China’s vessel exports rose 34.8% year-on-year (y/y) to USD8.3 billion in the first three months of 2015, according to customs statistics.
The exports are likely to decrease y/y later this year as new orders placed at Chinese shipyards have been tumbling since late 2014, China National Association of Shipbuilding Industry (CANSI) said.
The bulk carriers, tankers and container ships combined accounted for 48.6% of the total exports in the first three months.
The exports of floating or semi-submersible drilling rigs and production platforms totalled USD930 million, accounting for 11% of total vessel exports.
During the first three months, the exports to Myanmar shot up to USD690 million, with the exports to Hong Kong at USD1.9 billion. The exports to Singapore stood at less than USD1.9 billion, while China’s vessel exports to Europe fell 9.2% y/y to USD970 million.
For imports, the figure rose 29.6% to USD510 million, and among the total imports, old vessels and other floating structures imported for demolition amounted to USD51.1 million during the same period.
The imports of port work vessels accounted for 43.1% of total imports at USD220 million.