U.K. Shipping Sector More Confident, Survey Finds

Moore Stephens
Monday, April 08, 2013

The survey indicates freight-rate improvements and greater likelihood of new investment in the next 12 months.

Overall confidence levels in the international shipping industry recovered to their highest level for two years in the three months ending February 2013, while U.K.-based manufacturers expect output to accelerate sharply in the next three months.

The latest Shipping Confidence Survey from Moore Stephens says there was improved expectation of freight rate increases over the next 12 months, particularly in the dry bulk sector, and greater likelihood of new investment in the industry.

In February 2013, the average confidence level expressed by respondents in the markets in which they operate was 5.8 on a scale of 1 (low) to 10 (high), compared to the figure of 5.6 recorded in the previous survey in November 2012. The survey was launched in May 2008 with a confidence rating of 6.8.

A number of respondents felt that there were positive signs that a recovery was on the way. One said, “Scrapping continues apace, and new orders have all but dried up. These are two of the main drivers for recovery, the third being demand, which will improve, with the result that we should see a measurable upturn by year-end.” Another noted, “Demand trends for seaborne trade are generally positive and tonnage reaching obsolescence due to age and regulation will exit the market. Finance is competitive where available and, where it isn’t, owners and their ships will leave the market. Patience and strong cashflow management are essential.”

Source: Moore Stephens

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

First Subsea Achieves API 17L1 Certification for Bend Stiffener Connectors

Connector technology developer First Subsea has received APL 17LI certification for its bend stiffener connectors from the American Petroleum Institute, the company announced today.

Gulf of Mexico Sees First LNG-powered OSV

A special Offshore Supply Vessel (OSV) has been delivered to Shell for its deepwater operations in the Gulf of Mexico.   The vessel, Harvey Energy, is chartered

Bestobell Bags Hat Trick Order in China

Bestobell Marine, part of the President Engineering Group, has received its third order in the past 12 months from Hudong Zhonghua shipyard in China. The deal

Finance

EC Okays Maritime Fisheries fund

European Commission has approved Malta’s Operational Program European Maritime Fisheries Fund (EMFF) for the 2014-2020 financial periods, announced Parliamentary

Irish Ferries Owner Revenues up 9.6%

Irish Continental Group, the company behind Irish Ferries, posted a 9.6pc increase in revenue last year (2014) in taking Euro 290.1 million.   ICG's ferry division

Are Megaships Game Changers?

Bragging rights for the world’s largest container ship have changed hands four times in as many months and keep on shifting again, says a report in the Bloomberg.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1548 sec (6 req/sec)