| China vessel exports up 34.8% in Q1 |
| 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. Looking to later in the year, though, exports are likely show a decrease on previous years as new orders placed at Chinese shipyards have been tumbling since late 2014, the China National Association of Shipbuilding Industry (CANSI) said. Bulk carriers, tankers and container ships accounted for 48.6% of the total exports in Q1. Exports of floating or semi-submersible drilling rigs and production platforms totalled USD930 million, accounting for 11% of total vessel exports. Exports to Myanmar shot up to USD690 million, with exports to Hong Kong at USD1.9 billion. Exports to Singapore stood at less than USD1.9 billion, while vessels destined for Europe fell 9.2% y/y to USD970 million. For imports, the quarterly comparison figure rose by 29.6% to USD510 million and among total imports old vessels and other floating structures for demolition amounted to USD51.1 million. The import of port work vessels accounted for 43.1% of the total, valued at at USD220 million. |