Yet more Chinese tuna vessels are to set sail under a CNY 100 million (USD 14 million, EUR 13 million) investment by a firm that controls southern China’s biggest port.
Guangzhou Distant Water Fishing Co. will launch three “top professional” tuna trawlers this autumn, according to the company. The boats are currently under construction at a cost of CNY 33.99 million (USD 4.76 million, EUR 4.42 million) at the shipyard of Huang Hai (Yellow Sea) Shipbuilding Co. Ltd., where work commenced in February. Each vessel is 41.9 meters in length and 7.2 meters wide, with tonnage at 350 tons.
Guangzhou Distant Water Fishing Co. is a subsidiary of the state-owned Guangzhou Port Group Co., which handles much of the trade into and out of China’s key southern manufacturing base through its Nansha Terminal.
The Guangzhou-based fishing firm also announced it will spend CNY 70 million (USD 9.8 million, EUR 9.1 million) by on the refurbishment of six other vessels, which will increase the company’s capacity and range. The expansion is “in keeping with the spirit of the Belt and Road Initiative,” according to the company, referencing the Chinese government blueprint for integrating regional economies into China’s orbit through infrastructure and investment.
The expansion of Guangzhou’s distant-water footprint appears to be backed by local government. A document summarizing the city’s fishing operations, published in January by the municipal offices of the Agriculture Ministry, noted the number of ocean-going fishery enterprises based in the province has increased from five to seven over the past two weeks, while the number of ocean-going fishing vessels have increased from 28 to 45, an increase of 60 percent. That number will further increase to 68 by the end of the year, according to the document, and in 2019, the output of ocean-going fisheries is expected to be 14,000 metric tons, a doubling of capacity in the past two years.
Guangzhou Distant Water Fishing Co. has stated ambitions to be a global leader in port management, but has also entered the construction and real estate spheres. One of its projects is the redeveloped Huangsha Aquatic Products Wholesale Market.
Photo courtesy of Huang Hai (Yellow Sea) Shipbuilding Co. Ltd.
