Moore Stephens News

03 Jan 2019

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

Richard Greiner (Photo: Moore Stephens)

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…

14 Dec 2018

Moore Stephens: Shipping Confidence Dips

Image: Moore Stephens UK

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…

25 Oct 2018

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

Richard Greiner, Moore Stephens partner, Shipping and Transport

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…

05 Sep 2018

Moore Stephens: Weak Spots in Shipping Risk Management

Image: Moore Stephens UK

Confidence in the ability of sound risk management to contribute to commercial success in the shipping industry has fallen in the last 12 months, according to the latest annual Shipping Risk Survey from Moore Stephens.Respondents to the survey rated the extent to which enterprise and business risk management is contributing to the success of their organisation at an average 5.9 out of a possible score of 10.0, compared to 6.8 in the 2017 survey.Brokers returned the highest rating, followed by ship managers.

07 Aug 2018

Australia Opens Up Opportunities for UK Shipping

Image: ASC Shipbuilding

A major investment in new frigates and submarines by the Australian government has created long-term opportunities for UK and European businesses with relevant intellectual property and expertise, said Moore Stephens. This summer the Australian government awarded UK firm BAE Systems a contract to build nine next-generation frigates – known as the ‘Future Frigates’ project – worth A$35 billion, said a research report written by Moore Stephens' Michael Simms & Grant Miles.The programme…

11 Jul 2018

Shipping’s Half Year Report: Extra Classes Needed?

© donvictori0 / Adobe Stock

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…

28 Jun 2018

Shipping Industry Confidence Holds Firm: Moore Stephens

Image: 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.

29 Mar 2018

Shipping Industry Confidence at Four-Year High

Greiner Richard (NS) Photo Moore Stephens LLP

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…

04 Jan 2018

Moore Stephens: Optimism to Outweigh Shipping Pessimism in 2018

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International accountant and shipping adviser Moore Stephens expects optimism to triumph over pessimism in the shipping industry during the next 12 months. Writing in the latest issue of Bottom Line, the newsletter of the Moore Stephens shipping industry group, partner Richard Greiner says, “According to a recent study, pessimists live longer than optimists, and shipping is short of neither. But the industry has always valued longevity as well as new blood, and it certainly ended 2017 in more optimistic mood than it closed the previous year.

21 Dec 2017

Second-hand Ship Sales Reach 10-year High

File Image (CREDIT: AdobeStock / (c) Lucasz Z)

Shipping struggles to recover from worst crisis in 30 years; market for new ships remains weak. Sales of second-hand ships reached a 10-year high on cautious optimism that one of the shipping industry's worst ever downturns is nearing an end. An increase in cargo demand has helped revive confidence this year in a sector that is starting to emerge from a 10-year slump fueled by owners splurging on thousands of new ships. "Second-hand purchases go up when optimism is thriving. 2017 has certainly been a year that has lent optimism a hand…

19 Dec 2017

Shipping Confidence Rises to 3.5 Year High -Survey

© yaniv / Adobe Stock

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…

27 Oct 2017

Ship Operating Costs to Increase for 2017 and 2018

Image: Moore Stephens UK

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.

26 Oct 2017

Vessel Operating Costs on the Rise -Moore Stephens

© Big Face / Adobe Stock

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.

28 Sep 2017

Shipping Operating Costs Declining -Report

© yaniv / Adobe Stock

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…

25 Sep 2017

Shipping Confidence Continues to Climb -Report

© weerasak / Adobe Stock

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.

31 Aug 2017

Shipping Beware Changing Risk Landscape -Moore Stephens

© M. Johannsen / Adobe Stock

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…

21 Jun 2017

Shipping Confidence Climbs to Three-year High

© Sergey Evsyukov / Adobe Stock

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.

17 Apr 2017

Global Maritime Community Gathers in Singapore

Photo: Maritime and Port Authority of Singapore (MPA)

Amid structural and cyclical changes brought about by over-capacity, mega-alliances, increasing digitisation, as well as economic and geopolitical uncertainties, Singapore remains a premier global hub port and leading international maritime centre that held steady growth in 2016. In the face of headwinds, Singapore Maritime Week (SMW) 2017 – organised by the Maritime and Port Authority of Singapore (MPA) – will rally the global maritime industry for a week of discussions and networking to address critical issues impacting the regional and international maritime scene today.

24 Mar 2017

VLCC Rates to Remain Weak on Output, Tonnage Woes

© Björn Wylezich / Adobe Stock

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…

21 Mar 2017

Shipping Confidence Steady despite Industry, Political Pressures

© Federico Rostagno / Adobe Stock

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.

10 Feb 2017

Asia, Mideast Product Tankers Idled on Oversupply

File Image: Credit BMT

Lower product shipments from India, Mideast; diesel comes off floating storage, frees up ships. Dozens of tankers used to carry refined oil products are sitting idle in Asia and the Middle East as slow trade and an oversupply of ships have cut daily earnings to as little as a fifth of last year's level, shipbrokers and traders said. Shipping data in Thomson Reuters Eikon shows around 50 product tankers currently floating idle off Singapore and Fujairah, United Arab Emirates. Besides…

21 Dec 2016

Shipping Confidence Improved: Moore Stephens

Graphics: 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.

20 Dec 2016

Shippers’ Confidence at 15-month High -Survey

© Sergii Figurnyi / Adobe Stock

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.

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