BRS Group chairman Francois Cadiou fears shipping is regressing in its race to decarbonise.

Writing in the French shipbroker's annual review, he said heavy fuel oil (HFO) should be “banished” from the industry, but instead some shipowners are turning back towards it.

“It must be admitted that the continued use of HFO will slow down the transition to cleaner fuels at precisely the point in time when it should be accelerated,” the broker added.