The shipping industry straddles hope and despair, with a little more hope creeping in, according to the latest confidence survey from Moore Stephens. But shipowners appear wary of making any major investment currently.
Based on its 1 to 10 scale, Moore Stephens confidence index sat at 5.4 as of the end of August, which is still a better reading than the 5.1 measure recorded last May. Moore Stephens says its also the highest rating over the last nine months.
Owners actually measured slightly less confidence than in the previous survey. But charterers, ship managers and brokers all saw gains in terms of industry confidence. The survey was launched in May 2008 with a reading at 6.8.
The survey showed respondents remained unchanged with regard to making new investments, with a rating of 4.9 on a scale of 1 to 10.
Moore Stephens says the top concerns among shipowners remains the level of scrapping and new ordering. The recent ratification of ballast water management rules could help overcapacity, “but it will also cause a bloodbath among owners,” according to one respondent.
Richard Greiner, a partner in the shipping and transportation practice at Moore Stephens, said of the results: “it is encouraging to see an increase in shipping confidence for the second successive quarter. Confidence is now at its highest level for nine months, which says much for the resilience of the shipping industry.”
