A real divide in sentiment is emerging between the shipping industry and the aviation and rail industries, according to the sixth The Way Ahead transport survey from global legal practice Norton Rose Fulbright.
Confidence among respondents from the shipping industry has deteriorated sharply over the past year.
Just one third of shipping respondents believe current market conditions are positive for their industry, down from 69% in 2014. Overcapacity is cited as the key reason for this, by 64% of those respondents who rate current market conditions as negative.
In contrast, 88% of aviation respondents and 91% of rail respondents report that current market conditions are positive for their industries, up from 75% and 81% last year.
Increased optimism is attributed to more readily available funding for investment and growth, an anticipated return to economic stability in key markets, and the emergence of new opportunities. A reduction in the price of oil and an associated fall in fuel costs are also assisting aviation.
Source: Norton Rose Fulbright