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'More Ports', Says Moore Stephens
01 Apr 2005
Despite shipping having had a very good year in 2004, investment in ports infrastructure looks a better bet for 2005 according to London based shipping accountants and consultants Moore Stephens .
Writing in the firm's shipping newsletter 'The Bottom Line', shipping group head Chris Chasty predicts freight rates will stay strong in most sectors, with high demand and a shortage of tonnage continuing to produce good returns. However, with a weak US dollar likely to continue its fall in the early part of this year, he advises the industry to forget shipping as an investment.
He writes, 'Instead, consider spending your positive cash flow on infrastructure. Ports, tank farms, railways, roads, all the areas shipping feeds into each end.
This is where the congestion is, where the demand for investment is, and where you can still get a significant return.'
MJ Information No: 20520
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