More than half the non-Asian executives surveyed expect profit to rise in the 2015 financial year but only around 40% of Asian respondents shared that sentiment.

The contrast was even more substantial over projected losses, with just 9% of non-Asian firms forecasting losses but around one-third of those within Asia.

“The Asian shipping industry is in a substantially better position than many other market participants, thanks to strong intra-Asia cargo traffic, and views the current situation as the normal state of affairs.