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Moore Stephens

Moore Stephens Strengthens BI Team in Latin America

Leading accountant and consultant Moore Stephens has recruited insurance analyst Norma Peralta as Operations Manager for Moore Stephens Latin America, based in Panama City. Norma joins Moore Stephens from ProClarity Corporation, the U.S.-headquartered provider of analytical solutions with whom Moore Stephens has a strategic worldwide partnership. Norma's work will involve a range of consultancy, project management, strategic planning, training, sales and demonstration work in connection with Business Intelligence (BI) solutions for the insurance industry.


Moore Stephens Branches Out To Russia

Shipping accountant Moore Stephens has continued its expansion in Russia by opening an office on Sakhalin Island in Russia's Far East. Martin Rix will move from Moore Stephens' Vladivostok office to set up the new facility, while Chris Chasty, a senior shipping partner of Moore Stephens London will be the responsible partner.


Moore Stephens says tonnage tax proposals lack flexibility

Shipping accountant Moore Stephens says draft proposals on the new U.K. tonnage tax regime lack the flexibility shipowners need for timing acquisitions and sales of ships. It also warns that the draft legislation contains a very broad anti-avoidance clause that could cause companies to unintentionally breach the detailed rules of the tonnage tax scheme. Balancing charges will not crystallize on entry. However, they may arise when vessels are sold, although they will be phased out


Walker Joins Moore Stephens

Moore Stephens has appointed Lloyd's insurance market expert Tim Walker a consultant to its insurance and business intelligence team. Walker has extensive experience of international - and particularly Lloyd's - underwriting markets. He was a director of Miller Underwriting Agencies for ten years until starting his own full-time Lloyd's consultancy in 1993, in which capacity he acts as manager to Charles Taylor & Co, managers of The Stop Loss Mutual Insurance Association Ltd.


Moore Stephens Appointed by Sunderland Marine

Moore Stephens Consulting Ltd., has been appointed by Sunderland Marine to implement a Business Intelligence solution on a Microsoft SQL 2000 platform, coupled with the award winning ProClarity analytical software. The project, which is already underway, will help Sunderland Marine to improve control of risks underwritten and monitor key performance indicators. Stephen Downing, Director from Moore Stephens Consulting said


Wages Push Up Operating Costs

Shipping accountant and business consultant Moore Stephens says a five per cent rise in crew wages last year has pushed up total operating costs for most types of ship. Unveiling OpCost 2002, Moore Stephens' operating cost benchmarking tool, Chris Chasty, head of the shipping group, says, "We have been able to see some clear trends in operating costs over last year. Almost all the ship types we cover have seen total costs rise, with the average about five percent


NCV Uses Moore Stephens

Specialist cruise operator Norwegian Coastal Voyage has improved its booking management and customer satisfaction by installing new software tailor-made by Moore Stephens Consulting Limited. The system has recently been implemented in NCV’s New York office and has run successfully in the London office since 2003. NCV is a travel company that caters to the individual requirements of its customers. It delivers a range of package


Moore Stephens Says Insurance Industry Must Embrace Business Intelligence

Regulatory developments mean that failure to make proper use of business intelligence systems and actuarial consultancy to assess risk could lead not only to significant financial losses but also to disciplinary penalties for insurance underwriters and brokers, according to leading accountant and consultant Moore Stephens. John Harbor, head of the Moore Stephens Insurance Industry Group, says, "Professional risk analysis and modern data management techniques are


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. Moore Stephens, AHL merger


UK Budget 2012 Includes Good Signs for Shipping Industry: Moore Stephens

International shipping adviser Moore Stephens said the UK budget for 2012 contains some encouraging signs for the shipping industry. The government has stated that it will consult later this year on whether to introduce a rule allowing companies with a non-sterling functional currency to compute their capital gains and losses in such functional currency, rather than in sterling, as is currently the case.  “This is of particular relevance for UK companies


Shipping Industry Upswing in 2015, Moore Stephens Predicts

Photo: Greg Trauthwein

International accountant and shipping adviser Moore Stephens believes that the shipping industry’s fortunes should be noticeably improved by 2015 if it maintains the recovery which got under way last year. But it warns that the prospects for recovery may still be fragile if the industry


