Top Clarksons executives have booked smaller bonuses in 2018 thanks to a combination of lower profitability and higher thresholds.

Both chief executive Andi Case and finance and operating chief Jeff Woyda saw their pay packets shrink, according to Clarksons’ annual report.

It comes amid a tightening focus on remuneration at the world’s largest shipbroker during the past two years, following growing resistance among some investors.