Budget 2021 analysis: What does it mean for you and your business?
| Our expert analysis is live The Chancellor has presented his Budget for recovery. The range of measures announced included an extension of Covid-19 support packages, incentives for investments in growth and an eventual increase to corporation tax. Read our analysis on what Budget 2021 means for you and your business.BUDGET 2021 ANALYSISJoin our personal, business and employment tax specialists as they analyse the... |
The UK Shipping sector beyond Brexit
The UK-EU Trade and Co-operation Agreement (TCA) contains details of the many rules that need to be applied in carrying on business between the UK and EU member states. Generally, the agreement was welcome news to the UK shipping sector, as it established a firm foundation for continued trade in goods and a baseline for further agreement on services. In our recent ‘Rethinking the Economy’ survey, for example, over 90% of Shipping companies said that they...
https://allaboutshipping.co.uk/2021/03/03/the-uk-shipping-sector-beyond-brexit/
Going Concern – are you asking the critical questions?
| Shipping is a service industry dependent on world trade flows to create the demand for its services. Despite the shipping industry being very resilient on the whole, COVID-19 has impacted different aspects of the shipping industry, including the ongoing restriction of free movement of seafarers. For example, much of the cruise sector remains suspended and the offshore sector continues to be effected by a lack of capex spending by the oil... |
https://allaboutshipping.co.uk/2021/02/25/going-concern-are-you-asking-the-critical-questions/
While optimism is returning to the economy, 83% of U.S.-based chief financial officers (CFOs) expect their company to take up to a year to recover, according to the 2021 BDO Manufacturing CFO Outlook Survey.
Of the 100 CFOs polled for the survey, 24% also said they plan to relocate their supply chains to another country in 2021, with the U.S. topping locations manufacturers saw as the most stable market to source materials.
The survey was conducted in September, polling 100 manufacturing industry...
https://www.freightwaves.com/news/22-of-companies-plan-to-reshore-to-us
Read the latest Bottom Line – Autumn 2020
| Welcome to the latest issue of our quarterly shipping industry newsletter, Bottom Line.In this edition, our feature article focuses on the launch of OpCost 2020, now celebrating its 20 anniversary. We also cover the pertinent topic of cyber-security following the recent cyber-attacks on CMA CGM and the IMO, an update on IT for business success, an introduction, with Brexit looming, to Declaron a... |
https://allaboutshipping.co.uk/2020/12/10/read-the-latest-bottom-line-autumn-2020/
The United States-Mexico-Canada Agreement (USMCA) trade pact goes into effect Wednesday, bringing new regulations aimed at boosting North American economies.
President Donald Trump signed the USMCA trade pact into law on Jan. 29, replacing the 26-year-old North American Free Trade Agreement (NAFTA). The USMCA overhauls rules for trade in agriculture, manufacturing and services with Mexico and Canada.
Key parts of the new trade deal include requiring 75% of a vehicle’s components be made in the...
https://s29755.pcdn.co/news/usmca-enters-into-force-amid-pandemic-related-uncertainties
The shipping industry faces some very significant challenges over the coming years but has a number of reasons to be cheerful as it enters a new decade, according to accountancy and business advisory firm BDO.
Richard Greiner, Partner, Shipping & Transport at BDO, says, “Last year marked the 150th anniversary of the opening of the Suez Canal, which in many ways helped to revolutionize the conduct of global shipping markets. Now, on the cusp of a new decade, whilst there is nothing comparable in...
https://www.marineinsight.com/shipping-news/shipping-provides-reasons-to-be-cheerful-bdo/
Confidence in the shipping industry rose in the last quarter to its highest level for 18 months, according to BDO.
https://worldmaritimenews.com/archives/288487/bdo-shipping-confidence-reaches-18-month-high/
Richard Greiner
Vessel operating costs expected to rise in 2019 and 2020
International accountant and shipping adviser BDO says total operating costs in the shipping industry are expected to rise by 2.5% in 2019 and by 2.7% in 2020.
Responses to the firm’s latest annual Future Operating Costs Survey revealed that insurance is the cost category likely to increase most significantly in both 2019 and 2020. In the case of protection and indemnity insurance, the predicted increase is 2.0% for each of...
Michael Simms
BDO says shipping must improve its risk management procedures
Sound enterprise and business risk management are making an improved contribution to commercial success in the shipping sector, according to the latest annual Shipping Risk Survey by leading shipping adviser and accountant BDO. But the industry still needs to improve its risk management procedures in the face of a growing level of threat to its security.
Respondents to the BDO survey rated the extent to which enterprise...