Moore Stephens Says Shipping Must Improve Risk Management - hellenicshippingnews.com -BoardProspects

Moore Stephens Says Shipping Must Improve Risk Management

hellenicshippingnews.com Sep 14 2016 BoardBlogs

Not enough companies in the shipping industry are following joined-up risk management procedures, according to international accountant and shipping adviser Moore Stephens. The second annual Moore Stephens Shipping Risk Survey revealed a fall, when compared to last year, in the overall level of satisfaction on the part of respondents that sound risk management had contributed to the success of their organisations ...
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1. We misjudge the market and don't take the right course of action to protect profits.
2. Market reports are uncertain. Company-specific risk matrices need to be drawn up on the basis of experience, fundamentals and hindsight following evaluation of available market analysis reports which are, however, uncertain.
3. The problems are internal rather than external. We are not versatile enough. Emerging IT is not a risk in itself, but we are too slow to adapt to changing needs and competition.
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