Confidence rising

Confidence in the shipping industry has risen in the last three months despite geopolitical uncertainty, according to the latest Shipping Confidence Survey from BDO. The average confidence level rose to 6.2 out of a maximum 10 this quarter compared to 6.0 in Q4 2018. Confidence was up in Europe, from 6.1 to 6.3, and in North America, from 5.2 to 5.6. In Asia, meanwhile, there was a drop in overall confidence levels to 5.8 from the 12-month high of 6.3 recorded in the previous quarter. Brokers were behind much of the increase in confidence. Their score was up from 5.2 to 5.9. The rating for owners and managers was down from 6.4 to 6.3 and from 6.0 to 5.8 respectively. Charterers’ confidence was also down, from 6.8 to 6.0.