Latest news from Heavy Lift & Project Forwarding International Magazine

Heavy Lift Across the World

'Small rise' in shipping confidence

June 21 - According to the latest Shipping Confidence Survey from Moore Stephens, overall confidence levels in the shipping industry rose slightly in the three months to May 2016.

In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high).

This is a slight improvement on the 5.0 recorded in February 2016, but is still the second lowest rating in the life of the survey, which was launched in May 2008 with a confidence rating of 6.8.

Confidence on the part of owners was markedly up this time, from 4.8 to 5.7, while charterers were also slightly more optimistic than in February, their rating inching up from 3.9 to 4.0. Confidence among managers and brokers, however, was down, from 5.5 to 5.1 and from 5.1 to 4.3 respectively.

Geographically, confidence was up in Asia, from 4.4 to 5.2, in Europe from 5.1 to 5.2, and in North America from 4.7 to 5.0.

Economic and geopolitical uncertainty was uppermost in the thoughts of many respondents, reported Moore Stephens.

"Overall world economic growth is still not moving concertedly in a positive direction, so that we have what might best be described as a patchy global economic recovery," said one respondent.

Another suggested: "Unless there is a drastic change in geopolitical events, shipping markets will remain in their present condition for another 12 months."

The availability of shipping finance also featured heavily in respondents' comments, with one suggesting that "finance is way too cheap and has caused a massive over-supply of tonnage"; and another implying that financiers have lost confidence in owners.

A surfeit of tonnage and lack of scrapping were also mentioned as market challenges, but some respondents noted that there are opportunities out there for "smart operators".

Moore Stephens partner Richard Greiner concluded: "If there is one thing certain in the current shipping market, it is the level of uncertainty which is pervading all sectors at the moment."

He added: "Many of our respondents continue to express serious misgivings about the extent of overtonnaging, and about the inadequacy of current levels of demolition activity."

Greiner noted that the mood of the survey's respondents was not universally downbeat, however. "A number continued to emphasise the fact that other methods of transportation are invariably not a viable alternative to shipping, while others stressed that innovative operators will always find a way to succeed, including accessing the finance needed to do so."

www.moorestephens.co.uk

Heavy Lift | News

Bravo for Pioneering Spirit thumbnail image

Bravo for Pioneering Spirit

June 19 - Allseas’ installation and decommissioning vessel Pioneering Spirit has removed the 25,000-tonne Brent Bravo topsides from the North Sea.
Views: 198
Brett joins port of Tyne thumbnail image

Brett joins port of Tyne

June 18 - Simon Brett has joined the UK’s port of Tyne as commercial director of port services.
Views: 395
Apollo completes refit at DSDu thumbnail image

Apollo completes refit at DSDu

June 18 - DEME Offshore’s latest heavy lift jack-up vessel Apollo has completed a one-month conversion project at Damen Shiprepair Dunkerque (DSDu).
Views: 303
Cargolux adds Santiago call thumbnail image

Cargolux adds Santiago call

June 18 - B747 operator Cargolux Airlines has re-introduced Santiago de Chile as a call on its South American service.
Views: 337

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.