Quarterly report pursuant to sections 13 or 15(d)

TERM LOANS (Details 2)

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TERM LOANS (Details 2) (USD $)
Jun. 30, 2013
Dec. 31, 2012
Long-term loans $ 11,381,041 $ 8,094,308 [1]
Weighted average interest rate for the six months ended June 30, 2013 and 2012 3.60% 1.10%
Minsheng Bank Of China, Fuzhou Branch [Member]
   
Long-term loans 9,751,686 6,509,170
Fujian Haixia Bank, Fuzhou Hualin Branch [Member]
   
Long-term loans $ 1,629,355 $ 1,585,138
[1] Represents the consolidation retrospectively restated as if Pingtan Marine Enterprise Ltd. (formerly known as China Growth Equity Investment Ltd.) completed its merger with China Dredging Group Co., Ltd. and the share purchase of Merchant Supreme Co., Ltd. on January 1, 2012 rather than on February 25, 2013.