According to Moore Stephens’ latest Confidence Survey, shipping confidence held steady from March until the end of May 2018. The average confidence level remained the same, at the four-year high of 6.4 out of 10.0 recorded in February 2018.
Owners’ confidence also remained high at 6.6, while managers’ confidence increased from 6.4 to 6.7. The rating for charterers was up to 6.7 from 5.0 and confidence in the broking sector was up from 6.1 to 6.3.
[smlsubform prepend=”GET THE SAFETY4SEA IN YOUR INBOX!” showname=false emailtxt=”” emailholder=”Enter your email address” showsubmit=true submittxt=”Submit” jsthanks=false thankyou=”Thank you for subscribing to our mailing list”]
The possibility of respondents to make a major investment or significant development over the next 12 months reduced from 5.5 to 5.2, while confidence was highest among charterers, followed by owners, managers and brokers.
The number of respondents who expected finance costs to increase reduced by one per cent as it went to 63% from 64%.
Moreover, more respondents expect expecting higher freight rates in the tanker and container ship sectors, a number that increased 39% to 50% and from 38% to 43% respectively. In the dry bulk sector, such expectations were unchanged at 54%.
As for the Baltic Dry Index (BDI), 42% anticipate a figure of between 1500 and 1999, compared to 25% a year ago, while 36% put the figure between 1000 and 1499.
Over the past ten years, shipping confidence marks an average of 5.8 out of 10.0. The low point was the 5.0 out of 10.0 recorded in February 2016. The 2010 financial crisis in Greece may have been a prime factor in the fall in confidence to 5.3 in August 2011.
See more in the PDF below
