The MaritimeExecutive.com reports that the confidence level hits a record low.
On Wednesday, shipping advisers Moore Stephens reported that overall confidence levels in the industry fell to a record low in the three months ending February 2016, according to the results of the firm's Shipping Confidence Survey.
Overall, respondents reported a confidence level of 5.0 out of 10 for the markets in which they operate, compared with a 5.6 out of 10 in November. It is the lowest rating ever in the survey's eight years of data collection.
Industry's view of conditions was down in all geographic regions, marking a 1.6 point drop in Asia, a 1.0-point drop in North America and a small decrease in Europe.
Among business areas, only brokers reported an increase in confidence (of 0.5 points). All others – especially charterers – were less sanguine in their assessment of the market. Charters' confidence fell by 1.6 points, owners’ by 0.9 points and managers’ by 0.3 points.
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