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.”
Shipping Must Disclose or Risk Being Exposed - Moore Stephens
International accountant and shipping adviser Moore Stephens says the shipping industry must adopt a transparent, proactive approach to corporate governance or else risk exposure to business and reputational damage. Corporate governance in shipping has been in sharp focus recently, particularly following publication of the research by Wells Fargo Securities into Shipping’s Corporate Governance War. Robert Noye-Allen, a partner in the Moore Stephens Governance Risk & Assurance team…
UK Shipping & Transport OMBs Confident of an Up-Swing
A survey by leading accountant Moore Stephens has revealed that over three-quarters of owner-managed businesses (OMBs) in the UK operating in the shipping and transport sector are confident about their prospects for 2016. The survey revealed that, despite facing a number of major challenges and risks, shipping and transport (S&T) OMBs were particularly focused this year on training staff, expanding their UK customer base, investing in new technology and pursuing cost-reduction initiatives.
SSA Names Manpower Issues a Top Priority
Playing an active role and making meaningful contributions to the workings and development of the Tripartite Maritime Manpower Taskforce initiatives for both seafaring and shore-based jobs will be one of the major priorities for the new Singapore Shipping Association (SSA) Council, its recently elected President has announced. Addressing a press briefing in Singapore yesterday, Esben Poulsson said the initiative, spearheaded by the Maritime and Port Authority of Singapore (MPA)…
Moore Stephens: HMRC May Rethink Tonnage Tax Changes
Moore Stephens, understands that Her Majesty’s Revenue & Customs (HMRC) has agreed to re-examine, in consultation with the shipping industry, its earlier intention to unilaterally reinterpret the UK Tonnage Tax rules to the potential detriment of many shipowners. Widely disputed changes based on unspecified ‘legal advice’ were set out in HMRC’s tonnage tax manual in September 2009. These focused in particular on a reinterpretation of the strategic and commercial management tests that are fundamental to qualification for the tonnage tax regime.
Moore Stephens Calls on HMRC to Consult
Leading accountant and shipping adviser, Moore Stephens says companies operating within UK tonnage tax could consider leaving the UK, as a result of HMRC’s decision to unilaterally reinterpret the regime rules. Sue Bill, a tax partner with Moore Stephens, says, “Given the substantial increase in the UK fleet since 2000, it is widely considered that UK tonnage tax has been a success. HMRC’s decision to reinterpret the legislation results from comments in the 2004 EU guidelines on state aid to maritime transport.
Over-Tonnaging Fears See Confidence Dip Again In Shipping Industry
Overall confidence levels in the shipping industry dropped for the third successive quarter in the three months ending February 2011, to reach their lowest level for fifteen months, according to the latest survey by leading accountant and shipping adviser Moore Stephens. Over-tonnaging and the uncertainty created by political unrest in the Middle East and North Africa were the dominant themes running throughout the responses to the survey, which also revealed an increase across all categories in the number of respondents who expected finance costs to rise over the coming year.
FMC, Petrobras $80M Subsea Service Contract
FMC Technologies, Inc. (NYSE: FTI) announced that it has signed a subsea service contract with Petrobras (NYSE:PBR) (NYSE:PBRA) . The agreement is effective through 2012 and is expected to result in an additional $80m in revenue to FMC Technologies. FMC's scope of supply includes storage, maintenance, commissioning and offshore services for subsea and topside control systems and drill pipe riser systems. 10. International accountant and shipping consultant Moore Stephens has strengthened…