Tag: Moore Stephens

Shipping confidence achieved a four-year high in the three months to end-February 2018. The average confidence level expressed by respondents increased from 6.2 out of 10.0 in November 2017 to 6.4. A major new investment over the next 12 months is more possible now than at any time in almost four years, even though finance will probably be more expensive to access.

The ship management sector is broadly split in two, between independent ship managers and in-house managers, while about 10% of the world merchant fleet greater than 5,000 GRT and built after 1991 are independently managed by the top 20 independent ship management companies, according to Moore Stephens.

In 2017, shipping confidence continued its high rating. Oil prices reached their highest point in three years, while in the Baltic Dry Index a 50% rise was noticed in the second half of 2017, Richard Greiner said.

Moore Stephens revealed that charterers are leading the way in terms of improved confidence and appetite for new investment. There is optimism in the dry bulk trades, and evidence of continuing improved confidence in the gas sector. The Baltic Dry Index has risen by over 50% in the past six months.

A recent survey by Moore Stephens revealed that vessel operating costs are expected to increase during this year and also the following, specifically by 2.1% in 2017 and by 2.4% in 2018. The international account and shipping consultant said that  repairs & maintenance and spares are the cost categories which are expected to rise most significantly. 

The total operating costs for the tanker, bulker and container ship sectors were all down in 2016, according to Moore Stephens' OpCost 2017 report. On a year-on-year basis, the tanker index was down by 3 points, or 1.7%, the bulker index also fell by 3 points, or 1.9% and the container ship index was down by 1 point, or 0.6%.

Moore Stephens presents the results of a survey on shipping industry's risk landscape, revealing a slight improvement over the past year, due to effective risk management. However, shipping still needs to pay attention to its exposure to risk, which is increasing and changing in nature.

Moore Stephens consultancy explains what the new accounting standard IFRS 15 - Revenue from Contracts with Customers - means for the shipping company. The standard comes into force from 1 January 2018, excluding revenues under leasing contracts, so income from bareboat charters and the asset element of time charters will be unaffected.

Shipping confidence held steady in the three months to end-February 2017, Moore Stephens' latest Shipping Confidence Survey shows. Specifically, the average confidence level expressed by respondents was 5.6 out of 10.0, unchanged from the previous survey in November 2016 and equal to the highest rating since August 2015.

The UK Budget 2017 contained no unwelcome surprises for the shipping industry, and some good news for the offshore sector. The Apprenticeship Levy was announced in the 2016 Budget and aims to fund three million places for apprentices. International accountant and shipping adviser Moore Stephens presented the key elements.