Related Parties Transactions (Tables)
|
6 Months Ended |
Jun. 30, 2016 |
|---|
| Related Party Transaction [Line Items] |
|
| Schedule of prepaid expenses - related parties |
| |
|
June 30,
2016 |
|
|
December 31, 2015 |
|
| Prepaid miscellaneous items to PT. Avona Mina Lestari (1) |
|
$ |
1,124,684 |
|
|
$ |
1,127,257 |
|
| Prepaid fuel cost to Hai Yi Shipping Limited (2) |
|
|
781,582 |
|
|
|
783,370 |
|
| Prepaid fuel cost to Haifeng Dafu Enterprise Company Limited (3) |
|
|
866,686 |
|
|
|
868,668 |
|
| Prepaid fuel cost to Hong Fa Shipping Limited (4) |
|
|
- |
|
|
|
1,860,871 |
|
| Prepaid miscellaneous items to Hong Long |
|
|
4,796 |
|
|
|
- |
|
| |
|
$ |
2,777,748 |
|
|
$ |
4,640,166 |
|
|
(1) |
PT. Avona Mina Lestari is an affiliate company controlled by Xinrong Zhuo family. |
|
(2) |
Hai Yi Shipping Limited is an affiliate company ultimately controlled by Xinrong Zhuo, CEO of the Company. |
|
(3) |
Haifeng Dafu Enterprise Company Limited is an affiliate company ultimately controlled by Xinrong Zhuo, CEO of the Company. |
|
(4) |
Hong Fa Shipping Limited is an affiliate company owned by Xinrong Zhuo, CEO of the Company. |
|
| Schedule of other receivable - related parties |
| |
|
June 30,
2016 |
|
|
December 31, 2015 |
|
| Advance to Zhiyan Lin (1) |
|
$ |
3,578,693 |
|
|
$ |
3,836,258 |
|
| Advance to Honghong Zhuo (2) |
|
|
- |
|
|
|
4,051,269 |
|
| |
|
$ |
3,578,693 |
|
|
$ |
7,887,527 |
|
|
(1) |
Zhiyan Lin is a shareholder and legal representative of Pingtan Fishing. |
|
(2) |
Honghong Zhuo is daughter of Xinrong Zhuo. |
|
| Schedule of accounts payable - related parties |
| Name of related party |
|
June 30,
2016 |
|
|
December 31, 2015 |
|
| Hong Fa Shipping Limited |
|
$ |
1,726,973 |
|
|
$ |
- |
|
| Hong Long |
|
|
- |
|
|
|
408,631 |
|
| |
|
$ |
1,726,973 |
|
|
$ |
408,631 |
|
|
| Schedule of due to related parties |
| |
|
June 30,
2016 |
|
|
December 31, 2015 |
|
| Advance from Xinrong Zhuo, Chief Executive Officer |
|
$ |
- |
|
|
$ |
1,361,290 |
|
| Accrued compensation for Xinrong Zhuo |
|
|
3,354 |
|
|
|
3,354 |
|
| Accrued compensation for Roy Yu, Chief Financial Officer |
|
|
20,000 |
|
|
|
20,000 |
|
| |
|
$ |
23,354 |
|
|
$ |
1,384,644 |
|
|
| Schedule of purchases from related parties |
| |
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
| |
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
| Purchase of fuel, fishing nets and other on board consumables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| from PT Avona Mina Lestari |
|
$ |
- |
|
|
$ |
7,944 |
|
|
$ |
- |
|
|
$ |
7,944 |
|
| from Hong Fa Shipping Limited |
|
|
6,257,681 |
|
|
|
2,784,181 |
|
|
|
8,980,834 |
|
|
|
5,840,078 |
|
| from Haifeng Dafu Enterprise Co., Ltd. |
|
|
313 |
|
|
|
5,653 |
|
|
|
12,316 |
|
|
|
5,653 |
|
| from Hai Yi Shipping Ltd. |
|
|
2,227 |
|
|
|
34,877 |
|
|
|
3,136,087 |
|
|
|
34,877 |
|
| from PT. Dwikarya Reksa Abadi |
|
|
- |
|
|
|
8,907 |
|
|
|
- |
|
|
|
8,907 |
|
| |
|
|
6,260,221 |
|
|
|
2,841,562 |
|
|
|
12,129,237 |
|
|
|
5,897,459 |
|
| Purchase of vessel maintenance service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| from PT. Dwikarya Reksa Abadi |
|
|
- |
|
|
|
1,956,677 |
|
|
|
- |
|
|
|
1,956,677 |
|
| |
|
|
- |
|
|
|
1,956,677 |
|
|
|
- |
|
|
|
1,956,677 |
|
| Purchase of transportation service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| from Fuzhou Honglong Ocean Fishery Co., Ltd. |
|
|
- |
|
|
|
12,089 |
|
|
|
- |
|
|
|
180,609 |
|
| from Hai Yi Shipping Limited |
|
|
- |
|
|
|
297,518 |
|
|
|
- |
|
|
|
297,518 |
|
| |
|
|
- |
|
|
|
309,607 |
|
|
|
- |
|
|
|
478,127 |
|
| Purchase of Indonesia vessel agent service |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| from PT. Avona Mina Lestari (1) |
|
|
- |
|
|
|
2,357 |
|
|
|
- |
|
|
|
2,357 |
|
| |
|
$ |
- |
|
|
$ |
2,357 |
|
|
$ |
- |
|
|
$ |
2,357 |
|
|
(1) |
PT. Avona Mina Lestari acts as Pingtan Fishing’s agent to apply and renew Indonesia fishing licenses and Pingtan Fishing pays the agent service fees to it. |
|
| Ping Lin [Member] |
|
| Related Party Transaction [Line Items] |
|
| Schedule of future minimum rental payments required |
| Twelve-month period Ending June 30: |
|
Amount |
|
| 2017 |
|
$ |
1,071 |
|
|
| Hai Yi Shipping Limited [Member] |
|
| Related Party Transaction [Line Items] |
|
| Schedule of future minimum rental payments required |
| Twelve-month period ending June 30: |
|
Amount |
|
| 2017 |
|
$ |
230,860 |
|
|