Chinese vessel exports’ growth decreased to 19.1% year on year (y/y), with total exports at USD12.8 billion in the first five months of 2015, according to customs statistics.
In May alone, the exports decreased 15.9% y/y to USD2.4 billion, the customs said.
The exports are forecast to decrease further in 2015, as new orders placed at Chinese shipyards have been tumbling since late 2014, China National Association of Shipbuilding Industry said.
The bulk carriers, tankers, and container ships combined accounted for 52.5% of total exports in the first five months. Their respective exports posted steep falls during the same period from a year ago.
The exports of floating or semi-submersible drilling rigs and production platforms totalled USD1.8 billion, up 362.5% y/y, accounting for 14.1% of total vessel exports.
Related news:Chinese ship exports up 31.2% y/y
During January-May, exports to Asia rose 38.7% y/y to USD8.3 billion, accounting for 65% of total exports. Exports to Europe slid 25.2% y/y to USD1.5 billion and accounted for 12.1% of total exports. Exports to Hong Kong and Singapore combined accounted for 46.7% of total exports.
For imports, the figure rose 7.9% y/y to USD610 million in the first five months of 2015. Imports of old vessels and other floating structures imported for demolition fell 37.4% y/y to USD110 million during the same period.
This post was sourced from IHS Maritime 360: View the original article here.