China’s vessel exports’ growth slowed further down to 10.2% year on year (y/y), with total exports at USD16.8 billion in the first seven months of 2015, according to Chinese customs statistics.
In July alone, the exports decreased 4.6% y/y to USD2.1 billion, the customs said.
The vessel exports are forecast to rise by about 5% y/y in 2015 as new orders placed at Chinese shipyards have been tumbling since late 2014, China Association of the National Shipbuilding Industry (CANSI) said.
The bulk carriers, tankers, and container ships combined accounted for nearly 55.6% of the total exports in the first seven months. The exports of container ships posted a steep fall during the same period from a year ago, with the number of bulk carriers and tankers posting gains.
The exports of floating or semi-submersible drilling rigs and production platforms totalled USD1.8 billion, up 129.8% y/y, with no exports recorded from May to July.
During the first seven months, the exports to Asia rose 24.2% y/y to USD10.5 billion, accounting for 62.6% of total exports. The exports to Hong Kong and Singapore rose 1.8% and 45.6% to USD4.3 billion and USD3.4 billion, respectively.
For imports, the figure rose 15.9% y/y to USD840 million in the first seven months of 2015. Imports of old vessels and other floating structures imported for demolition fell 34.5% y/y to USD150 million during the same period.