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Shipping firms are feeling more optimistic

09 April 2013/Categories: Industry News

Shipping organisations are feeling far more optimistic about their future prospects, a study by Moore Stephens has shown.

The accounting and consulting company revealed that overall confidence levels in the three months to the end of February 2013 rose to their highest for two years.

Many businesses are expecting to see new investment in the industry and freight rates are also predicted to rise in the next 12 months, particularly in the dry bulk sector.

According to the latest Shipping Confidence Survey, confidence levels were scored at 5.8 out of ten, which was up from 5.6 in November 2012. The barometer was first launched in May 2008, with a reading of 6.8.

With the Port of Felixstowe undergoing an expansion and the impressive London Gateway nearing completion, it is easy to see why many people expect the UK's ports to flourish in the coming years.

Shipping partner at Moore Stephens Richard Greiner said the small increase in confidence is "very good news".

"It is still early days, but the tone of the comments from respondents this time indicates something of a sea change," he remarked.


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