UK shipbroker Clarkson’s index of major vessel rates saw an increase of 93% last year, with sale-and-purchase activity and newbuilding ordering also seeing major improvements.

Stephen Gordon, managing director of Clarksons Research, said the sector had performed "remarkably" in 2021 after showing admirable resilience to the pandemic in 2020.

He added that widespread congestion and modest fleet supply growth contributed to the 93% jump in the ClarkSea Index to an average of $28,700 per day over the last year.