Market evolution: Other vessels (CN 890690) — 2015–2025

Introduction

This report analyses the evolution of European Union trade in "other vessels" (customs code 890690) with non-EU partners between 2015 and 2025. The code covers a residual category of vessels, including lifeboats, but excluding warships, specialised vessels like cruise ships or dredgers, and vessels for breaking up. The period witnessed a significant structural shift in trade flows, characterised by a pronounced move towards higher-value, lower-volume transactions. This suggests a market increasingly focused on specialised or premium vessel types rather than bulk, lower-value units.

The great divergence: soaring unit values amidst falling trade volumes

A defining trend of the 2015–2025 period is the stark decoupling between trade values and physical quantities. While the aggregate value of EU trade with the rest of the world remained relatively stable, the volume of vessels traded, measured in both tonnes and number of items, contracted sharply.

Exports pivoted to high-value, low-volume trade

EU exports of other vessels underwent a dramatic transformation. Although the total export value decreased by 33.0% from €725.7 million in 2015 to €485.9 million in 2025, the quantity exported in tonnes collapsed by 82.4% (from 6,943 t to 1,221 t). This indicates a massive increase in unit values. The price per tonne surged by 253.8% to reach €58,455/t in 2025, while the price per item (supplementary unit) rose by 193.6% to €144,185 per piece. This points to a shift from exporting numerous, potentially smaller or lighter vessels to exporting fewer, but significantly more valuable, units. For instance, the product segment breakdown shows that exports of sea-going vessels (89069010), which dominate in value, fluctuated considerably but remained the largest component.

Imports followed a similar high-value trajectory

EU import values remained remarkably stable (-0.3%), at approximately €149.2 million in 2025. However, this stability masks a profound shift in the composition of imports. The quantity imported fell by 65.8% (from 1,606 t to 549 t), while the price per tonne increased by 439.9% to €77,213/t. The price per imported item also rose by 212.3% to €28,866 per piece. This confirms that the EU is sourcing fewer but much more expensive vessels from external partners.

The trade balance narrowed but remained positive

The EU maintained a consistent trade surplus in other vessels throughout the period. The surplus stood at €576.0 million in 2015 and €336.7 million in 2025, a decline of 41.5%. The surplus peaked at €774.2 million in 2017 before contracting, mirroring the general decline in export volumes.

Source: Compiled from data in the General Overview.

Reorientation of trade partnerships and rising concentration

The geographical focus of EU trade in other vessels shifted substantially, with new partners gaining prominence and the degree of market concentration increasing, particularly on the export side.

Import sources: China's dramatic rise and Norway's consistency

China became a central figure in EU imports. Its share of EU import value surged by 836.6% over the period, growing from €3.3 million in 2015 to €30.5 million in 2025. Norway remained a major and stable supplier, with imports growing by 17.8% to €48.3 million in 2025. In contrast, imports from South Korea collapsed by 96.9%. The volatility of these trade links varies significantly, with China's trade showing very high volatility (CV of 3.15), while Norway's is more stable (CV of 0.71). A notable price shock was detected in imports from the United Kingdom in 2023, where unit values spiked abnormally, contributing to an overall increase in import concentration.

Export destinations: The UK's explosion and Indonesia's collapse

The United Kingdom transformed from a modest destination into the EU's primary export market for other vessels. Export values to the UK increased by 1,326.2%, from €6.8 million in 2015 to €97.1 million in 2025, making it the largest single partner by value. This aligns with a broader increase in the concentration of EU exports (HHI rose by 95.4%). Conversely, exports to Indonesia experienced a near-total collapse, falling by 99.5% from €65.1 million to just €0.3 million. Norway was a consistently important destination, with exports growing by 44.2% to €212.0 million.

Source: Compiled from data on top partners by value.

Internal EU specialization highlights niche strengths

Within the EU, trade in other vessels is highly specialized in a few member states. In 2025, Cyprus and Lithuania displayed the highest revealed comparative advantage, indicating a strong export focus on this product relative to their overall trade profile. Major economies like Germany, France, and the Netherlands were significant exporters but did not show a specialized focus. Poland emerged as a notable exporter, with its export value growing by 32.4% over the period.

Market structure, volatility, and product composition

The market for other vessels exhibits specific structural characteristics, experiences notable price shocks, and is dominated by a particular product subcategory.

Import concentration is moderate and stable; export concentration is rising

The Herfindahl-Hirschman Index (HHI) for EU imports of other vessels started at 2,530 in 2015, ended at 2,281 in 2025, and peaked at 6,857, indicating a market that is occasionally dominated by single large shipments but is otherwise moderately concentrated. The HHI for exports started lower at 1,318 but nearly doubled to 2,576, confirming the increasing dominance of fewer destination markets, notably the UK.

Trade is prone to dramatic price shocks

The data reveals significant price volatility and specific shock events. Exports to Indonesia in 2023 and imports from the United Kingdom in 2023 both registered extreme price abnormalities, with unit values shifting by over 575% and 600% respectively. These events demonstrate that this market can be influenced by single, high-value transactions or changes in product mix that drastically affect average unit prices. The volatility analysis shows that partners like China and Indonesia exhibit very high coefficient of variation in trade values.

Sea-going vessels dominate the product mix

The product segment breakdown reveals that trade within code 890690 is overwhelmingly composed of two subcategories:

• 89069010 (Sea-going vessels): This subcategory, representing large, expensive units, dominates the value of both imports and exports. For example, in 2023, imports of 89069010 were valued at €873.4 million, dwarfing other segments.
• 89069099 (Vessels >100 kg, non-seagoing): This is the main segment in terms of physical weight (tonnes) for non-seagoing trade, but its value is much lower than the sea-going category.
• 89069091 (Vessels ≤100 kg): This segment involves smaller units and has a relatively stable, lower value contribution.

The supplementary unit data (price per piece) for 89069010 imports was extremely volatile, ranging from €18,984 per item in 2023 to €2.3 million per item in 2017, underscoring the impact of individual high-value vessels on the data.

Conclusion

Over the 2015–2025 period, the EU's trade in other vessels (CN 890690) evolved from a higher-volume exchange to a market characterized by high-value, low-volume transactions. This "premiumization" is evident in the soaring unit prices for both exports and imports, despite falling physical trade volumes. The geographical landscape transformed markedly, with the United Kingdom becoming the EU's dominant export market and China rising as a major import source. This reorientation increased the concentration of trade. The market remains highly volatile, subject to extreme price shocks driven by individual large transactions, and is fundamentally dominated by the trade in expensive, sea-going vessels. Overall, the data suggests a niche, high-value segment of the maritime industry where the EU maintains a trade surplus, but one that is increasingly dependent on a narrow set of specialized partners and products.