TIM eMagazine Vol.3 Issue 1
Shipping BPF
of respondent in the life of the survey, which was launched in May 2008
with an average confidence rating across all respondents in all geograph-
ical areas of 6.8. Confidence was also up in Asia, from 5.7 to 6.3, and in
North America, from 5.8 to 5.9.
The likelihood of respondents making a major investment or signifi-
cant development over the next 12 months was down from 5.4 to 5.3 out
of 10.0. Charterers’ confidence, however, was up from 4.0 to 6.2. Expec-
tations on the part of owners and brokers were up from 5.8 to 5.9 and
from 4.4 to 5.3 respectively, but down from 5.4 to 5.3 for managers. Asian
respondents (down from 5.9 to 5.0) were less confident in this regard, but
in North America the rating was up from 4.9 to 5.4. In Europe, expecta-
tions held steady at 5.2.
The likelihood of respondents making a major investment or signif-
icant development over the next 12 months was up on the previous
survey from 5.3 to 5.5 out of a maximum possible score of 10.0, its highest
level since May 2014. Of note was the increased confidence of charterers
(up from 6.2 to 6.8) and of managers (up from 5.3 to 5.6). Geographically,
increased expectations of major investment were highest in Asia (up from
5.0 to 5.8).
The number of respondents who expected finance costs to increase
over the coming year was up from 59% last time to 64%, the highest
figure since May 2008 (66%). One respondent said, “Starting next year, the
industry looks set to benefit from capacity reductions at shipyards, but
the cost of funding will rise for most market participants.”
Demand trends, meanwhile, were cited by