China’s vessel exports rose 31.2% year on year (y/y) to USD10.4 billion during the first four months of 2015, according to Chinese customs statistics.
Exports are forecast to decrease y/y later this year as new orders placed in Chinese shipyards have been decreasing since late 2014, China Association of the National Shipbuilding Industry (CANSI) said.
In April, exports fell 3.9% to USD2.1 billion from March.
Bulk carriers, tankers, and container ships combined, accounted for 53.5% of total exports in the first four months. However, exports of these ship types plummeted compared with the same period a year ago.
Exports of floating or semi-submersible drilling rigs and production platforms totalled USD930 million, up 410.8% y/y, accounting for 9% of total vessel exports.
During the first four months, exports to Asia rose 52.6% y/y to USD6.6 billion, accounting for 64% of total exports. Exports to Hong Kong, Singapore, and Myanmar also rose to USD2.5 billion, USD2.2 billion, and USD690 million respectively.
China’s vessel imports increased by 11.3% y/y to USD580 million in the first four months of 2015. Imports of port work vessels totalled USD220 million.