Skills in Port and Maritime Consultancy ~ Financial

We have provided technical and business advisory services covering risk issues on many port projects. We are close to but independent of the industry, and therefore offer balanced and objective advice. Examples of financial advisers we have worked with include:

• Standard Bank: Port of Maputo, Mozambique
• Hypovereinsbank: Port terminal, Port of Tallinn, Latvia
• Sumitomo Bank: Port Terminal, Port of Novorossiysk, Russia
• Barclays Capital: Wightlink bond issue (UK port and ferry company)
• Bank of America: Thilawa container terminal, Yangon, Myanmar
• Deloitte Touche: two UK port facilities
• Moore Stephens (leading ship finance accountants)

Financial analysis is an important component in investment appraisal and business plans, and has been a key component in the following assignments:

53 projects were relevant to this section. Listing 5 most recent projects:

Establishment of Ferry and Water Taxi Company, Abu Dhabi City, UAE

Abu Dhabi Water and Electricity Authority (ADWEA) wished to investigate the feasibility of establishing a company to provide ferry and water taxi services forAbu Dhabi City and its surrounding islands. It therefore commissioned Fisher Associates, in association with Atkins and BMT Nigel Gee, to prepare a feasibility study on establishing ferry and water taxi services. (2010)

The methodology included:

• Market Assessment to identify possible passenger uptake based on specific projects and developments located in the area.
• Technical Assessment to evaluate and sift a range of options, ensuring that the preferred operations have been properly tested against alternatives.
• Business Strategy setting out the key strategic choices and options.
• Financial and Economic Appraisal with a sensitivity analysis.
• Recommendations on preferred options and key risks.

Value for Money Audit, Jersey Coastguard

Jersey Coastguard is a branded service provided by Jersey Harbours. Its primary purposes are to:

• Encourage safety at sea.
• Monitor activities in Jersey's territorial waters.
• Coordinate an emergency response when required.
• Provide pollution response.

Jersey Harbours commissioned Fisher Associates to undertake a Value for Money (VFM) audit of Jersey Coastguard. VFM is high when costs are relatively low (good economy), productivity is high (good efficiency) and successful outcomes have been achieved (good effectiveness). Value for money audit centres around these "3Es".

Put another way, the questions posed were:

• Can cost be reduced yet the same output provided?
• Can greater output be achieved for the same cost?
• Does the service provide what such a service should provide?

Our report provided a full set of recommendations, which we developed into an Action Plan. (2010)

Ship Repair Facility Study, Shetland, Scotland
We were appointed by the Shetland Islands Council, under subcontract to Arch Henderson, to assist with the preparation of this study into the provision of a ship-lift or dry dock or other facility for ship maintenance and repair. Our role included consideration of markets, type of facility, management and operations. (2010)

Business Improvement Plan, Port of Sunderland, England

Following our previous commission, Sunderland City Council retained us to prepare scenarios for how the Port could be organised, managed, and traded into a position of financial self-sufficiency. This included a clear analysis of the cost structure of the activities of the port, and a thorough assessment of the markets and cargoes that the Port might win. The objective was to identify how it could transition to a fully sustainable port business. (2009)

The key aspects of the plan were:

• Clear analysis of the cost / revenue / profitability structure of the port business to establish exactly where it is now.
• Market review of the Port of Sunderland's competitive position, and identification of cargo in the regional market and key opportunities for growth.
• Identifying any outstanding essential requirements for maintenance, and potential ideas for physical development.
• Preparation of a new governance and organisation structure.
• Identification of measures to achieve financial improvement and financial analysis to illustrate how the Port may achieve its goal of financial self-sustainability.

Strategic Plan, Shipping Division, Government of Mauritius

Fisher Associates was tasked with assisting in the development of a comprehensive strategy for the Shipping Division within the Ministry of Public Infrastructure, Land Transport and Shipping. (2009)

The Shipping Division had grown by accretion over the years and undertook three main functions:

• Maritime safety, including the Ship Register - a regulatory function.
• Shipping development - an economic / commercial role.
• Seafarer training - an educational activity.

Our reporting was structured to provide a number of discrete deliverables:

• Executive Summary
• Volume 1: Baseline Review
• Volume 2: The Strategy
• Volume 3: Implementation Plan
• Volume 4: Performance Based Budget

All Projects In This Section