Global shipping faces a new bulldozer coming straight at it, and it is pitifully underprepared.

The industry is already facing the likely introduction of tough carbon emission restrictions by the European Union.

Parts of the maritime world are still reeling from Covid-19, not least the difficulties of getting staff quickly on and off vessels.

This past week, a new threat arose with the G7 group of advanced economies announcing a “historic agreement” on a global tax deal.