As globalization reached its peak, the shipping and transportation industry profited significantly from strong economic conditions, buoyant world trade, increased investment capital and the rising demand for consumer goods.
Since then, an unprecedented global credit crunch preceded by a deepening economic recession that negatively impacted many global companies in almost every aspect of their business.
To further complicate issues, oil volatility coupled with carbon emissions reduction has increased pressure on transportation companies, most notably airlines. Changes in consumer buying have led to decreased transport volumes, and to less expensive and alternative delivery modes. The economic downturn highlights more fundamental challenges on the shipping and transportation industry. Challenges such as determining ways to modernize or replace energy-inefficient transportation fleets, improving technology and enacting other efficiencies, and reducing risks and insurance costs while contending with a worldwide cutback in the demand of goods.
RotenbergMeril has a long history of providing services to the transportation industry. We have the technical skills and financial expertise to help you make better decisions about the future of your business. Many of our clients include those who are in trucking, freight consolidation, distribution and brokerage. Therefore, we are well versed in the various unique road and fuel transportation taxes with which our clients must comply.
In addition to accounting, auditing, tax and consulting services, our transportation industry specialists provide services in:
- Family succession planning
- Business valuation
- Computer/IT consulting and systems installation
- Strategic business planning