Shipping

The shipping industry and its related activities have been enjoying above average growth over the last few years. Unfortunately, the current financial crisis, although initially limited to the financial sector, has now spread to the rest of the economy and has inevitably hit the shipping industry. The challenges and problems arising due to the current economic conditions need to be examined carefully by management and appropriate measures and action to be taken. Matters to be considered should include the following:

  • Liquidity including renewal of funding
  • Valuations and impairment tests
  • Operational resilience and effectiveness

The challenges