Shipping Confidence "2-year high"

qinxingchen

It has been revealed that an overall reliability level towards shipping market recovered to the highest level in two years. According to a recent “Shipping Confidence Survey” conducted by Moore Stephens, an average confidence on shipping market was recorded as 5.8p in February 2013, showing a 5.6p increase compared to three months ago, last November. The confidence index covers a scope from one to ten and 6.8p was reported at the first survey conducted in May 2008. Particularly, on the recent survey, an expectation remarkably increased about earnings from dry bulkers to increase over the next 12 months and a possibility on investment expansion was also seen to have risen. As for reliability on vessel management firms, it was reported to be 6.2p, showing the highest level since August 2010, which represents a 6p rise against the last survey, while reliability on charterers was seen to have grown from 5.6p to 6p, also showing the highest level since November 2010. In terms of shipowners, they also had the highest confidence index risen from 5.5p to 5.7p while brokers had 5.6p risen from 5.3p, reporting the highest mark since February 2012. By region, Asia and North America showed decreases from 6p to 5.6p and from 6.6p to 6.1p, respectively, while Europe saw an increase from 5.3p to 5.8p, having the highest level since August 2010. Especially, most respondents declared that a positive sign is seen regarding a market recovery and one of them said, “Two factors of market recovery can be said as that a large demolition of old fleet continued and new orders have been halted. I expect demands to grow gradually resulting in the recovery at the end of this year.” However, some in industry prospect that profits are hard to expect following last year’s poor performance. Thus, efforts put in “survival” than “advance” will be more conducted. One respondent with a much worse prospect said, “The recovery in shipping industry will be hard to see this year. Several crazy shipowners are still ordering newbuildings to be delivered within two years.” “A balance between supply and demand is seen far away,” he pointed out. Meanwhile, to a question, whether to have a major plan to invest for the next 12 months, the confidence index rose to 5.5p from 5.4p of the last survey with one respondent saying, “The shipowners who have a capacity to order newly designed vessels for a competitive price with a delivery slated within 2015 will take the advantageous position first at the time of market recovery.” “Vessels with old fashioned design will quickly get left behind the time.” Published : March 28, 2013

极寒天空

hope it is true