Q1: China's ship export slows

During the first three months this year, China's ship export showed a slow growth rate, with $10.36bn in total, up by 3.1% year-on-year. Ship import decreased by 19.4% to $400m, according to a statistical data from the General Administration of Customs of China.

In March, ship export stood at $3.42bn, up by $910m on previous month but down by 3.6% year-on-year. During the same month, ship import declined to $140m, down by $6m month-on-month and down by 41.8% year-on-year.

Although China's ship export maintained to grow in Q1, its growth rate is slowing. Recently, it is expected for Chinese ship exports not to show increase in the second quarter, while yards' orderbook and new order are decreasing amid depressed global shipping and shipbuilding markets.

Meanwhile, in Q1, Chinese yards exported a total of 33 ship types, of which commercial ship took around $7.89bn, particularly bulker accounted for 59.6% of overall ship export with $6.17bn.

China exported to a total of 127 nations or areas. Asia is the largest market, making up 51.7% of ship export with $5.36bn, up by 13.3% year-on-year in value terms.

However, ship export to Europe and the US massively dropped. Exported ship to Europe totalled $1.78bn, down by 34.8% year-on-year.


Published : May 9, 2012