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Value of China newbuilding exports falls in first eight monthsValue of China newbuilding exports falls in first eight months

The export value of newly-built ships completed at China's shipyards fell sharply in the first eight months of this year as vessel deliveries slowed.

Lee Hong Liang, Asia Correspondent

October 24, 2013

1 Min Read
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From January to August, Chinese shipbuilders generated export revenues of RMB18.86bn ($3.1bn), a drop of 30.6% over the corresponding period of last year.

In August, exports of China-built vessels were at their lowest monthly value in the past 12 months at RMB1.82bn, a plunge of 37.5% year-on-year or a reduction of RMB687m.

The main types of ships sold to foreign owners were dry bulk carriers, oil tankers and container vessels, which accounted for RMB13.49bn or 71.5% of the country's ship export values in the first eight months of 2013. The overseas sale of dry bulk carriers reached RMB8.85bn during the eight-month period, taking up 46.9% of the entire market value.

China's biggest ship export markets are Asia and Europe, with the former producing $11.72bn of sales in the first eight months and the latter scoring $2.4bn. The export values for Asia and Europe were down 21.9% and 46.3% year-on-year respectively.

Specifically, three countries that spent above $1bn to purchase China-built ships are Hong Kong, Singapore and Liberia. China sold vessels worth $4.88bn to Hong Kong, down 34.5% year-on-year; $3.17bn to Singapore, a decline of 3.9%; and $1bn to Liberia, a decrease of 46.7%.

China houses 31 provinces/cities that export vessels, and six of them attained export values of over $1bn during the first eight months. Jiangsu province came out top with export values of $4.87bn, followed by Shanghai city commanding $2.95bn and Liaoning in third position with $2.7bn.

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About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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