Moore Stephens says shipping must monitor developments in wake of Greek government change

International accountant and shipping adviser Moore Stephens says it is too soon to say whether the Syriza party’s victory in the country’s elections could, as some fear, have a damaging effect on the country’s shipping industry. Rather, it says, Greek shipping interests will need to monitor how the change of government might affect them on both a business and personal level before reviewing any long-term plans.

Moore Stephens London partner Michael Kotsapas, a shipping specialist who has been advising Greek families for over fifteen years, says, “Any change of government, in any part of the world, is likely to have implications for the national shipping industry. This is particularly true of Greece, where shipping is a significant contributor to the country’s overall GDP and a major source of employment.”

Last year, the ruling government introduced a number of changes to Greece’s tax laws, including some specific to the shipping industry, such as repealing the law imposing mandatory triple tonnage tax on Greek-flag ships and foreign-flag vessels managed out of Greece, replacing it with the voluntary contribution of double tonnage tax payments for the next four years. Another measure with a potential impact on the shipping community included the introduction, for the first time in Greece, of Controlled Foreign Companies Rules covering the concept of effective management and criteria for determining same.

Michael Kotsapas concludes, “Before the election, the anti-austerity Syriza party called for a new agreement which would involve the shipping community making a greater contribution to the national economy than it already does. It remains to be seen whether that will be the case. Shipping is a key industry in Greece, and it would be surprising and disappointing if the new government’s policy, when announced, did not reflect that. In the meantime, the shipping community will be watching developments with keen interest.”

In 1963, Moore Stephens became the first international accounting firm to set up an office in Greece. It has enjoyed strong links with the Greek shipping community for more than seventy years, advising three generations of Greek shipping families and businesses.

Moore Stephens LLP is noted for a number of industry specialisations and is widely acknowledged as a leading shipping, offshore maritime and insurance adviser. Moore Stephens LLP is a member firm of Moore Stephens International Limited, one of the world's leading accounting and consulting associations, with 667 offices of independent member firms in 105 countries, employing 27,081 people and generating revenues in 2013 of $2.7 billion.

www.moorestephens.co.uk



For more information:
Michael Kotsapas
Moore Stephens LLP
Tel: +44 (0)20 7334 9191
michael.kotsapas@moorestephens.com

Bureau Veritas Marine appoints new marketing director

Leading international classification society Bureau Veritas has appointed Paillette Palaiologou as Marine Marketing & Sales Director within the Marine & Offshore Operating Group. She is tasked with defining and leading Bureau Veritas’ business development strategy and priorities in the maritime market.

Paillette Palaiologou says, “In tight markets each client needs specific support and services. The strength of Bureau Veritas is the wide portfolio of experience we can bring to tailoring and delivering what shipowners and shipyards need. I am proud to have been given the chance to extend my marketing and sales activity to our global Marine operations.”

Philippe Donche-Gay, Executive Vice President, Marine & Offshore Operating Group, says, “Paillette Palaiologou has a strong technical knowledge and a deep understanding of the needs of shipowners and shipyards. She will bring a great deal of energy to this position and will be key to the continued success of our classification society.”

Paillette Palaiologou is a Naval Architect and holds a Master of Science in Marine Engineering from the University of Newcastle upon Tyne.  She started her professional career in Oceanbulk Maritime S.A, as Technical Superintendent and then Head of Hull & Classification Department. In July 2005, she joined Bureau Veritas as a Marine Surveyor. She has subsequently been promoted first to Senior Surveyor then Marketing & Business Development Manager for the Hellenic and Black Sea region.

For a photo of Paillette Palaiologou click on http://bit.ly/1jw4QLQ or e mail john@merlinco.com

Bureau Veritas is a world leader in conformity assessment and certification services. Created in 1828, the Group has 61,000 employees in around 1,330 offices and laboratories located in 140 countries. Bureau Veritas helps its clients to improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.

www.bureauveritas.com for corporate information                              www.veristar.com  for marine information

For more information:

Philippe Boisson

Bureau Veritas

+33 (0)1 55 24 71 98

philippe.boisson@bureauveritas.com