Rodgers’ total remuneration grew to £669,863 ($908,198) in 2014 from £612,800 in the previous 12 months, the shipowner’s annual report said.

The chief executive – who began the year by spearheading a 15 strong VLCC purchase from Maersk Tankers that was first revealed by TradeWinds – saw his base salary rise from £284,000 to £351,228, the report said.

His bonus was also modestly larger at £295,296 from £268,000 the previous year, while his director’s fees were waived.