Warning on diving unprepared into shipping pools


Accountant and shipping adviser Moore Stephens has warned shipowners and operators to check carefully the financial, tax and jurisdictional implications of participating in shipping pool arrangements. Shipping partner Michael Simms said: “Shipping pools can be an attractive option, particularly in difficult markets and during periods of economic uncertainty. Interest in the concept generally is increasing as a way to leverage money and maximise economies of scale. But while it might make good commercial sense for like-minded shipping interests to pool their resources to mutual advantage, traps may lie in wait for the unwary.”