Which Country Imports 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, approx. 61M tonnes of shipping were imported worldwide; leveling off at the previous year level. The total import volume increased at an average annual rate of +2.6% from 2007 to 2016; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008, an increase of 22% against the previous year level. Over the period under review, global shipping imports attained its maximum volume of 61M tonnes in 2015, leveling off in the following year.

In value terms, shipping imports amounted to $55B in 2016. Overall, shipping imports continue to indicate a relatively flat trend pattern. Over the period under review, global shipping imports reached its maximum level of $99B in 2010; however, from 2011 to 2016, it stood at a somewhat lower level.

Top Shipping Importing Countries in the World

1. Germany (2.3 billion USD)

2. Bermuda (1.7 billion USD)

3. Poland (1.6 billion USD)

4. South Korea (1.6 billion USD)

5. Indonesia (0.7 billion USD)

6. Netherlands (0.7 billion USD)

7. Japan (0.6 billion USD)

8. Philippines (0.2 billion USD)

Shipping Imports By Country

Japan (21M tonnes), and South Korea (16M tonnes) were the main importers of shipping in 2016, recording near 34%, and 26% of total imports, respectively. The Netherlands (6.6M tonnes) ranks second globally in shipping imports with a 11% share, following Germany (8%). The following importers - the Philippines (1.3M tonnes), Bermuda (1.3M tonnes), Poland (1.2M tonnes), and Indonesia (931K tonnes) occupied approx. 8% of total imports, each.

From 2007 to 2016, the most notable growth rate of shipping imports, among the main importing countries, was attained by the Philippines (+41.5% per year), while the other global leaders experienced more modest paces of growth.

In value terms, the largest shipping markets worldwide were Germany ($2.3B), Bermuda ($1.7B) and Poland ($1.6B), together comprising 10% of global imports. These countries were followed by South Korea, Indonesia, the Netherlands, Japan and the Philippines, which together accounted for a further 7%.

Indonesia (+12.6% per year) had the highest rates of growth with regard to the shipping imports, in terms of the main importing countries, over the last 9 year period, while the other global leaders experienced more modest paces of growth.

Shipping Import Prices By Country

The average shipping import price stood at $910 per tonne in 2016, growing by 5% against the previous year. Overall, shipping import price continues to indicate a pronounced drop. The most prominent rate of growth was recorded in 2009, when import increased by 16% y-o-y. Over the period under review, average shipping import price attained its maximum level of $1,862 per tonne in 2010; however, from 2011 to 2016, it stood at a somewhat lower level.

Import prices varied noticeably by country of destination. the country with the highest import prices was Poland ($1,297 per tonne), while Japan ($28 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of shipping import prices was attained by Poland (+3.1% per year), while the other global leaders experienced mixed trends in the import 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