Shipping Accounting Manager

About This Role

Job Purpose

To manage and control the financial accounting of shipping operations of fleet of tankers ensuring accurate vessel wise reporting, voyage profitability, OPEX control, compliance with IFRS, and strong coordination with chartering, operations, and technical teams

Main Tasks and Accountabilities

• Voyage Accounting: Maintain voyage-wise accounting for vessels and bulk carriers, record and monitor voyage income and voyage expenses, prepare voyage profitability reports. Account for freight income, demurrage, dispatch, and hire payments, verify Statement of Facts (SOF) and Laytime calculations for demurrage claims.
• Vessel Operating Expenses (OPEX): Account for daily vessel operating costs, including Crew wages, Stores and spares, Insurance, Repairs & maintenance, Lubricants, Monitor vessel OPEX budget vs actual.
• Port & Marine Charges: Process and verify invoices for Port dues, Pilotage, Towage, Canal transit fees, Agency fees, Terminal handling charges, Coordinate with shipping agents and port authorities.
• Charter Party Accounting: Record and monitor Time Charter / Voyage Charter agreements. Calculate Hire payments, Bunker adjustments, Off-hire deductions, Maintain charter hire statements and reconciliations.
• Bunker (Fuel) Accounting: Account for bunker purchases and consumption. Monitor fuel inventory on board vessels. Reconcile bunker supplier invoices with bunker delivery notes (BDN).
• Cargo & Freight Accounting: Account for freight income from crude oil or petroleum product shipments, record bill of lading quantities and freight rates, monitor freight receivables and collections, Vendor & Agent Settlements. Process payments to Port agents, Ship management companies, Bunker suppliers, Ship chandlers, reconcile port disbursement accounts (PDA) and final disbursement accounts (FDA).
• Financial Reporting: Prepare Voyage performance reports, Vessel profitability analysis, Monthly marine cost reports. Vendor & Customer reconciliations. Monthly and yearly closing of accounts and preparation Profit & Loss account and Balance Sheet. Prepare MIS reports.
• Compliance & Controls: Ensure compliance with IFRS, Internal financial controls, Marine accounting policies, Support internal and external audits.
• ERP & Systems: Having experience in maintaining shipping accounting records in ERP systems such as: SAP4HANA, Microsoft Navision, Marine system IMOS. Good Knowledge of working on MS office.
• Finalization of vendors account, preparation of monthly management reports including P&L and Balance Sheet of Vessel companies, Liasioning with trading & other team.
• Timely reconciliation of Vendor, agents, customers , Timely preparation of management reports P&L and Balance Sheet, Monitoring Budget & Actual and controlling as per budget Timely payment of vendors and collection from customers, Timely Completion of Audit

Background Knowledge and Experience

• Bachelor’s / Master’s degree in Accounting / Finance / Commerce • Professional qualification preferred
• having experience of 5-10 years in shipping accounting in Oil & gas trading /tanker owner companies handling tanker operations.
• Having experience in ERP systems such as: SAP4HANA, Microsoft Navision, Marine system IMOS. Good Knowledge of working on MS office.