The results show that confidence levels in the shipping industry have risen to their highest level for six years in the three-month period to February.

 

"There are signs that we have passed the deepest point of the recession.

 

The only question now is how long it will take for the markets to improve to the point where we have sustainable rates again," one respondent said.

 

In February, the average confidence level expressed by participants in the markets in which they operate was 6.5 on a scale of one (low) to 10 (high), compared with the 6.1 recorded in the previous survey in November 2013.

 

This is the highest figure since the 6.8 recorded when the survey was launched in May 2008.

 

Confidence on the part of owners was up from 6.2 to 6.6 and the rating for charterers, up from 5.7 to 6.5, was the highest yet recorded.

 

The rating for managers was up from 6.1 to 6.4 and that for brokers was up to 6.4 from the previous level of 5.6.