Shipping up or down?

Baltic index inching high, company making profit but shipping confidence is low.

When we receive contradictory reports, it becomes difficult to infer what is right and whether these news are giving a direction of shipping industry. In March 2016, we have received below 4 news, all stand alone are correct however when we combine these reports it looks something wrong, companies have reported profit or turn around, Baltic index is inching high, never the less shipping confidence is low.

  1. Seaspan net profit up 52.9pc to US$199.3 million (2015 YoY)
  2. Baltic sea freight index up on firmer Panamax rates (March 2016)
  3. Hapag-Lloyd back in black with 30pc more sales and US$127 million profit (2015 YoY)
  4. New low in shipping confidence;
    Charterers (down from 5.5 to 3.9), which is the lowest confidence rating by any category of respondent in the history of the survey. Confidence on the part of owners and managers was also down, from 5.7 to 4.8 and from 5.8 to 5.5 respectively. Geographically, confidence was down in all major areas covered by the survey – in Asia from 6.0 to 4.4, in Europe from 5.4 to 5.1, and in North America from 5.7 to 4.7.
    source – shipping confidence data – Moore Stephens
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