Confidence wanes as 2014 comes to a close

IT would be nice to report a "feel-good" story as we approach the end of 2014. Unfortunately, the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens is distinctly downbeat.

Overall confidence levels in the shipping industry fell during the three months to November, to their lowest level for two years. The survey found increasing concern about the high cost of new regulations while overtonnaging, as usual, was a big worry.

Moore Stephens does say that it was not all bad news, with charterers, managers and brokers all more confident than they were three months previously of making a new investment over the coming year. That looks like another way of saying: "If you want to make money out of shipping, stay out of shipowning."