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Thursday, April 25, 2019

Moore Stephens News

Michael Simms (Photo: BDO)

BDO / Moore Stephens Merger

The merger between accountants and advisers BDO LLP and Moore Stephens LLP in London was completed earlier this month.Clients of the merged firm, BDO, will have access to offices in over 160 countries with a presence in every major shipping location in the world.Michael Simms, Partner and Head, Shipping & Transport at BDO, said: “The merger enables us to deliver the ever-increasing range and depth of solutions demanded by our clients, who can expect the same high-quality, industry-leading service to which they have become accustomed.”

Richard Greiner (Photo: Moore Stephens)

Moore Stephens: Leaner, Greener Shipping Will Attract Investment in 2019

Accountant and shipping adviser Moore Stephens says shipping will continue to attract investors in 2019 if it fulfills its ESG (environmental, social and governance) responsibilities.In the latest issue of Bottom Line, the Moore Stephens shipping sector newsletter, Richard Greiner, a partner in the firm’s Shipping & Transport team, says, “It has been suggested that the future is very much like the present, only longer. Should that prove to be the case for the shipping industry…

Image: Moore Stephens UK

Moore Stephens: Shipping Confidence Dips

Shipping confidence dipped slightly in the three months to end-November 2018, according to the latest Confidence Survey from international accountant and shipping adviser Moore Stephens.The average confidence level expressed by respondents fell to 6.0 out of a maximum  score of 10.0, compared to the 6.3 recorded in August 2018.Confidence on the part of all main categories of respondent was down, with the exception of brokers, where the rating increased from 4.9 to 5.2. Owners’ confidence fell to 6.4 from 6.8…

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UK Tax Regime Continues to Provide Stability for Shipping

International accountant and shipping consultant Moore Stephens has outlined a number of unexpected changes introduced by the UK Budget 2018 which could have implications for the shipping and offshore maritime industries. But it stresses that these are relatively minor alterations which will have a limited impact on what continues to be a stable tax regime for the maritime sector.The Annual Investment Allowance (AIA) will increase from £200,000 ($254,000) to £1 million ($1.27 million) per annum for all qualifying investments in plant and machinery made between January 1…

Richard Greiner, Moore Stephens partner, Shipping and Transport

Moore Stephens: Ship Operating Costs to Rise in 2018, 2019

International accountant and shipping consultant Moore Stephens says total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.Responses to the firm’s latest annual Future Operating Costs Survey revealed that drydocking is the cost category likely to increase most significantly in both 2018 and 2019, accompanied in the latter case by repairs and maintenance. The cost of drydocking is expected to increase by 2.1% in 2018 and by 2.3% in 2019…

Richard Greiner, Moore Stephens partner, Shipping and Transport

Moore Stephens: Ship Operating Costs Decline Again

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by 1.3% in 2017. This compares with the 1.1% average fall in costs recorded for 2016. For the third successive year, all categories of expenditure in 2017 were down on those for the previous 12-month period, most notably for insurance costs and stores.The findings are set out in OpCost 2018 (www.opcostonline.com), Moore Stephens’ unique ship operating costs benchmarking tool…

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Shipping Confidence Slips on Geopolitical Fears

Shipping confidence dipped very slightly in the three months to end-August 2018, according to the latest Confidence Survey from international accountant and shipping adviser Moore Stephens. Moore Stephens' Richard Greiner weighs in:The average confidence level expressed by respondents was down to 6.3 out of a maximum possible score of 10.0, this compared to the four-year-high of 6.4 recorded in May 2018. Confidence on the part of owners, however, was up from 6.6 to 6.8, equalling the highest level achieved by this category of respondent when the survey was launched in May 2008…

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Shipping’s Half Year Report: Extra Classes Needed?

