Shipping Industry
Brief Industry Introduction
The shipping industry forms the backbone of global trade, facilitating over 80% of the world’s merchandise movement across continents. It is not only critical for transporting goods but also for ensuring the smooth functioning of global supply chains and the integration of economies. For India, with a 7,500 km coastline, 12 major ports, and over 200 minor and intermediate ports, shipping and maritime logistics are a vital link in international commerce, energy security, and export competitiveness. Overall, the shipping industry is both a key driver and enabler of India’s global trade ambitions, but requires robust advisory, compliance management, and strategic planning to navigate regulatory challenges while tapping into growth opportunities.
At Mangesh Kadam & Associates, we provide complete financial, taxation, and compliance support to shipping companies, vessel operators, and port service providers.
Key Challenges & How We Help
High Capital & Operating Costs
Challenge
Shipping is a capital-intensive industry with huge costs in fuel, maintenance, and crew management. Delays in freight receivables create further financial stress.
Our Role
We design structured financing solutions, working capital plans, and cost optimization strategies for sustainable growth.
Foreign Exchange & FEMA Compliance
Challenge
Shipping companies earn in foreign currency and must comply with FEMA, RBI reporting, and transfer pricing norms. Non-compliance can cause penalties.
Our Role
We provide FEMA advisory, forex reconciliations, and ensure regulatory reporting with accuracy.
Taxation & Tonnage Tax Scheme
Challenge
Determining tax liability for shipping companies under the Tonnage Tax Scheme or normal provisions often creates confusion.
Our Role
We guide on opting for suitable tax regimes, prepare computations, and assist in tax audits for compliance.
Customs & Port Regulations
Challenge
International shipping requires strict compliance with customs, port clearances, and marine law regulations.
Our Role
We manage customs documentation, clearance certifications, and compliance reviews.
Statutory Reporting & Governance
Challenge
Shipping companies face risks from piracy, accidents, and cargo damage, requiring comprehensive insurance coverage.
Our Role
We provide advisory on marine insurance, claims documentation, and financial risk management.
Global Trade Uncertainty
Challenge
Geopolitical issues, freight rate volatility, and trade barriers create unpredictable challenges for operators.
Our Role
We provide business continuity planning, scenario analysis, and diversification strategies to safeguard operations.
Why Choose Us for Shipping Industry?
Specialized Maritime Knowledge
Deep expertise in shipping sector taxation, compliance, and foreign trade laws, helping businesses handle complex regulatory frameworks with ease.
End-to-End Support
Comprehensive advisory covering finance, customs clearances, insurance, and documentation to streamline day-to-day shipping operations.
Global Business Advisory
Strong understanding of international trade practices and shipping laws, enabling businesses to expand seamlessly across global markets.
Risk & Compliance Focus
Robust frameworks to identify, manage, and minimize risks while ensuring smooth operations and uninterrupted regulatory compliance.