Overall confidence levels in the shipping industry rose to their highest level in almost six years in the three months to February 2014.
According to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens, freight rates are likely to improve or be maintained at existing levels over the next 12 months, while an increase in private equity funding is expected to have a major impact on the industry, reported Business Times Singapore.
The firm said that the average confidence level expressed by respondents in the markets in which they operate was 6.5 on a scale of 1 (low) to 10 (high), compared to the 6.1 recorded in the previous survey in November 2013. This was the highest figure since the 6.8 registered when the survey was launched in May 2008.
Moore Stephens said that the rise in confidence was reflected by all categories of respondents to the survey. Confidence on the part of owners edged up to 6.6 from 6.2, while the rating for charterers (up from 5.7 to 6.5) was the highest in the life of the survey.
The rating for managers was up from 6.1 to 6.4, while that for brokers rose to 6.4 from 5.6.
Geographically, confidence was up in Asia (from 5.9 to 6.4), in Europe (from 6.1 to 6.4), and in North America (from 6.6 to 7.1).
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