The Maribo 61, a specialist tuna fishing ship, is run by Zhoushan Yinghai Ocean Fisheries Co in Kiribati. [Photo/WeChat ID: zjzsqdxq]

The Maribo 61, a specialist tuna fishing ship, recently brought in 50 metric tons of tuna in the central Pacific Ocean during its maiden voyage.

The vessel represented the first ocean fishing ship invested and constructed by Zhoushan Yinghai Ocean Fisheries Co in Kiribati – a central Pacific Ocean nation, which is halfway between Australia and Hawaii – with seven more sister ships to follow.

Located in East China's Zhejiang province, Zhoushan is recognized as the country's largest tuna processing and export center, with an annual processing capacity exceeding 400,000 tons. However, the industry has long been constrained by a shortage of raw tuna supplies.

In May 2023, Yinghai Ocean signed a fishery investment agreement with Kiribati. In August that year, they established a joint venture overseas.

The project, with a total investment of 1.58 billion yuan ($218.46 million), includes the construction of eight tuna purse seine vessels with the acquisition of permanent fishing licenses and the construction of an international conference center in Tarawa, capital of Kiribati.

The project is the biggest overseas investment venture by Zhoushan in recent years. Once fully operational, it's expected to provide the city with nearly 80,000 tons of raw tuna supplies annually.

Zhoushan currently has seven ocean fisheries companies operating 44 fishing vessels in countries across Africa and South America, generating an annual output value of 850 million yuan.