Quarterly report pursuant to sections 13 or 15(d)

TERM LOANS (Details)

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TERM LOANS (Details) (USD $)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Dec. 31, 2012
Short-term loans $ 22,363,811   $ 22,363,811   $ 25,169,260 [1]
Maximum balance outstanding during the period/year     25,169,260   25,169,260
Interest expenses 422,912 525,986 984,129 1,440,328  
Weighted average interest rate for the nine months ended September 30, 2013 and 2012 1.60%   1.60%   2.70%
Industrial and Commercial Bank Of China [Member]
         
Short-term loans 13,376,883   13,376,883   14,390,323
Fujian Haixia Bank [Member]
         
Short-term loans 8,986,928   8,986,928   7,133,120
China Minsheng Banking Corp Limited [Member]
         
Short-term loans $ 0   $ 0   $ 3,645,817
[1] Represents the consolidation retrospectively restated as if Pingtan Marine Enterprise Ltd. (formerly known as China Growth Equity Investment Limited) 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. Assets and liabilities of discontinued operations are retrospectively restated as of December 31, 2012 after taking into account of the Group’s plan to sell China Dredging Group Co., Ltd. and its subsidiaries to the Company’s Chairman, CEO and major shareholder, Mr Xinrong Zhuo.