Shipbuilding exports reach lowest since 2017 despite China order recovery

China 2435 Corp - Shipping 753 Japan 484 South Korea 480 Theme - Shipbuilding 91

China’s shipbuilding industry recovered somewhat in April with new orders up by 1.8% and deliveries rising 9.6% compared to a year earlier. Yet, that was driven entirely by domestic orders – export orders fell by 7.4%. That’s not a surprise given worries about the finances of the global shipping industry. Taking Chinese exports alongside those from South Korea and Japan shows total exports fell by 36.7% to their lowest level since November 2017. The prior low came in the wake of the financial failure of Hanjin Shipping.

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