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North German shipping companies optimistic about future

IHK-Nord's survey of maritime industry reveals optimism - business climate varies in ship building and port industries

The business climate among north German shipping companies has risen from 84.9 to 113.9 points in the IHK-Nord’s spring survey, a press release said Friday. The positive views of 2016 have led to more optimism about the future. “The sector has been in a crisis for eight years because of excess shipping space capacities. Yet, the palpable recovery in charter and freight rates has had a positive effect on the mood despite the negative impact of the shipping crisis. However, it remains to be seen whether it’s just a brief recovery or a real turnaround,“ said Dr. Wolfgang Blank, CEO of IHK Nord.

Acceleration act for traffic infrastructure

The mood varied sharply among shipyards and depended on orders by major companies, the survey found. Although the economic barometer in spring 2017 was 14 points lower at 104.7 points than in last autumn, the value was 20 points higher than in spring 2016. “German shipbuilding continues to be robust. But it cannot disconnect itself entirely from the negative trend on the global market,“ Blank noted. Port industries also lacked optimism about the future with the business index dropping to 91.7 points. Stiff competition with the ports of Rotterdam and Antwerp is having a negative impact on cargo handling results. Blank called for shorter planning procedures and an “acceleration act for traffic infrastructure” to improve the business situation.
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Sources and further information:
www.ihk-nord.de

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