The shipping industry is moving to a new phase where the storm clouds are gathering, believes veteran analyst Martin Stopford. Speaking to the International Shipowning and Shipmanagement Summit (ISSS) today, he warned there were factors pointing towards a cyclical downturn.

“Meaning if you were master of a sailing ship, you would be busy getting your ship into the right order, to deal with some heavy seas ahead,” he told the online event held at the start of London International Shipping Week.