![port-of-baltimore-iStock-1299521189.jpg Cranes and shipping containers along the water at the Port of Baltimore.](https://www.supplychainbrain.com/ext/resources/2024/04/08/iStock-1299521189.jpg?height=100&t=1723060077&width=150)
Visit Our Sponsors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Respondents reported a confidence level of 5.0 out of 10 for the markets in which they operate, compared with a 5.6 out of 10 in November. It is the lowest rating ever in the survey's eight years of data collection.
Industry's view of conditions was down in all geographic regions, marking a 1.6-point drop in Asia, a 1.0-point drop in North America and a small decrease in Europe.
Among business areas, only brokers reported an increase in confidence (of 0.5 points). All others – especially charterers – were less sanguine in their assessment of the market. Charters' confidence fell by 1.6 points, owners’ by 0.9 points and managers’ by 0.3 points.
Expectations of making a major investment within the coming year fell to 4.8 points, equal to the lowest point recorded, during the heart of the Great Recession in 2009. One participant suggested that further investment is unlikely; already “we are paying for excessive investments over the past five years by speculative funds [representing] the quickest/largest destruction of capital in the shipping world.”
RELATED CONTENT
RELATED VIDEOS
Timely, incisive articles delivered directly to your inbox.