Is a confident start to 2020 justified?
Shipping seems to be in a buoyant mood but It will be interesting to see what happens to sentiment over the coming year as implications of "going green" start to sink in
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CONFIDENCE in the shipping industry rose in late 2019 to its highest level for 18 months, according to the latest Shipping Confidence Survey from London-based shipping adviser and accountant BDO.
These quarterly surveys have for several years now provided a fascinating insight into the industry. Unfortunately I haven't made notes on how events have borne out or contradicted the sentiments expressed. This time, though, I do wonder if the industry is taking too rosy a view.
According to BDO, the average confidence level expressed by respondents to the survey was 6.4 out of 10.0, compared to 5.8 in Q3 2019. This was the highest rating since the same level of confidence was recorded in May 2018, and it is necessary to go back to February 2014 in order to see confidence at a higher level.
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