2015 is expected to herald the return of a healthy shipping industry.

According to international account and shipping adviser Moore Stephens, there should be a marked improvement in prospects in the sector, providing last year's gains are replicated during 2014.

Confidence in the industry rose to a three-year high over the past 12 months and as such, it is anticipated that it can afford to be a bit more bullish this year. 

Shipping partner at Moore Stephens Richard Greiner expects good things to happen for the sector during 2014. He said: "More companies are starting to consider new investment and economic and political issues with the potential to hurt shipping are deemed less severe." 

However, the recovery is dependent on the industry's ability to deal with the potential challenges the coming year will bring. Operating costs are expected to rise and there will be increased regulation of crew welfare and fuel quality.