Author: Richard Greiner
Overall confidence levels in the shipping industry fell to a record low in the three months to February 2016, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. The average confidence level expressed by respondents in the markets in which they operate was 5.0 on a scale of 1 (low) to 10 (high). This compares to the 5.6 recorded in November 2015, and is the lowest rating in the life of the survey, which was launched in May 2008 with a confidence rating of 6.8.
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Comment by: James Walsh
The simple answer to overcapacity is to reduce the numbers. How is idling or disposing of ships unlike other industries - taking a plant off line, offshoring... Risking Opportunism particularly when there are record numbers of units waiting to fill the vacant slot - most trucking firms would recognize that risk. Increased ship recycling is another answer, although current low scrap prices may delay the decision on when to recycle. Regulation may help. Nations and ports giving preference to well run, responsible sustainable operators via lower fee structures. Set the bar, lower the risk and we may all benefit.
