Shipowners Should Take E-Commerce Seriously

Shipping accountant Moore Stephens has warned shipowners to take e-commerce more seriously if they want to retain investor interest and commercial advantage. Philip Cowan, a partner in Moore Stephens Corporate Finance, said shipowners need to make the effort to find out who is doing what in e-commerce, and why, and then make a judgment about whether or not they can save money by purchasing or dealing through the internet. Owners contemplating a public listing or bond issue should consider an e-commerce dimension, most easily obtained by taking a stake in a developing e-commerce shipping portal, adds Cowan.

Most stock market-listed shipping companies are still suffering low share prices. But Moore Stephens says Norwegian shipping shares have held their value, and attributes this in part to the fact that Norwegian shipping companies have been quick to ally themselves to fledgling dot.com businesses.

As yet, there is little to measure in terms of the performance of the various shipping portals, because few of the sites are actually functioning.

Maritime Reporter Magazine, page 47, Jun 15, 2000

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.