Shipping confidence rising
U.K.-based shipping adviser, Moore Stephens, released a survey that indicates a positive outlook in the global shipping industry. According to the survey, overall confidence levels in the shipping industry increased between March-May, and are currently at their highest level since February of last year.
Moore Stephens shipping partner, Richard Greiner, said, “It is true that the increased level of confidence recorded in the survey owes something to the conviction on the part of some respondents that the bottom of the market has now been reached. But a number of respondents nevertheless saw the beginnings of a recovery in the markets for more positive reasons, not least the continuing, indispensable role that shipping has to play in the conduct of global trade. Shipping is not an industry that will come and go. Nothing is going to replace shipping, at least not in the lifetimes of those involved in the industry today, or even of their great-great-grandchildren. So long term players are looking to navigate a way through the difficulties currently besetting the industry, to emerge in calmer – and more profitable – waters.”