China's vessel exports rose 34.8% year-on-year (y/y) to US$8.3bn in the first quarter of 2015, showed customs statistics.

The exports are likely to decrease y/y later this year as new orders placed at Chinese shipyards have been tumbling since late 2014, according to China National Association of Shipbuilding Industry (CANSI).

Bulkers, tankers and containership combined accounted for 48.6% of the total exports in the first three months.

The exports of floating or semi-submersible drilling rigs and production platforms totalled US$930m, accounting for 11% of total vessel exports.

During the first quarter, the exports to Myanmar jumped to US$690m, with the exports to Hong Kong at US$1.9bn. The exports to Singapore stood at less than US$1.9bn, while China's vessel exports to Europe fell 9.2% y/y to US$970m.

For imports, the figure rose 29.6% to US$510m, and among the total imports, old vessels and other floating structures imported for demolition amounted to US$51.1m during the same period.

The imports of port work vessels accounted for 43.1% of total imports at US$220m.