Shipping sector has reasons for cheer
However, with the Hanjin collapse and the ongoing Rickmers insolvency, this optimism has to be tempered with caution
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LAST week's column looked at the opinion of a major marine insurer, who said that shipping faces a "perfect storm" of regulation, cost-savings and cyber-security risks.
The view may be valid, but it appears the decision-makers in the industry are taking a more upbeat view, as shipping confidence strengthens. The latest Shipping Confidence Survey by international accountant and shipping adviser Moore Stephens has found shipping confidence at its highest in the three months to end-May - as high as the highest it has been in the last three years.
The average confidence level expressed by respondents to the survey measured 6.1 out of 10.0, up from the 5.6 recorded in the preceding survey done in February 2017.
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