Shipping markets have begun 2022 more strongly than in any other year on record, according to Clarksons Research.

The UK research company identifies trade recovery, severe congestion and modest fleet supply growth as boosting rates, while the impacts of the Ukraine war are also starting to feed through.

Analyst Sarah Holden called 2021 a remarkable year, and said the positive earnings environment has continued so far in 2022.

“While demand-side headwinds are building, a range of supportive drivers — e.g.,