Service 01 — Shipping & Maritime Accounting
Your Fleet's Finances,
Managed with Precision
Full accounting management for shipping companies and vessel operators — from monthly fleet reports to per-voyage profitability, handled by people who understand how maritime businesses actually work.
Clear financial visibility across your entire fleet, every month
When your accounting is handled by someone who understands maritime operations, the numbers stop being a source of friction and become something genuinely useful. You get reports that reflect how your fleet actually operates — by vessel, by voyage, by jurisdiction.
Each month you receive a consolidated view of fleet operating costs, per-voyage profitability breakdowns, and crew payroll summaries — formatted for management review, board reporting, or lender communications.
There's a particular clarity that comes from knowing your financial records are complete, accurate, and structured the way auditors and insurers expect to see them.
REPORTING
Monthly
Fleet-wide financial summaries delivered on a regular cycle
COVERAGE
1–20
Vessels supported across a single service arrangement
SCOPE
Full
Voyage costing, depreciation, payroll, and port records
JURISDICTION
Global
Multi-flag state awareness built into all record-keeping
Maritime accounting is genuinely different — and general-purpose tools rarely account for that
Voyage economics don't fit standard frameworks
Revenue arrives in uneven tranches tied to individual fixtures. Costs split across bunkers, ports, canals, and agents — each with its own documentation trail. Off-the-shelf accounting software wasn't built with this in mind, and retrofitting it takes more time than it saves.
Crew payroll across jurisdictions is rarely straightforward
Mixed nationalities, ITF wage scale requirements, leave accruals, and repatriation provisions all need to be handled correctly. Errors here can create both financial exposure and compliance issues that take considerable effort to untangle.
The reporting your stakeholders expect has specific requirements
Lenders, auditors, and insurers all approach vessel financials differently. Preparing records that satisfy each of them — without duplicating work — requires a structure that's set up correctly from the start.
Management time spent on bookkeeping is time away from operations
For operators managing a growing fleet, the overhead of maintaining financial records in-house can quietly become significant. The time spent reconciling disbursement accounts and chasing voyage cost data is time that could be directed toward commercial activity.
How this service is structured around your actual operations
Each component of the Shipping & Maritime Accounting service addresses a distinct part of your financial picture — and they work together as a coherent whole.
01
Voyage Costing
Freight revenue, bunker costs, port charges, canal fees, and agent commissions tracked per voyage. Each completed fixture produces a clear profit-and-loss for management review and historical reference.
02
Fleet Financial Reports
Monthly operating cost summaries across all managed vessels, broken down individually. Formatted for internal management review, board-level reporting, or lender communication as required.
03
Crew Payroll
Payroll calculations across mixed nationalities and jurisdictions — covering ITF-compliant wage scales, leave accruals, and repatriation provisions. Maintained cleanly alongside the rest of the vessel's financial records.
04
Vessel Depreciation
Hull and machinery components depreciated correctly across their working lives. Dry-dock capitalisations handled in accordance with accounting standards, with documentation suitable for auditors and insurers.
05
Port Fee Tracking
Port dues, pilotage, towage, and local agent disbursements organised and reconciled against owner's statements. Maintained in a form ready for audit and cross-referencing against voyage cost records.
06
Multi-Jurisdiction Compliance
Financial records maintained with awareness of flag-state requirements and international regulatory frameworks. Structured to remain consistent across multiple ownership entities and operating jurisdictions.
What the day-to-day actually looks like
The engagement is structured to take work off your plate — not add to it. Once the initial setup is done, most of what's needed from your side is sharing voyage data and disbursement records as they come in.
Onboarding Conversation
We discuss your fleet, your current record-keeping setup, and the reporting format that would actually be useful for you. No long intake forms — just a direct conversation.
Records Setup
We build or take over the relevant financial records, import any historical data needed, and establish the structure that will keep everything clean going forward.
Monthly Cycle
You share voyage data and disbursement records as they come in. We process them, reconcile the accounts, and prepare your monthly fleet financial summary.
Ongoing Support
Responsive communication when questions arise, and a service that adjusts as your fleet or operational profile changes — without needing to renegotiate the arrangement from scratch.
SERVICE 01
Shipping & Maritime Accounting
Full financial management for shipping companies and vessel operators managing one to twenty vessels.
MONTHLY INVESTMENT
$900
USD per month
The monthly arrangement covers all included services without per-report or per-voyage add-ons for fleet operations. What's described here is what you receive — no surprises in the monthly statement.
DISCUSS THIS SERVICEWHAT'S INCLUDED
Monthly fleet financial reports, per-vessel breakdown
Per-voyage profitability summaries
Vessel depreciation schedules maintained
Port fee and disbursement records
Crew payroll across jurisdictions
Multi-jurisdiction and flag-state aware record-keeping
Audit and insurer-ready documentation
Responsive support between reporting cycles
How this service produces accurate results, consistently
The methodology starts with how maritime businesses actually generate financial events — voyage by voyage, port by port, payroll cycle by cycle. Records are structured around those events, rather than forcing shipping operations into an accounting model designed for other industries.
Monthly reporting follows a consistent cycle. Voyage data and disbursement records are processed as they arrive, reconciled against statements, and consolidated into fleet summaries within an agreed timeline each month.
Over time, the accumulated records build a financial history that supports management decisions, lender relationships, and regulatory requirements — without needing to reconstruct anything under pressure.
Voyage-event accounting
Records built around voyage events as they occur — not retrofitted at month-end from bank statements and emails.
Multi-layer reconciliation
Port disbursement accounts, bunker invoices, and freight receivables reconciled against primary documents — not assumed.
Stakeholder-ready formats
Report structures developed to meet the specific needs of auditors, insurers, lenders, and management — without needing multiple reformats of the same data.
Scalable as the fleet grows
The structure accommodates fleet growth without requiring a full rebuild of the accounting setup each time a new vessel is added.
OUR COMMITMENT
Starting is straightforward, and we work to make it feel that way
Initial consultation at no charge
The first conversation is about understanding your situation. There's no commitment involved, and no obligation to proceed.
Transparent scope before we begin
Before any work starts, we agree on exactly what's covered, what the reporting cycle looks like, and what you'll be paying.
Responsive if questions arise
Questions about specific records or reports get a direct response — not a ticketing queue with a three-day turnaround.
How to move forward
The path from first contact to active service is designed to be direct. Here's how it typically unfolds.
STEP 01
Send an enquiry
Use the contact form to describe your fleet and current accounting situation. A brief description is enough to start.
STEP 02
Introductory call
We schedule a call to understand your operations in more detail and answer any questions you have about the service.
STEP 03
Scope agreement
We confirm what's covered, the reporting cadence, and the data workflow — all in writing before anything begins.
STEP 04
Service begins
Onboarding takes place, records are set up, and the monthly reporting cycle starts — typically within the same billing period.
Ready to put your fleet finances in order?
If your accounting setup has been something you've been managing around rather than relying on, this service is worth a conversation. Use the contact form on the main page to get in touch.
START A CONVERSATIONExplore other Fennmark services
SERVICE 02
Voyage Cost & Revenue Accounting
Detailed financial tracking on a per-voyage basis — freight revenue, bunker expenses, port charges, and agent commissions. Each voyage produces a standalone P&L summary.
$500 USD/voyage
VIEW SERVICESERVICE 03
Vessel Depreciation & Asset Management
Depreciation schedules and asset records for vessel owners — acquisition cost allocation, dry-dock capitalisations, and annual summaries for financial reporting and insurance.
$650 USD/year per vessel
VIEW SERVICE