Asian continent confidence in shipping is rising faster
Did the tide turn in March? Confidence levels in shipping showed modest signs of recovery in the three months to May 2016, according to the latest Shipping Confidence Survey from the accountant and shipping consultancy Moore Stephens.
In May 2016, the index showed that the average confidence level rose to 5.1 on a scale of 1 (low) to 10 (high).
This is a slight improvement on the 5.0 recorded in February 2016. Nevertheless, it is still the second lowest rating since the survey was created in May 2008.
Confidence on the part of owners rose significantly from 4.8 to 5.7, while charterers hardly changed their views.
Their rating inched up from 3.9 to 4.0. Confidence among managers and brokers, however, fell from 5.5 to 5.1, and from 5.1 to 4.3 respectively.
Geographically, Asia took the lead, with confidence rising from 4.4 to 5.2, in Europe from 5.1 to 5.2, and in North America from 4.7 to 5.0.