With the industry hoping for better “grades” after the “effort” of recent years, this week’s Analysis updates our half year shipping report showing a ClarkSea Index up 9% y-o-y but still below trend since the financial crisis (see Graph of the Week). After comments of “must do better” and “showing potential” in recent years, do the statistics suggest “extra classes” will again be needed over the summer holidays?Progress But No Time To Relax!Our ClarkSea Index (comprising tankers…

Image: Moore Stephens

Shipping Industry Confidence Holds Firm: Moore Stephens

Shipping confidence held steady in the three months to end-May 2018 according to the latest Confidence Survey from international accountant and shipping adviser Moore Stephens. The average confidence level expressed by respondents was unchanged at the four-year high of 6.4 out of 10.0 recorded in February 2018. Confidence on the part of owners was also sustained at a four-year high, of 6.6, while managers’ confidence was up from 6.4 to 6.7. The rating for charterers was up to 6.7 from 5.0 and confidence in the broking sector was up from 6.1 to 6.3.

file Image: Richard Greiner,Moore Stephens partner, Shipping & Transport

Ten Years After, Shipping Industry Confidence Holds Firm

Shipping confidence held steady in the three months to end-May 2018 according to the latest Confidence Survey from international accountant and shipping adviser Moore Stephens. The average confidence level expressed by respondents was unchanged at the four-year high of 6.4 out of 10.0 recorded in February 2018. Confidence on the part of owners was also sustained at a four-year high, of 6.6, while managers’ confidence was up from 6.4 to 6.7. The rating for charterers was up to 6.7 from 5.0 and confidence in the broking sector was up from 6.1 to 6.3.

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Bulk Shipping: Economics 101

Supply and Demand in the bulk transport sectors will define the course line ahead. Less ships and more cargo will be the key.The drybulk sector – where iron ore, coal, grain and other raw materials dominate – is still wrestling with a decade-long hangover that began with the financial collapse of 2008. A recovery ensued in 2010 and 2011, but, following the time honored trade pattern, the brighter outlook brought about an avalanche of new build orders and another drop in rates ensued.

Greiner Richard (NS) Photo Moore Stephens LLP

Shipping Industry Confidence at Four-Year High

Shipping confidence reached a four-year high in the three months to end-February 2018, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. The average confidence level expressed by respondents was up from 6.2 out of 10.0 in November 2017 to 6.4 this time. Confidence on the part of owners was also at a four-year high, up from 6.4 to 6.6, while managers’ confidence was up too, from 6.1 to 6.4. The rating for charterers…

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Shipping Confidence Rises to 3.5 Year High -Survey

Shipping confidence held steady at its highest rating in the past three-and-a-half years in the three months to end-November 2017, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. The average confidence level expressed by respondents was unchanged at the level of 6.2 out of 10 recorded in the previous survey in August 2017. Confidence on the part of charterers was significantly up, from 4.7 to 7.7, the highest…

Image: Moore Stephens UK

Ship Operating Costs to Increase for 2017 and 2018

Vessel operating costs are expected to rise in both 2017 and 2018, according to Moore Stephens' survey. Repairs & maintenance and spares are the cost categories which are likely to increase most significantly in each of the two years. The survey is based on responses from key players in the international shipping industry, predominantly shipowners and managers in Europe and Asia. Those responses revealed that vessel operating costs are likely to rise by 2.1% in 2017 and by 2.4% in 2018.

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Vessel Operating Costs on the Rise -Moore Stephens

Vessel operating costs are expected to rise in both 2017 and 2018, according to the latest survey by international account and shipping consultant Moore Stephens. Repairs and maintenance and spares are the cost categories which are likely to increase most significantly in each of the two years. The survey is based on responses from key players in the international shipping industry, predominantly shipowners and managers in Europe and Asia. Those responses revealed that vessel operating costs are likely to rise by 2.1 percent in 2017 and by 2.4 percent in 2018.

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Shipping Operating Costs Declining -Report

Total annual operating costs in the shipping industry fell by an average of 1.1 percent in 2016, says international accountant and shipping consultant Moore Stephens. This compares with the 2.4 percent average fall in costs recorded for 2015. For the second successive year, all categories of expenditure were down on those for the previous 12-month period, most notably for insurance costs and stores. The findings are set out inMoore Stephens’ ship operating costs benchmarking tool OpCost 2017…

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Shipping Confidence Continues to Climb -Report

A recent survey found that shipping confidence reached its highest rating in the past three years in the three months to end-August 2017. According to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens, the average confidence level expressed by respondents to the survey was up slightly from the 6.1 out of 10 recorded in the previous survey in May 2017 to a three-year high of 6.2. The improved rating was attributable mainly to increased confidence on the part of owners, up from 6.1 to 6.5.

