Results of Shipping Confidence Survey
Overall confidence levels in the shipping industry have declined by more than twenty per cent over the past twelve months, according to the latest Shipping Confidence Survey produced by international accountant and shipping consultant Moore Stephens. One year on from the first Moore Stephens survey, the average confidence level expressed by respondents, on a scale of 1 to 10, was 5.4, compared to 6.8 in the initial survey in February 2008. In the last four months, the average confidence level declined from 5.6 to 5.4, and was most significantly down amongst owners and managers, with the level falling to 5.4 in each category from previous levels of 5.8 and 6.0 respectively. One year ago, owners and managers recorded confidence levels of 7.1 and 7.2 respectively.
Shipping Confidence Down
The latest Shipping Confidence Survey by Moore Stephens has revealed a significant drop in overall confidence levels in the market, and an increased expectation that rates in the tanker, dry bulk and container ship sectors will fall in the next twelve months. On a scale of 1 to 10, the average confidence level reported by respondents was 5.6, compared to 6.8 in the previous survey in June 2008. Confidence levels fell across all sectors and regions and the greater divergence between respondents suggests greater uncertainty across market participants. Ship managers and owners were the most confident at 6.0 and 5.8 respectively, although these were markedly down on the corresponding figures in June.
