The Institute of Chartered Shipbrokers (ICS) is planning a new strategic direction after logging a surplus in its latest financial year.

Members of the professional body for the commercial shipping industry gathered at its annual general meeting in London on Wednesday, noting that finances continue to improve.

President Kevin Shakesheff, chairman and former managing director of Casper Shipping, welcomed a second consecutive year of positive financial results following a review of its fiscal and corporate governance structure, and investment in online training.