Shipping has just come off its best first quarter for 13 years, and momentum suggests more growth ahead.
Clarksons Research said more positive sentiment has been developing across many sectors, with the ClarkSea Index "laying down a marker" after the best opening three months since 2008.
The index, which combines tanker, bulker, containership and gas carrier earnings, averaged $17,461 per day to 31 March, even though the first quarter is traditionally seasonally weaker than the rest of year.