NEW YORK, December 1, 2016 /PRNewswire/ --
The marine port and service industry is going through a renewed phase of growth. The primary drivers of it are large investments in the marine transportation industry and the continuously growing demand for cargo shipping. In addition, the expansion of new regional trade deals is a major factor that brings neighboring nations together, trading efficiently with each other. According to a recent research report published by Research and Markets, marine port and service industry is forecasted to grow at a CAGR of 4.7% from 2015 to 2020. Pingtan Marine Enterprise Ltd. (NASDAQ: PME), DryShips Inc. (NASDAQ: DRYS), Globus Maritime Ltd. (NASDAQ: GLBS), Seanergy Maritime Holdings Corp. (NASDAQ: SHIP), Sino-Global Shipping America, Ltd. (NASDAQ: SINO)
Regional trade deals are contributing to various marine operations, including fishing, in the Asian Pacific, Indian Ocean and South American regions. Naturally, due to the population of the region and economic growth in China and India, the Asia Pacific is expected to remain the largest and most active region in the industry. The research also indicates that Europe and North America are expected to grow significantly due to increasing industrial production and high international trade.
Pingtan Marine Enterprise Ltd. (NASDAQ: PME) is a marine services operating company in China, which focuses on ocean fishing through its wholly-owned subsidiaries, Pingtan Fishing and Fujian Provincial Pingtan County Ocean Fishing Group Co. Pingtan Fishing primarily engages in ocean fishing with many of the company's owned vessels operating within the Arafura Sea of Indonesia and the Indian Exclusive Economic Zone.
On November 22nd Pingtan Marine Enterprise Ltd. has announced that thirteen of its fishing vessels have arrived in the harvesting areas of Indo-Pacific waters. The Company expects to begin recognizing sales from this expansion in the current fourth quarter of 2016. The company currently owns Pingtan currently owns one hundred thirty five fishing vessels, twelve of which are operating in the Bay of Bengal in India along with these thirteen vessels in Indo-Pacific Waters. As of today, the Company's twenty five fishing vessels are fully operating and have rebuilt approximately 20% of its production capacity.
Chairman and CEO of Pingtan Marine Enterprise Ltd. Mr. Xinrong Zhuo, said in a statement, "We are very pleased to begin fishing activities in the bountiful Indo-Pacific Waters, and utilizing our assets and advantages to meet the continued demand in China. We remain dedicated to actively seeking new water territories where we can expand, increasing our production and provide high quality fishing products to our customers."
International owner of drybulk carriers and offshore support vessels, DryShips Inc. (NASDAQ: DRYS), has successfully delivered the 2004 built Panamax built carrier M/V Sorrento for $6.7 million, marking the completion of all five of its vessel sales. The Company operates as a provider of drybulk commodities transportation services for the steel, electric utility, construction and agri-food industries. Under its offshore support segment, the Company operates as a provider of offshore support services to the global offshore energy industry. The Offshore support segment operates a diversified fleet of offshore support vessels.
Globus Maritime Ltd. (NASDAQ: GLBS) is a drybulk shipping company that provides marine transportation services on a nationwide basis. The company is a vertically integrated shipping company that owns, operates and manages a fleet of dry bulk vessels that transport the following: iron ore, coal, grain, steel products, cement, alumina and others. Currently, the fleet consists of one Kamsarmax, Panamax, and four Supramax vessels. Its operations are managed by their wholly-owned subsidiary, Globus Shipmanagement Corporation.
International shipping company specializing in seaborne transportation of drybulk commodities, Seanergy Maritime Holdings Corp. (NASDAQ: SHIP), owns over six Capesize and over two Supramax vessels. Its fleet includes eight vessels: Leadership, Gloriuship, Geniuship, Premiership, Squireship, Championship, Gladiatorship and Guardianship. The Company's subsidiaries conduct all of its operations and own all of its operating assets. The Company manages its vessel's operations, insurances and bunkering, and has the general supervision of its third-party technical and commercial managers.
Sino-Global Shipping America, Ltd. (NASDAQ: SINO) is a non-asset-based global shipping and freight logistic integrated solution provider. The Company offers solutions and value additional services to its clients in the shipping and freight chain sector. The two types of shipping agency services the company offers are loading/discharging services and protective services. For protective agency services, Sino charges a fixed fee to its clients and they are responsible for the payment of port costs and expenses. For loading/discharging agency services, the company receives the total amount from its clients and also pays the port charges on behalf of them.
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