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Review statements
Chair's review
As I reflect on 2025, it is clear that this has been a year defined by extraordinary geo-political and economic complexity. The global business environment was shaped by heightened uncertainty, with the first half of the year marked by significant political shifts, escalating tariff regimes, and the increase in use of sanctions by government authorities. These dynamics created a period of significantly reduced activity across many industries, with companies facing unprecedented challenges in decision making and market engagement.
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CEO's review
2025 was a year that tested the resilience and adaptability of the global shipping industry like few before it. I am immensely proud of, and deeply grateful to, my colleagues across the world for their unwavering commitment and exceptional contributions during a period of extraordinary complexity and, accordingly, opportunity.
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Financial review
As I present the Financial review to shareholders for the final time, I would like to express my gratitude to all the outstanding colleagues I have had the pleasure to work alongside over the past two decades. I am equally grateful to the Board and to our shareholders for their trust and support throughout my tenure. It has been a privilege to serve as CFO since 2006, and to contribute to the Group’s evolution into the market-leading business it is today.
Read moreThrough our unique combination of unparalleled expertise and cutting-edge intelligence, we work in partnership with our clients to help them stay ahead of emerging challenges and seize opportunities as they arise.
The maritime industry has always found original and innovative ways to overcome challenge and embrace change. We continue to invest in our strategy, enabling us to anticipate and adapt accordingly. Building on our strong performance, we are always evolving our offering to ensure our solutions deliver results.
Focused on our strategy
Expanding our breadth
The acquisition of Euro-America Shipping & Trade, Inc. (since renamed Clarksons EAST LLC) in March 2025 marked an important step in strengthening the breadth of our integrated offer. By entering the US government agency market, we have broadened our client base and enhanced our ability to deliver specialist shipbroking services for governmental and humanitarian requirements. With the Washington D.C. team now fully connected to Clarksons’ global expertise and resources, clients gain a truly integrated solution – combining local insight with worldwide capabilities to meet complex, mission-critical needs.
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Extending our reach
We welcomed Bruna Carvalho as Managing Director of our Brazil office. Bruna’s leadership is helping to drive forward opportunities across the region’s accelerating markets. Across the year, the region has seen an uptick in new participants in the dry cargo market, a substantial increase in oil production boosting tanker demand, and new licensing that paves the way for offshore wind projects. By strengthening local expertise and capabilities, clients benefit from on-the-ground insights and seamless access to opportunities across South America.
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Stronger understanding
We continue to enhance our derivatives capabilities to meet clients’ evolving needs across established and emerging markets, including fuel oil, container FFA, battery metals and renewable products such as biomethane. The appointment of Sander Bots as the business’ COO underscores our commitment to continually develop and optimise client-focused solutions. The acquisition of Zuma Labs demonstrates our commitment to technology-enhanced engagement, growth, and delivering on the evolving needs of all market brokers and their clients in an increasingly complex global trading environment.
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Empowering people
Our Broking teams are increasingly empowered to reach their full potential through the digital tools and expertise available to them. With dedicated support from our Digital Empowerment team, brokers and analysts are able to tap into technology-driven solutions that streamline workflows and unlock greater value from the rich data and insight across desks. Rapid development tools are already enhancing decision-making, boosting efficiency, and giving our people the confidence and capabilities to deliver exceptional client service – ultimately elevating performance across the business.
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Maintaining trust
In 2025, we welcomed Bart Bream as Group Chief Technology Officer to drive and scale our technology strategy and accelerate the business’ digital capabilities. Bart’s expertise and hands-on approach is already delivering tangible benefits – from enhancing internal technology platforms and optimising resource structures to shaping external partnerships and client-facing solutions. These initiatives are not only strengthening our offering but are also safeguarding and elevating the trust clients place in our shipping intelligence.
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Growing our business
Now in its 23rd consecutive year, our progressive dividend policy demonstrates the strength of the Group’s balance sheet, strong free cash generation and ability to deliver consistent shareholder returns.
DividendsPerformance highlights
£631.4m
Revenue
2024: £661.4m
£86.7m
Reported profit before taxation
2024: £112.1m
112.0p
Dividend per share
2023: 109.0p
Strong growth
We are a consistently profitable and cash-generative business.
Momentum
We continue to invest to build on our position as the market leader across our core sectors.
Experience
We provide best-in-class advice and service to all our clients by having the best people.
Track record
This is our 23rd year of consecutive dividend increases.
MARKET TRENDS
Seeing the bigger picture
CASE STUDIES
Highlights of our impact in 2025
Amanda Auld, Senior Marketing Manager, chairs the Women of Clarksons Network.
“Clarksons is a unique place to work. It’s full of talented people who genuinely care about doing their best work, and that’s something I value. At the same time, it’s a very male‑dominated industry. As we started connecting with more women across the business, we realised how valuable those conversations were. The idea of starting a women’s network grew from there and the response was positive.
Read the rest of the interview on page 50 of the 2025 Annual Report
As the IMO continues to deliberate on mid-term measures, global
decarbonisation signals remain fragmented, tempering near-term fleet investment in alternative fuels. However, momentum is shifting toward commercially driven transition pathways. The expansion of carbon capture and storage is creating a structural growth market for liquid CO2 shipping, positioning the maritime sector as critical infrastructure enabling industrial decarbonisation.
How do the Employee Voice Forum sessions work?
The sessions are an opportunity for our employees to share their views with the Board on their experience of working for Clarksons. We invite a cross-section of both junior and senior employees to join from different business areas, sometimes with a focus on a specific topic, for example to share their onboarding experience. Over the last few years, we have strived to hold these in overseas locations, as well as in London which is our biggest office.
Read the rest of this interview on page 86 of the 2025 Annual Report
Mark Brookes, Divisional Director, shares what the annual Charity Giving Day meant to him.
“After my own experience of prostate cancer and the challenges of treatment, the importance of early detection and open conversations about men’s health became very real to me.
Read the rest of this interview on page 53 of the 2025 Annual Report.
Clarksons has also partnered with the Maritime and Port Authority of Singapore (‘MPA’) and the Singapore Maritime Foundation to host the MPA Global Internship Award programme. This 12-week initiative provides students with hands-on experience in our broking business, including an overseas placement.
Read more on Internships and Apprentices on page 52 of the 2025 Annual Report
Our annual Global MDs Week is the key strategy-setting forum that brings together senior management from across our global group. The event provides employees with the opportunity to hear directly from the CEO and CFO & COO regarding the Group’s strategy and the market context, as well as to interact with their colleagues and voice their own views in focused but informal sessions.
Read more on our Global MDs week on page 50 of the 2025 Annual Report.