In-depth | CHINA SHIP NEWS Country
Global Europe
European Union 15 EU countries
12 countries of EU eastwards expansion
1 2 3 4
5 6 7 8 9
10 11 12
13 14 15 16 17 18
19 20 21 22
Export value
3570552.5 797606.3 773375.0 613409.7 159965.3
Republic of the Marshall Islands
Liberia 318210.8 Panama 227804.2 Germany 209128.8 146998.0
Malta 101398.2 Italy 87827.8
The Netherlands 82081.1 Greece 78509.4 UK 60476.3
Antigua and Barbuda
Norway 59318.6 Cyprus 54257.4 53407.5
France 37055.9
British Virgin Islands
Switzerland 8737.3 Bahamas 29069.9 Bermuda 17071.8 Denmark 14783.1 14493.1
Portugal 14450.4 Belgium 12098.5 Finland 11935.8 Poland 4000.9
Source: General Administration of Customs, China
and the US fell 19% and 24% respectively. According to a survey conducted by the China Chamber of Commerce for Import & Export of Machinery & Electronic Products in November 2011, nearly all enterprises that were engaged in the import-export trade of ship and ship accessories said they had felt the impact of the Euro crisis; 37% of the enterprises said they had felt an apparent impact; 60% said they had felt a certain level of impact; 68% said exports to Europe had fallen since the beginning of 2011, of which 21.4% said exports to Europe had fallen by 10-20%. Since 2011, the Euro crisis has caused
the global shipbuilding industry to decline again from a short-term recovery. At present, European shipowners have found it difficult to get finance for shipbuilding from banks. Europe used to place the largest volume of newbuilding orders, however, the decrease in newbuilding
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orders has affected the recovery of the ship building market and the survival of some shipyards. Europe is the second largest market of
China’s ship product exports. Te value of ship products exported from China to Europe accounted for at least 20% of the total export value of China’s ship products. In the first 10 months of 2011, China exported ship products amounting to US$7.97 billion to the EU market, accounting for 22.3% of the total ship product export value and representing a year-on-year decrease of 11%. China’s ship product exports to the
EU that were affected by the debt crisis in that period amounted to US$7.73 billion, accounting for 21.7% of the total ship product export, representing an 11.8% drop. European countries, including some non-EU states, such as Poland, Switzerland,
% of total export value
-
22.34 21.66 17.18
8.91 6.38 5.86 4.12
2.84 2.46 2.3 2.2
1.69 1.66 1.52 1.5
1.04 0.24 0.81 0.48 0.41 0.41
0.4
0.34 0.33 0.11
Year-on-year change
7.84
-10.95 -11.81 -10.2
5.94
-17.57 -22.97 -0.48
-14.81 -28.51 41.08 -28.9 7.07
26.72 -18.74 -5.41
-9.34
-28.75 -37.08 156.86 25.81 27.53
89314.19 32.96
5258.25 -49.32
Table 1: Statistics of ship product exports from China to the EU in January – October 2011 (Unit: US$0,000)
Greece, Italy and Norway have recorded the largest year-on-year falls. In the first 10 months in 2010 ship exports from China to the EU amounted to US$8.95 billion, up 41.6% year-on-year and accounted for 27.1% of total exports. In the first 10 months in 2011, ship
product exports from China to the EU fell 11.8% overall compared to the same period in the previous year, basically forming a downward trend month by month. During that 10-month period, the biggest year-on-year increases -- 55.2% and 31.8% -- were recorded in March and September respectively; the biggest year-on-year falls – 52.5% and 31.5% -- were recorded in February and June respectively.
Ship export market in search of an exit The world’s economic outlook has been gloomy since the spreading of the Euro crisis. On 1 December 2011, Te United Nations stated in an annual economic forecast report that because the Euro crisis may slow global economic development further, it lowered the global economic growth forecast for 2012 to 2.6%, compared to 2.8% in 2011. The economic outlook in the mature
economies will grow at a relatively low level for a longer period of time. Te IMF forecasts that, when figures are released, the global economic growth will have slowed to 4% in 2012 from 5% in 2011. In November 2011, the unemployment
rate in the US fell to 8.6% from October’s 9%. These figures showed that
the US
labour market has remained weak and the unemployment rate has been maintained at a relatively high level. If the US and European countries cannot solve their unemployment problems and prevent the financial and debt crisis from worsening further, there will be serious risks to the global economy. Tis year is a critical year for the recovery
or recession of the global economy. It is estimated that new economies such as China, Brazil and India etc. -- with an average growth rate of 5.4% (in 2011), lower than the 7.1% growth rate in 2010 -- will continue to drive actual economic development.
The Naval Architect September 2012
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