Di Yi Cai Jing·2025-06-18 07:18Core Insights - The automotive industry in China is experiencing a significant increase in exports, leading to a "buying ships" movement among major domestic brands to secure transportation capacity and reduce costs [1][3][5] - Major companies like SAIC Group and BYD are investing in building their own fleets of car transport ships to ensure supply chain stability and efficiency [2][4][5] - The global automotive transport ship market is dominated by Japanese, Norwegian, and South Korean companies, but Chinese companies are gradually increasing their market share [6][7] Group 1: Export Growth and Shipbuilding - China's automotive exports surged from 1 million units in 2020 to over 5 million units in 2023, marking a nearly fivefold increase in four years [3] - The rental price for car transport ships has skyrocketed from $10,000 per day in mid-2020 to $115,000 per day by the end of 2023, reflecting the high demand for shipping capacity [3] - SAIC Logistics has ordered 12 new ships with capacities ranging from 7,600 to 9,500 car spaces, expected to be delivered by 2026, providing an annual capacity of over 600,000 vehicles [4] Group 2: Strategic Moves by Companies - BYD has confirmed the construction of eight car transport ships with a total cost of nearly 5 billion yuan, with four already in operation [4] - Chery Group, the top exporter in 2022 with over 1.14 million units, and SAIC Group, with nearly 1.04 million units exported, are also expanding their shipping capabilities [5] - The trend of building and owning transport ships is not unique to China, as Japanese automakers have historically invested in their shipping fleets to support global distribution [6][7] Group 3: Market Dynamics and Future Outlook - As of April 2025, Chinese shipowners hold a 7.6% share of the global automotive transport ship market, with SAIC Group ranking 15th globally [7] - Concerns are rising about potential oversupply in the automotive transport ship market due to the rapid increase in fleet size compared to the slowing growth of automotive exports [7][8] - Experts suggest that collaboration among different automotive brands could mitigate risks associated with potential oversupply in the shipping market [8]