Blog
The Journal of Commerce reports that the ocean shipping industry’s confidence grew in the quarter ended Nov. 30 despite concerns about vessel overcapacity and the slowing global economy, particularly in relation to the euro zone crisis, according to a new survey. But the confidence level of the industry is the second-lowest since the survey was launched in May 2008, according to the latest shipping confidence by survey accountant and shipping adviser Moore Stephens. Executives say they are more likely to make major new investments in the next 12 months. For the first time since February 2009, the number of respondents overall expecting a decline in container freight rates was higher than the number anticipating rate increases.
For the shipping industry as a whole, the average level of confidence in November 2011 was 5.4 on a scale of 1 to 10, up from the 5.3 level recorded in August 2011. Confidence among ship-owners was up from 5.1 to 5.3, but down on the part of charterers, from 5.0 to 4.9. There was a small increase in confidence in the broking sector, from 5.1 to 5.2. Confidence was highest among managers, unchanged at 5.6. Europe, up from 5.0 to 5.1, was the least confident region. In May 2008, European confidence stood at a high of 6.6, and as recently as August 2010 was running at 6.1. Confidence in Asia rose from 5.7 to 5.8 and in North America from 5.1 to 5.8.
About the author
admin