Price for Tugs and Pusher Craft in the Philippines - 2023

Contents:

1. Price for Tugs and Pusher Craft in the Philippines (CIF) - 2022
2. Price for Tugs and Pusher Craft in the Philippines (FOB) - 2022
3. Imports of Tugs and Pusher Craft in the Philippines
4. Exports of Tugs and Pusher Craft in the Philippines

Price for Tugs and Pusher Craft in the Philippines (CIF) - 2022

In 2022, the average tugs and pusher craft import price amounted to $1,909,952 per unit, rising by 4.5% against the previous year. In general, the import price showed a significant increase. The most prominent rate of growth was recorded in 2017 an increase of 138%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($4,398,121 per unit), while the price for Taiwan (Chinese) ($19,169 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+31.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Tugs and Pusher Craft in the Philippines (FOB) - 2022

The average tugs and pusher craft export price stood at $48,966 per unit in 2022, falling by -8.4% against the previous year. Overall, the export price showed a precipitous curtailment. The most prominent rate of growth was recorded in 2017 an increase of 15% against the previous year. The export price peaked at $841,312 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($72,529 per unit), while the average price for exports to Singapore ($84 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-13.1%), while the prices for the other major destinations experienced a decline.

Imports of Tugs and Pusher Craft in the Philippines

In 2022, tugs and pusher craft imports into the Philippines soared to 11 units, picking up by 120% against the previous year's figure. Over the period under review, imports continue to indicate a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tugs and pusher craft imports skyrocketed to $21M in 2022. In general, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Tugs and Pusher Craft to the Philippines in 2022:

1. Taiwan (Chinese) (3.0 units)
2. Indonesia (3.0 units)
3. Japan (2.0 units)
4. Singapore (1.0 units)
5. Malaysia (1.0 units)
6. China (1.0 units)

Exports of Tugs and Pusher Craft in the Philippines

In 2022, the amount of tugs and pusher crafts exported from the Philippines stood at 8 units, increasing by 14% compared with the previous year's figure. The total export volume increased at an average annual rate of +4.6% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tugs and pusher craft exports expanded sharply to $387K in 2022. Over the period under review, exports, however, recorded a abrupt decrease. The exports peaked at $502K in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Top Export Markets for Tugs and Pusher Craft from the Philippines in 2022:

1. Indonesia (5.0 units)
2. South Korea (2.0 units)
3. Singapore (1.0 units)

Source: IndexBox Market Intelligence Platform