Shipping & Ports

Over 90% of world trade is carried by the international shipping industry. Without shipping the import and export of goods on the scale necessary for the modern world would not be possible. There are around 50,000 merchant ships trading internationally, transporting every kind of cargo. The world fleet is registered in over 150 nations, and manned by over a million seafarers of virtually every nationality. Ships are technically sophisticated, high value assets (larger hi-tech vessels can cost over US$150 million to build), and the operation of merchant ships generates an estimated annual income of over US$380 billion in freight rates, representing about 5% of the total global economy.

Opportunities in the shipping and ports industry call for adequate strategic responses. Our practice has grown in step with the industry, supporting our clients through industry restructurings, regulatory transformations, technological advances, and changes in financial reporting and corporate governance requirements. Our experience and network of dedicated industry practitioner’s positions PwC to provide clients with quality audit and professional services uniquely tailored to a large, global communications organisation. PwC’s service offerings are staffed with highly qualified, experienced individuals and leaders in our profession. We have made a major commitment to training our people in industry specific issues. Through our firm’s intranet, online daily news updates, an extensive knowledge sharing structure, and industry and technical training courses and tools, our practitioners stay on top of industry developments. In addition, each month we hold partner and manager conference calls to discuss emerging industry and accounting and control issues and their implications to our shipping and ports clients. Our investment in the shipping and ports industry provides you with professionals who understand the nuances of your industry and bring a continually fresh perspective to your organisation.

Please refer to our Global Shipping & Ports capability statement highlighting the key challenges facing companies in this sector and the services solutions PwC offers to meet these challenges.