Moore Stephens Urges Changes to UK Tonnage Tax

International accountant and shipping adviser Moore Stephens has made representations to Her Majesty’s Revenue & Customs (HMRC) about changing the way in which the written-down values of vessels are calculated under the U.K. tonnage tax rules


UK Budget 2014 Good News for Shipping: Analysts

Chancellor of the Exchequer: Rt Hon George Osborne MP: Official photo

The UK government’s Budget 2014, issued on 19 March 2014, is good news for UK shipping as it ensures the continuation of a stable UK tax regime for shipping, as has been the case for the past few years, according to international accountant and shipping adviser Moore Stephens.


Investors Snap Up Shipping Loans, Reflecting Growing Confidence

Calculator credit Dominic Alves CCL

Global private equity firm KKR has bought $150 million worth of shipping loans from two European banks amid a surge of interest in the industry as world trade in goods picks up along with the global economy. There have been a flurry of deals in recent months for ship finance loans


Greek Shipowners Hit by Tax Changes

Greek shipowners must now pay tonnage tax on ships operating under flags other than the Greek flag which are managed by companies based in Greece, or offshore companies which have a branch in Greece, operating under Law 89 of the Greek constitution.


Security Deposit Interest Ring-fenced Under Tonnage Tax

International accountant and shipping adviser Moore Stephens has welcomed a decision by the U.K. First Tax Tribunal that interest received on security deposits relating to loans taken out to buy ships within tonnage tax is not taxable. HMRC had argued that the interest income was outside


MNOPF Funding Shortfall to Deliver Hard Hit

International accountant and shipping adviser Moore Stephens warned that the latest valuation relating to the post-1978 (new) section of the Merchant Navy Officers Pension Fund (MNOPF) will place further financial strain on shipping companies involved in the scheme.


Shipping Industry Still More Confident, But Some Waver

Overall confidence levels in the shipping industry held firm over the three-month period to August 2013, maintaining the highest level reached since November 2010, according to Moore Stephens' latest Shipping Confidence Survey, but some industry insiders they sounded out had mixed views.


Focus on Cash Control Impacts Ship Operating Costs

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average 1.8% in 2012. This compares with the 2.1% average rise in costs recorded for the previous year. There was a significant reduction in costs across all


Moore Stephens Welcomes EC's State Aid Decision

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International accountant and shipping adviser Moore Stephens has welcomed a decision by the European Commission to keep in place in their current form the guidelines relating to state aid to maritime transport, which include EU tonnage tax regimes


EU State Aid Guidelines Welcomed by Shipowners, Not by Union

The shipping industry has welcomed a decision by the European Commission to keep in place unchanged guidelines relating to state aid to maritime transport, which include tonnage tax regimes, but seafarers' union Nautilus sees it differently, according to the UK maritime industry's latest 'Maritime


Survey: Ship Operating Costs to Rise 3-4%

A new survey from Moore Stephens finds that vessel operating costs are expected to rise by more than three% in both 2013 and 2014, unwelcome news to shipowners that continue to struggle with low freight rates and over capacity across the oceangoing sectors.


Vessel Operating Costs Expected to Rise 3%

File image in public domain

Vessel operating costs are expected to rise by more than 3.0% in both 2013 and 2014, according to a new survey by international accountant and shipping consultant, and Maritime London member, Moore Stephens. The survey is based on responses from key players in the international shipping industry


Coming your way, a 3% rise in Operating Costs

(Photo: Alex Sergienko)

A new survey from Moore Stephens finds that vessel operating costs are expected to rise by more than 3% in both 2013 and 2014. While this news should not be unexpected it is nevertheless bad news for ship owners that continue to struggle with low freight rates and over capacity across several


Shipping Confidence Trending Higher Into 2014, Finds Survey

Average confidence graph: Image courtesy of Platts

The shipping world appears to be entering 2014 with a higher level of confidence than it has the past three years, according to the latest Shipping Confidence Survey from international accountant and Maritime London member Moore Stephens.


 
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