“We are not speculators; we are not there to get in and out. We are there for the long term and I am very happy to say we have managed to gain a very good record over these years,” he said.

W Marine has all but one of its existing ships on short to medium period charters. Only the 93,000-dwt W-Ace (built 2011) is fixed to Cosco up to the start of 2017.

“You