Clarksons Research is a little more positive on shipping prospects but has warned that seaborne trade will still fall 4.4% over 2020 due to the coronavirus pandemic.

This is still worse than the contraction of 4.1% seen following the 2008 financial crash.

Managing director Stephen Gordon said: "Over the past six months, the severity of the Covid-19 economic shock and the complexities, both positive and negative, of impacts across different shipping segments have started to become a little clearer."