Shipping

Shipping

  • Does your management reporting provide relevant, reliable and timely information to support your decision making process?
  • Are your operations carried out in a risk-free, efficient and effective way? Do you need to reduce or reconfigure your cost base?
  • Do you have a robust budgeting process and a yearly budget which is used as a benchmark for actual performance throughout the year? 
  • Are there any grey areas in your reporting lines, roles and responsibilities which create friction and conflicts?
  • Do you need to comply with SEC requirements in relation to SOX s404 and XBRL?

Our shipping experience and expertise

The uncertain global economic environment, the oversupply of new and bigger vessels, the unprecedented volatility in the freight rates and vessel values, the risk of piracy, the increasing regulation and environmental concerns - are factors which have added to a very challenging business environment that puts shipping executives to the test.

Companies that are able to critically assess the situation can navigate a challenging business environment in a way that makes the most of opportunities arising. Those who don’t know enough about their organisation or the external market will be inclined to take the path of least resistance, leading to defensive and unsuitable actions. 

Our dedicated shipping industry team is constantly developing specialised services and business solutions to assist you with the increasing complexities and challenges. We can help you understand the current issues and industry trends and help make decisions that are in the best interests of your company.


How we can add value to your shipping business

Performance Management & Improvement

We can help you streamline your operations and enhance the core transaction processing and reporting competencies of your finance function in order to strengthen its ability to support management decision- making and corporate strategy. We can assist you with:

  • Operations process optimisation
  • Consolidation and reporting
  • Management information
  • Budgeting and business planning
  • Cash flow forecasting and reporting
  • Working capital management

Sarbanes-Oxley s404

We can assist you ease the burden and make the most of your requirement to comply with Sarbanes-Oxley s404. Our services include: 

  • Risk assessment and scoping
  • Process documentation and improvement
  • Controls testing and assessment
  • SOX Readiness Assessment
  • Service Organisation Control Reports (SOC)

Corporate Governance and Internal Audit

We can help you enhance the transparency and governance of your organisation including the effectiveness and efficiency of your Internal Audit (IA) function by providing specialist services in relation to:

  • Corporate structure
  • Board, committees and management level responsibilities - delegation of authorities
  • Evaluation of the IA strategy and organisation
  • Risk identification, assessment and management - Audit Plan preparation
  • Implementation and training of IA systems (TeamMate Audit Management tool)
  • Testing of automated and manual controls
  • IA outsource and co-source

XBRL Reporting

We provide end-to-end XBRL Reporting services, making sure high quality filings within SEC deadlines. Our services include:

  • Integration of XBRL into the Financial Reporting process
  • Mapping of your financial statements to the US GAAP taxonomy
  • XBRL taxonomy development, tagging and validation

People and Change

We can help you align your people (crew and office staff) to your corporate strategy, mission, vision and goals. We provide:

  • Executive Search and Selection
  • Organisational Restructuring and Change Management
  • HR systems and policies
  • Building capabilities (training, coaching, talent development)

Technology

We can assist you leverage technology to transform your business and increase your competitiveness. Our services include:

  • System selection and implementation
  • IT governance and controls services
  • IT security services including security risk assessment and penetration testing
  • Enterprise application controls assessment, design and deployment

Sustainability and CSR

We can help you address and manage challenges relating to sustainability and Corporate Social Responsibility (CSR). Our practice offers a range of solutions that are clustered around five major service areas:

  • CSR strategy design and deployment
  • Reporting and assurance of non-financial information
  • Climate change and emissions trading
  • Transaction support for environmental, health and safety, and reputation issues
  • Supply chain risk management
 


Our team is available to meet and discuss with you how we can match our local and global expertise to your needs and requirements and formulate the right solution for you.