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  • Transport and shipping

BDO Norway builds on shipping and offshore presence

Norway is currently the world's fifth largest maritime nation, and the second largest in terms of offshore vessels, while Oslo is the world’s second largest securities market for shipping measured in terms of numbers of listed companies. BDO Norway, the third-largest audit, advisory, accounting and tax firm in the country, is a leading provider of audit and transaction advisory services to the maritime industries and is particularly active in the offshore shipping and aquaculture sectors. 

In recent years, the offshore maritime industry has faced a number of serious challenges, which led to a significant decline in revenues and the writing-down of asset values. Although the Norwegian offshore maritime sector now has great potential for future growth, not least in the offshore wind market, there has been widespread consolidation within the industry, company restructuring and the need to conclude or renegotiate agreements with financiers to secure future trading. 

BDO Norway has played a leading role in providing the services which the industry needs to navigate these difficult waters. BDO’s experts act as auditor and adviser to numerous companies in the shipping and offshore maritime sectors on a range of issues, including tonnage tax regime compliance, tax optimization, restructuring, transaction and IPO advice, compliance with international and domestic laws and regulations, and valuation assessment. BDO Norway is also committed to developing services focused on sustainability, including the shift towards more energy-efficient operation, green fuels, and the retrofitting of ships. 

BDO Norway look forward to strengthening still further its strong relationship with the shipping and offshore maritime industries.