Financing problems stymying China’s expansion into Antarctic krill fishery

Antarctic krill.

Financial problems are slowing China’s planned expansion into Antarctica’s krill fishery.

Rising costs are among the reasons for the shelving of plans for krill trawlers by various Chinese fishery firms. At one point, 15 Chinese companies had plans to build krill trawlers, among them Pingtan Marine, which later canceled its plan for a krill vessel.

In 2019, Shanghai Chong He Industry Group – also known as Chong He Marine Heavy Industries – launched the 120-meter-long Shen Lan, which completed its maiden voyage in May 2020.  And in October 2022, Fujian Zhengguan Fishery Development announced plans for the 132-meter-long Fu Yuan Yu 9199, slated to be China’s largest krill-fishing vessel, at a cost of CNY 690 million (USD 96.6 million, EUR 92.7 million) ... 

Photo courtesy of TRR/Shutterstock

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