Shipping must seize the moment and reinvest much of the windfall profits it is currently piling up into cleaner vessels, major Greek Cypriot shipowner Polys Hajioannou said during Posidonia on Wednesday.

His call comes just one day after a Clarksons analyst told the TradeWinds Shipowners Forum that the industry has invested less than half of the profits earned so far in the boom into newbuildings, as opposed to almost all of them back in 2008.