| Ship exports of Zhoushan in Zhejiang Province, China, are expected to increase by 15% this year, showed data released by the local government. The city's ship exports valued a total of USD2.538 billion in 2014, up 6.68% from the USD2.379 billion in 2013. According to Fu Zhiye, a local ship trade expert, the increase can be achieved if the cash flow of local yards improves this year, since some of the orders received years ago are scheduled to be delivered in 2015. The 15% increase will translate to approximately USD380 million or the total price for 13 Panamaxes, which is not difficult to achieve with enough cash flow, Fu told local media. However, Fu warned that newbuilding trading volume may continue to drop due to weak global economy recovery. “Take bulk carriers for example, the current price is only 50% of the peak time, down by nearly 50%, and prices of other ship types have dropped nearly 30%,” Fu told local media. Last year, yards in Zhoushan has received new orders amounting to 6.55 million dwt, sharing 85% of Zhejiang's total. Fu pointed out that the top 10 local yards received new orders, but many yards received nothing. |