Confidence remains in short supply across the shipping sector as the dangerous overhang of newbuilding deliveries continues to threaten signs of recovery, according to the latest industry survey by accountant Moore Stephens.

In the container shipping sector, 26% of respondents polled in November's Shipping Confidence Survey expected rates to rise over the coming year, down from 35% three months earlier.

Average confidence across all sectors - on a scale of one to 10 - was 5.7, the same as in August 2009, but charterer confidence dropped from 5.8 to 5.6 in the period.

"There are too many ships already in operation, and even more to come, so there will be very little scope to increase freight rates," said one respondent.

Another respondent said the key to the massive orderbook crisis was for "the banks not to finance any more projects and for shipyards to agree to delays in delivery dates".