Quarterly report pursuant to sections 13 or 15(d)

ADVANCED TO/FROM RELATED PARTIES (Tables)

v2.4.0.8
ADVANCED TO/FROM RELATED PARTIES (Tables)
6 Months Ended
Jun. 30, 2013
Schedule Of Names and Relationship Of Related Parties [Table Text Block]
Advanced to/from related parties as of June 30, 2013 and December 31, 2012 consisted of the following:
 
 
(a)
Name and relationship of related parties
  
Name of related party
 
Relationship
 
Panxing Zhuo
 
Father of Xinrong Zhuo, a Family Member
 
Honghong Zhuo
 
Daughter of Xinrong Zhuo
 
Qing Lin
 
Brother-in-law of Xinrong Zhuo, a Family Member
 
Longfei Zhuo
 
Cousin of Xinrong Zhuo, a Family Member
 
Sunqiang Zhou
 
Brother-in-law of Xinrong Zhuo, a Family Member
 
Cheng Chen
 
Cousin of Xinrong Zhuo, a Family Member
 
Xiaojie Wu
 
Brother-in-law of Xinrong Zhuo, a Family Member
 
Xiaoqin Xu
 
An employee of an affiliate company
 
Xiaomei Yang
 
An employee of the Company and niece of Xinrong Zhuo
 
Xiaofang Zhuo
 
Cousin of Xinrong Zhuo, a Family Member
 
Longhua Zhuo
 
Sister of Xinrong Zhuo,a Family Member
 
 
 
 
 
Fujian Yihai Investment Co., Ltd.
 
An affiliate company majority owned by Longjie Zhuo, sibling of Xinrong Zhuo
 
Fuzhou Haifeng Dafu Ocean Fishing Co., Ltd.
 
An affiliate company owned by Longfei Zhuo and Honghong Zhuo
 
Fujian Lutong Highway Engineering
 
An affiliate company majority owned by Xiaojie Wu, brother-in-law of Xinrong Zhuo
 
Fujian Haiyi International Shipping Agency Co., Ltd.
 
An affiliate company to which the Company acted as a trustee equity owner. Haiyi International is ultimately majority owned and
    controlled by Sunqiang Zhou, brother-in-law of Xinrong Zhuo and a Family Member
 
 
 
 
 
Fujian Xinnong Ocean Fisheries Development Co., Ltd.
 
An affiliate company to which the Company acted as a trustee equity owner. Xinnong is ultimately owned and controlled by Xiaojie Wu
 
 
 
 
 
Fuzhou Haoyouli Fisheries Development Co., Ltd.
 
An affiliate company to which the Company acted as trustee equity owner. Haoyouli is ultimately owned and controlled by Sunqiang Zhou
 
 
 
 
 
Fuzhou Honglong Ocean Fishery Co., Ltd.
 
An affiliate company majority owned and controlled by Ping Lin, spouse of Xinrong Zhuo and a Family Member
 
PT. Avona Mina Lestari
 
An affiliate company controlled by Xinrong Zhuo family domiciled in Indonesia, engaged in fishing base management
    and fishing vessel service
 
PT. Dwikarya Reksa Abadi
 
An affiliate company controlled by Xinrong Zhuo family domiciled in Indonesia, engaged in fishing base
    management and fishing vessel service
 
Haifeng Dafu Enterprise Company Limited
 
An affiliate company domiciled in the Hong Kong Special Administrative Region of the PRC (“Hong Kong”)
 
Hai Yi Shipping Limited
 
An affiliate company domiciled in the Hong Kong
 
Fuzhou Wanhao Real Estate Property Investment Co., Ltd.
 
An affiliate company majority-owned and controlled by Qing Lin
 
China Communication Materials Central and South Co., Ltd.
 
An affiliate company majority-owned by Lutong Highway
 
Fujian Gangjun Construction Co., Ltd.
 