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Shipping Beware Changing Risk Landscape -Moore Stephens

Effective management of risk within the industry has improved slightly over the past 12 months, according to the third annual Shipping Risk Survey from international accountant and shipping adviser Moore Stephens. But shipping still needs to up its game in terms of managing its exposure to risk, which is increasing and changing in nature, not least in terms of the threat posed by cyber security, Moore Stephens says. Survey respondents rated the extent to which enterprise and business…

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Shipping Confidence Climbs to Three-year High

Shipping confidence reached its equal highest rating in the past three years, according to the latest Shipping Confidence Survey for the three months to end-May 2017 from international accountant and shipping adviser Moore Stephens. The average confidence level expressed by respondents to the survey was up to 6.1 out of 10 from the 5.6 recorded in the previous survey in February 2017. Increased confidence was recorded by all main categories of respondent to the survey, which launched in May 2008 with an overall confidence rating of 6.8.

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VLCC Rates to Remain Weak on Output, Tonnage Woes

Freight rates for very large crude carriers (VLCCs), which fell to a near six-month low on Thursday, will remain weak until the Asian refinery maintenance season gets completed, starting April-end. "I haven't seen a collapse in rates like this for some time. People are taking insane rates," said Ashok Sharma, managing director of ship broker BRS Baxi in Singapore. Output cuts by oil producers, refinery maintenance in Asia and the reactivation of older vessels previously used as…

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Shipping Confidence Steady despite Industry, Political Pressures

Shipping confidence held steady in the three months to end-February 2017, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. In February 2017, the average confidence level expressed by respondents was 5.6 out of 10, unchanged from the previous survey in November 2016 and equal to the highest rating since August 2015. Owners were the only main category to show an improved level of confidence, up from 5.4 to 5.6.

Shipping Industry Confidence Improves – with Caveats

Operating cost movements are central to shipping’s fortunes. Shipping has certainly lived up to its reputation for volatility during the past twelve months. The quarterly Moore Stephens Shipping Confidence Survey showed industry confidence improving for the second successive quarter in the three months to end-August 2016, but this was from its lowest level for eight years. The industry has been beset by a range of all-too-familiar problems, including depressed freight rates, tonnage overcapacity in many sectors, problematic geopolitical developments and mounting regulation.

Graphics: Moore Stephens

Shipping Confidence Improved: Moore Stephens

Shipping confidence improved for the third successive quarter in the three months to end-November 2016, says a report by Moore Stephens, an accounting and advisory network in UK. In November 2016, the average confidence level expressed by respondents was 5.6 out of 10.0, equalling the highest rating since August 2015. All main categories of respondent were more confident than in August 2016, when the overall rating was 5.4. Charterers’ confidence this time increased by 2.0 points, to 6.8, the highest figure in the life of the survey for such respondents.

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Shippers’ Confidence at 15-month High -Survey

Shipping confidence improved for the third successive quarter in the three months to end-November 2016, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. In November 2016, the average confidence level expressed by respondents was 5.6 out of 10, equaling the highest rating since August 2015. All main categories of respondent were more confident than in August 2016, when the overall rating was 5.4. Charterers’ confidence this time increased by 2 points, to 6.8, the highest figure in the life of the survey for such respondents.

(File photo: Thomas Poster)

Ship Operating Costs Set to Rise -Survey

Vessel operating costs are expected to rise in both 2016 and 2017, according to the latest survey by international accountant and shipping consultant Moore Stephens. Repairs and maintenance and spares are the cost categories which are likely to increase most significantly in each of the two years. The survey is based on responses from key players in the international shipping industry, predominantly shipowners and managers in Europe and Asia. Those responses revealed that vessel operating costs are expected to rise by 1.9 percent in 2016 and by 2.5 percent in 2017.

Richard Greiner (Photo: Moore Stephens)

Moore Stephens: 4th Straight Year of Operating Costs Decline

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average of 2.4% in 2015. This compares with the 0.8% average fall in costs recorded for 2014, and is the fourth successive overall year-on-year reduction in such costs. All categories of expenditure were down on those for the previous 12-month period. This suggests continued pragmatic management of costs by ship owners and operators, as well as a reduction in active trading for some owners as a result of the prolonged worldwide economic downturn.