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Confident or overconfident?

There is cause for optimism in shipping, but temper it with caution

TWO recent reports from a major shipping accountant give some grounds for optimism in the outlook for the shipping industry.

There is certainly more good news around now. Accounting firm Moore Stephens, which did another of its quarterly surveys, reported that overall confidence levels in the shipping industry had held firm over the three-month period to August.

Despite its report noting a "theme of quietly returning confidence" in the comments of a number of survey respondents, however, one only needs to glance at the reports of newbuilding orders in the shipping press to go back to feeling some doubt. But more on this later.

Meanwhile, the accountant's August 2013 survey found that the average...

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