Weaker markets have forced shipowners to slow down bulkers and container ships to record low speeds, according to figures from Clarksons Research.
Researcher Sarah Holden said vessel speeds are a key lever for companies to manage fuel consumption and costs.
The research arm of shipbroker Clarksons has been tracking speeds since the late 2000s and said they have been cut by between 15% and 30% in key sectors in that time.
