China’s ship exports in January-April totalled USD10.38 billion, an increase of 31.2% year on year (y/y), according to data released by Chinese Customs.
During the same period, ship imports were valued at USD580 million, up 11.3% y/y. According to the Customs, exports of bulk carriers, container ships, and tankers dropped in the first four months in 2015, amounting to USD5.55 billion in total, while exports of floating and semi-submersible drilling/production platforms surged 410.8% y/y, standing at USD930 million.
China exported ships to 162 countries and Asia was the largest destination with total export value of USD6.64 billion, an increase of 52.6% y/y. China’s ship exports to Asia makes up 64% of the country’s total exports.
Related news:Chinese vessel exports up 31.2% y/y
Among the 27 Chinese provinces exporting ships, Jiangsu ranked first with exports worth USD3.13 billion from January-April, up 82.2% y/y, followed by Guangdong with USD1.57 billion, an increase of 158.8% y/y. Ship exports from Shanghai dropped 17.4% y/y to USD1.45 billion.
The country imported light ships, firefighting ships, and crane vessels worth USD220 million in the first four months of 2015, and imports from Asia stood at USD310 million, growing 104% y/y.
China’s ship exports will drop in the future, as the orderbooks of Chinese shipyards continue to decrease, projected the Customs.
This post was sourced from IHS Maritime 360: View the original article here.