An affiliate company ultimately controlled by Xinrong Zhuo
 
Fuzhou Baojie Haiyi Ocean Fishing Co., Ltd.
 
An affiliate company majority-owned and controlled by Xinrong Zhuo
 
Fujian International Trading and Transportation Co., Ltd.
 
An affiliate company owned by Yihai Investment and Longhao Zhuo, sibling of Xinrong Zhuo and a Family Member
 
Fuzhou Dongxing Longju Real Estate Co., Ltd.
 
An affiliate company owned by Xinrong Zhuo
 
Shenzhen Western Coast Fisherman Pier Co., Ltd.
 
An affiliate company owned by Xinrong Zhuo
 
Pingtan Heshun Fuel Co., Ltd.
 
An affiliate company under Xinrong Zhuo’s common control
 
Fuzhou Hairong Trading Co., Ltd.
 
An affiliate company under Xinrong Zhuo’s common control
 
Hongfa Shipping Limited
 
An affiliate company owned by Xinrong Zhuo
 
China Dredgin [Member]
 
Schedule Of Advances To Related Parties [Table Text Block]
China Dredging
 
 
 
June 30, 2013
 
December 31, 2012
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
Merchant Supreme (eliminated in consolidation)
 
$
200,337,190
 
$
-
 
PME (eliminated in consolidation)
 
 
242,137
 
 
-
 
 
 
$
200,579,327
 
$
-
 
Schedule Of Advances From Related Parties [Table Text Block]
China Dredging
 
 
 
June 30, 2013
 
December 31, 2012
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
Merchant Supreme (eliminated in consolidation)
 
$
4,888,063
 
$
-
 
Merchant Supreme [Member]
 
Schedule Of Advances To Related Parties [Table Text Block]
Merchant Supreme
 
 
 
June 30, 2013
 
December 31, 2012
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
Honghong Zhuo
 
$
-
 
$
1,642,203
 
Panxing Zhuo
 
 
-
 
 
6,196,248
 
Qing Lin
 
 
-
 
 
100,855
 
Xiaofang Zhuo
 
 
-
 
 
769,251
 
Xiaomei Yang
 
 
-
 
 
7,598,782
 
China Communication Materials Central and
   South Co., Ltd
 
 
-
 
 
6,895,349
 
China Dredging (eliminated in consolidation)
 
 
4,888,063
 
 
-
 
Fujian Haiyi International Shipping Agency Co., Ltd.
 
 
-
 
 
243,117
 
Fujian Lutong Highway Engineering Construction
   Co., Ltd.
 
 
-
 
 
2,161,177
 
Fujian Yihai Investment Co., Ltd
 
 
-
 
 
13,467,150
 
Fuzhou Haifeng Dafu Ocean Fishing Co., Ltd.
 
 
-
 
 
956,315
 
Fuzhou Haoyouli Fisheries Development Co., Ltd.
 
 
-
 
 
7,204,451
 
Fuzhou Wanhao Real Estate Property Investment
   Co., Ltd
 
 
-
 
 
2,567,923
 
 
 
$
4,888,063
 
$
49,802,821
 
Schedule Of Advances From Related Parties [Table Text Block]
Merchant Supreme
 
 
 
June 30, 2013
 
December 31, 2012
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
China Dredging (eliminated in consolidation)
 
$
200,337,190
 
$
-
 
PME (eliminated in consolidation)
 
 
155,102,195
 
 
-
 
 
 
$
355,439,385
 
$
-
 
Pingtan Marine Enterprise [Member]
 
Schedule Of Advances To Related Parties [Table Text Block]
PME
 
 
 
June 30, 2013
 
December 31, 2012
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
Merchant Supreme (eliminated in consolidation)
 
$
155,102,195
 
$
-
 
Schedule Of Advances From Related Parties [Table Text Block]
 
(c)
Advance from related parties
 
PME
 
 
 
June 30, 2013
 
December 31, 2012
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
China Dredging (eliminated in consolidation)
 
$
242,137
 
$
-