ZAVENTEM: The Confidence in the shipping industry fell in the past
three months to its lowest level for two and half years, according to
the latest Shipping Confidence Survey from leading shipping adviser and
accountant BDO. Yet owners, charterers and managers were more confident
than they were at the time of the previous survey in May 2019.
The average confidence level recorded by the survey in the three months
to end-August 2019 was 5.8 out of a possible maximum of 10.0. This
compares to the figure of 6.1 recorded for the quarter ended May 2019.
Confidence was highest in the chartering sector (up from 6.2 to 7.0),
while the increased ratings for owners and managers were from 6.3 to 6.4
and from 5.8 to 5.9, respectively. The rating for brokers, however, was
down from 5.7 to 5.1.
Confidence
Confidence was up in Asia from 6.0 to 6.8 – the highest figure for this
region since the survey was launched in May 2008 with an overall rating
for all respondents in all geographical areas of 6.8 out of 10.0. The
rating for Europe, however, was down, from 6.1 to 5.7.
According to the BDO survey, the likelihood of respondents making a
major investment or significant development over the coming year was up
from 5.4 to 5.5 out of 10.0. Charterers’ confidence in this regard was
up from 5.6 to 6.8, and owners’ from 6.3 to 6.5. The ratings for
managers and brokers were also up, from 4.8 to 6.1 and from 3.9 to 4.4,
respectively. Expectations were up in Asia (from 5.5 to 6.6) whilst in
Europe they were unchanged at 5.4.
The number of respondents expecting finance costs to increase over the
coming year was down from 48% to 25%. The figures for all major
categories of respondent were down, and in the case of owners and
managers to survey lows of 27% and 20%, respectively.
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