The Baltic Dry Index has risen by over 50% in the past six months, and net sentiment in all three main tonnage categories remains positive
LONDON: Shipping confidence held steady at its highest rating in the past three-and-a-half years in the three months to end-November 2017, shipping adviser Moore Stephens said.
The average confidence level expressed by respondents in Moore Stephens’ Shipping Confidence Survey was unchanged at the level of 6.2 out of 10.0 recorded in the previous survey in August 2017.
Confidence on the part of charterers was significantly up, from 4.7 to 7.7, the highest rating recorded for this category of respondent since the survey was launched in May 2008 with an overall rating of 6.8.
Managers — up from 5.8 to 6.1 — were also more optimistic, while brokers’ confidence was unchanged at 6.3. The rating for owners, however, fell from 6.5 to 6.4.
Confidence levels were down in Asia, from 6.4 to 5.7, and unchanged in Europe and North America, at 6.3 and 5.8 respectively.
“Charterers are leading the way in terms of improved confidence and appetite for new investment. There is optimism in the dry bulk trades, and evidence of continuing improved confidence in the gas sector.
The Baltic Dry Index, meanwhile, has risen by over 50% in the past six months, and net sentiment in all three main tonnage categories remains positive,” Richard Greiner, Partner, Shipping & Transport, said.
“A slowdown in newbuilding activity has started to redress the imbalance in supply and demand, and that should be reflected in improved freight rates. There is an appetite for investment, and finance is available. The shipping recovery might not yet be fully under way, but 2017 may come to be regarded as the year when the downward spiral was halted,” Greiner added.