The daughter of a traditional shipowner today urged the industry to return to the old ways and resist the lure of financial speculators who care mostly about a quick profit.

Angela Chao, deputy chairman of New York’s Foremost Group, appealed for a professional approach to vessel ownership at a keynote luncheon speech at the Association of Ship Brokers and Agents (ASBA)'s annual cargo conference in Miami Beach.

Shipping was spoiled by the commodities boom that ran from 2003 until the world financial crisis in 2009 by has a chance to mend its ways, she argued.