There is little doubt that financial reporting in the shipping industry has grown significantly in complexity over the last few years. This was driven by two main factors: new financial reporting standards and more complex transactions.
These happened to coincide with a growing market in which more and more investors were looking to capitalize on Shipping Industry’s exceptional returns and a number of shipping companies have chosen to raise capital from the public markets, which itself has led to increased demand by the new investors and other entrants for more transparency, improved reporting of financial and non-financial performance and more reliable and timely information.
On the transactions side we have experienced more extended use of derivative financial instrument, leasing structures and sale and leaseback transactions, profit sharing arrangements, options to building slots at yards etc.
Our investment in this field ranges from the development of internal and external training courses tailored to address developments in this area for the shipping industry to the issue of publications for our clients to address issues as they arise. We believe that we have the most experienced and best qualified team in the Shipping Industry to deliver to you our service offering and address the new demands and challenges that your company is facing in the field of Assurance and Financial Reporting.