Which Country Exports the Most Refrigerated Vessels in the World?

Building Of Ships And Floating Structures May 28, 2018
Author: Sergey Avramenko
Head of Global Markets Research Team

In 2016, the amount of shipping exported worldwide stood at 44M tonnes, waning by -2.5% against the previous year level. The total export volume increased at an average annual rate of +2.4% from 2007 to 2016; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2009, an increase of 10% against the previous year level. Global shipping export peaked of 45M tonnes in 2015, falling back in the following year.

In value terms, shipping exports amounted to $77B in 2016. In general, shipping exports continue to indicate a relatively flat trend pattern. Global shipping export peaked of $129B in 2011; however, from 2012 to 2016, it stood at a somewhat lower level.

Top Shipping Exporting Countries in the World

1. South Korea (25.1 billion USD)

2. Japan (12.2 billion USD)

3. Germany (3.7 billion USD)

4. Poland (2.1 billion USD)

5. Philippines (1.0 billion USD)

6. Netherlands (0.1 billion USD)

Shipping Exports By Country

Japan (21M tonnes) was the main exporter of shipping in the world, resulting at 21M tonnes, which was approx. 48% of total exports in 2016. South Korea (11M tonnes) held a 25% share (based on tonnes) of global shipping exports, which put it in second place, following the Netherlands (8%), and Germany (6%). The following exporters - the Philippines (1.3M tonnes), and Poland (1.2M tonnes) took near 6% of total exports, each.

From 2007 to 2016, the most notable growth rate of shipping exports, among the main exporting countries, was attained by the Philippines (+62.4% per year), while the other global leaders experienced more modest paces of growth.

In value terms, South Korea ($25B) remains the largest shipping supplier in the world, making up 33% of global exports. The second position in the ranking was occupied by Japan ($12B), with the share of 16% of global exports. It was followed by Germany, with the share of 5%.

From 2007 to 2016, the average annual growth rate of value of shipping exports in South Korea stood at +0.7%. In the other countries, the average annual rates were as follows: Japan (-2.2% per year) and Germany (+1.5% per year).

Shipping Export Prices By Country

In 2016, the average export price for shipping amounted to $1,758 per tonne, surging by 2% against the previous year. Overall, shipping export price continues to indicate a moderate deduction. The most prominent rate of growth was recorded in 2008, when export increased by 30% year-to-year. Global shipping export peaked of $3,062 per tonne in 2011; however, from 2012 to 2016, it failed to regain its strength.

There were significant differences in the average export prices amongst major exporting countries. In 2016, the country with the highest export prices was South Korea ($2,340 per tonne), while the Netherlands ($35 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of shipping export prices was attained by Poland (+1.0% per year), while the other global leaders experienced a decline in the export price figures.

Do you want to know more about global shipping market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • shipping market share
  • shipping prices
  • shipping industry
  • shipping sales
  • shipping import
  • shipping export
  • shipping market forecast
  • shipping price forecast
  • key shipping producers

All data provided in this article covers the following product: HS Code 8901 - Cruise ships, excursion boats, ferry-boats, cargo ships, barges and similar vessels for the transport of persons or goods.

Source: World: Refrigerated Vessels (Ships) - Market Report. Analysis and Forecast to 2025