Pingtan Marine Enterprise (PME) S-3 Shelf registration

Exhibit 12.1

	Nine Months
	Ended
	September 30,			Year Ended December 31,
	2016			2015		2014		2013		2012		2011
Ratio of earnings to fixed charges(1)		(9.31	)		7.06		17.02		12.47		8.94		12.82

(1) For the purposes of computing ratio of earnings to fixed charges, earnings consist of loss before income taxes plus fixed charges. Fixed charges consist of interest charges and that portion of rental payments under operating leases we believe to be representative of interest. Earnings for the nine months ended September 30, 2016 and the years ended December 31, 2015, 2014, 2013, 2012, 2011 were insufficient to cover fixed charges by $22.7 million, nil, nil, nil, nil and nil, respectively.

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	Six Months
	Ended
	June 30,			Year Ended December 31,
	2016			2015			2014			2013			2012			2011
(In U.S. Dollars)
Fixed charges:
Interest expense	$	918,124		$	3,630,200		$	4,815,670		$	3,301,696		$	2,876,253		$	844,650
Capitalized interest		416,705			-			836,902			1,094,589			545,407			109,899
Interest factor in rental expenses		-			-			-			-			-			-
Total fixed charges	$	1,334,829		$	3,630,200		$	5,652,572		$	4,396,285		$	3,421,660		$	954,549
Earnings available for fixed charges:
Add:
Income before income taxes	$	(9,999,581	)	$	19,558,402		$	85,760,705		$	47,135,794		$	24,280,268		$	10,440,337
Fixed charges (calculated above)		1,334,829			3,630,200			5,652,572			4,396,285			3,421,660			954,549
Deduct:
Capitalized interest		(416,705	)		-			(836,902	)		(1,094,589	)		(545,407	)		(109,899	)
Net (loss)/income - noncontrolling interests		675,315			(1,205,485	)		-			-			-			-
Total earnings available for fixed charges	$	(7,071,313	)	$	25,613,317		$	96,228,947		$	54,833,775		$	30,578,181		$	12,239,536
Ratio of earnings to fixed charges		(5.30	)		7.06			17.02			12.47			8.94			12.82
Insufficient to cover	$	8,406,142		$	-		$	-		$	-		$	-		$	-

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