The former head of Clarksons research says the shipping recession is getting rough.
He believes this downturn has most in common with the 1990s. Then average earnings across the industry for the decade were around $12,000 per day, against the $12,145 daily seen from 2009 onwards.
Stopford told the Capital Link conference in London: "It is pretty likely this six years (of recession) will turn into nine years.
