A recent survey conducted by Moore Stephens indicated that shipping industry maintained the high level of confidence seen from June 2017 – August 2017. Confidence levels remained unchanged from August 2017 to November 2017, indicating industry-wide strong support levels.
Results Of The Poll
From June – August, respondents expressed a confidence level of 6.2 out of 10. That number was unchanged from September – November. A 6.2 confidence level is the highest seen in the past three and a half years. Moore Stephens has been conducting the survey for nearly a decade.
Charterers were noticeably more confident in the industry, as their confidence levels shifted from 4.7 to 7.7. This is nearly a whole point higher than the last-seen charterer high in May 2008. Managers’ confidence levels also rose, from 5.8 to 6.1.
Comments from respondents indicated that things have gotten better within the industry. One respondent noted that while it wasn’t quite time to yet celebrate a significant improvement, things were moving in that direction. The fact that confidence levels have remained unchanged for the past six months could be an indication that the industry is steadying and experiencing less volatility.
Potential Future Investments In The Industry
Richard Greiner, a partner with Shipping & Transport, gave his thoughts on the shipping industry. He stated that supply and demand levels have begun balancing out, which should result in continually improve shipping rates.
More importantly, Greiner said that improved shipping rates would increase the amount of financing available, which the industry is eager to put to good use. He also indicated that charterers were most eager for new investments.
Greiner seemed to believe that the worst days of the shipping industry were in the past and that there will be a noticeable shift over the coming years.
Trusting Your Shipments
One of the likely reasons for respondent’s confidence levels is the advancements made in packaging. Cold-chain shipping options are becoming more reliable and affordable. An example of these recent advancements can be seen in thermal cargo blankets, such as the ones offered by SureTemp.
These blankets feature a woven-polyethylene outer shell that has been heat-sealed to a poly-coated aluminum foil. These products are very durable and can last up to a decade. SureTemp’s thermal cargo blanket trap warmth and reflect the sun, so that shipments maintain a stable temperature range.
