Confidence in the shipping industry has reached its highest level since 2008. 

A new study by Moore Stephens found in the three months to February, optimism reached 6.5 on a scale of one to ten. This is up from the 6.1 recorded in the previous report in November and the highest since the survey was launched six years ago.

Respondents across all categories reported an increase in confidence, with owners rising from 6.2 to 6.6. Managers saw their optimism levels jump to 6.4 from 6.1, while brokers climbed from 5.6 to 6.4. Charters recorded their highest rates ever, with positivity up from 5.7 in the last survey to 6.5 in this.

Richard Greiner, shipping partner at Moore Stephens, commented: "It is perhaps too soon to say that we have reached the end of the most recent downward cycle, but it seems that the worst may be over."

Meanwhile, the study showed optimism across Asia rose from 5.9 to 6.4, while Europe recorded a jump to 6.4 from 6.1. Companies in the US were also more confident, with levels rising from 6.6 to 7.1.