai and international waters drop anchor. All those involved in Thailand's lucrative seafood export industry are feeling the effect of a threat by the European Union in April 2015 to ban imports of Thai fish products unless the country's VND 5.5 billion sector ends environmentally damaging fishing practices and abusive labor practices.
The EU imported EUR 426 million (VND 496.5 million) of seafood products from Thailand in 2016 -- a significant drop from EUR 476 million the year before, according to European Commission figures. But it nevertheless remains Thailand's third largest market for seafood exports after the U.S. and Japan. The EU consumes 12% of the 1.8 million tons of seafood Thailand exports annually. By issuing a "yellow card," to warn of possible sanctions, the EU was hoping to press Thailand's military-backed government to end "illegal, unreported and unregulated" (IUU) fishing and improve labor standards. Brussels has maintained pressure since then, repeating its threat after periodic reviews and official missions.
With frozen shrimp helping seafood exports reach an all-time high in 2016-17, Gujarat has now toped marine fish production in the country. However, Andhra Pradesh has retained its top position for production of different varieties of fish. Gujarat exports fish to USA, Europe, UAE, Australia, Japan, China, Canada, Brazil, Thailand, Germany and a few other countries. A total growth of 9.82 per cent, was recorded as compared to previous year.
Pipavav port exported fish worth INR 525.31 million, (2 lakh ton in year 2015-16) according to data shared on The Marine Products Export Development Authority (MPEDA) website. As state government officials confirm the increasing production in the state, Deputy Director of fisheries N R Patel said, “Our annual catch is 6.98crore MT in Gujarat.” One of the most important catch in the State is Black Pomfret, Chines Pomfret, silver pomfret and Bombay duck.
The European Union (EU) Ambassador in Ghana, H.E. William Hanna, has called for stronger collaborative efforts among stakeholders in the fight against Illegal, Unreported and Unregulated (IUU) fishing.
Mr Hanna, who was speaking at the launch of an EU-funded fisheries governance project in Accra, yesterday, noted that fisheries resources in West Africa, particularly in countries in the Central West Gulf of Guinea were under increasing pressure from population density, food needs, poverty and irrational methods of exploitation, including IUU fishing.
He, therefore, urged the International Community to ratify and implement the United Nations Food and Agriculture Organization's Port State Measures Agreement which will allow coastal nations to deny port entry and services to foreign vessels suspected of illegal fishing.
Officers from Maritime Border Command (MBC), a multi-agency task force within the Australian Border Force (ABF), and the Australian Fisheries Management Authority (AFMA), have boarded six foreign fishing vessels in the Western Pacific Ocean and identified 13 potential breaches during an 11-day operation focussing on illegal fishers.
Operation NASSE, a multi-lateral regional maritime surveillance operation between Australia, United States, France and New Zealand, ran from 3-13 July and covered the waters between Exclusive Economic Zones of regional countries. Its aim was to deter illegal fishing in some of the most intensely fished sea-lanes in the region, the Western and Central Pacific Oceans.
Together, the operation resulted in the boarding of 27 foreign fishing vessels with 30 potential breaches of fisheries laws being reported.
The Pipestone Economic Development Authority (EDA) has taken a step to learn what it takes to bring the the aquaculture industry to town.
Balaton-based tru Shrimp announced last month that it’s planning to build a 9-acre shrimp harbor on a 30-acre parcel in Luverne that’s west of U.S. 75 and visible from Interstate 90. The company is also planning a hatchery and the renovation of a vacant processing facility in Marshall to handle more than 8 million pounds of shrimp annually.
An affiliate of Ralco, tru Shrimp also plans a training facility in Balaton for workers.
Pipestone Mayor Myron Koets, who also sits on the EDA, asked the EDA during its July 10 2017 meeting if it were willing to spend some money to learn if Pipestone had what it took to be one of two additional shrimp harbors that truShrimp has indicated it wants to construct in addition to the Luverne facility.
The new owner of an eastern Indiana fish farm says it plans to restart production there in 2018.
Maynard, Massachusetts-based AquaBounty Technologies has acquired the facilities formerly used by Bell Aquaculture near the Delaware County town of Albany for USD 14 million.
AquaBounty spokesman Dave Conley said the last Bell-raised fish, rainbow trout, were harvested before the sale closed. He said AquaBounty plans to use the facility about 75 miles northeast of Indianapolis to produce its genetically engineered salmon, for which it received federal approval in 2015.