International accountant and shipping adviser Moore Stephens has warned that some shipping companies are not adequately prepared to conduct successful negotiations with their banks, which are likely to occur with increasing frequency. “Shipping is experiencing tough times,” said Paul Edwards, a Moore Stephens corporate finance director. “An increasing number of companies are unable to repay or, in some cases, even service their debts. That could mean an uncomfortable meeting with the bank. “Businesses must be able to produce properly documented and timely financial information for their stakeholders, which should include a view of the future,” Edwards continued.