AGM Statement

Clarkson PLC
26 May 2004

                                  CLARKSON PLC

         CHAIRMAN'S COMMENTS FROM ANNUAL GENERAL MEETING ON 26 MAY 2004







TRADING STATEMENT



We have enjoyed considerable success during the first four months of this new
financial year.  Average freight rates, despite the recent falls from record
highs, remain well above last year's average levels.  Despite the negative
effects of a weaker dollar, profitability in the year to date is currently well
ahead of management's previous expectations.



Demand from China and the Far East, combined with logistical problems that have
restricted supply, resulted in dry bulk freight rates reaching record levels in
February and, although rates have fallen back during the last six weeks, the
average rates for the year to date are well above those for last year.



The recent review by OPEC of its production quotas in response to robust demand
has brought a significant boost to sentiment in the deep sea tanker industry.
Although there has been some fluctuation in tanker rates, averages  are at
significantly higher levels than last year.  Our commitment to a global approach
on behalf of our clients is helping us to expand our influence in all areas of
the tanker and gas transportation industries.



The sale and purchase division has experienced considerable activity in all of
its secondhand, newbuilding and demolition sectors.



Our customers are increasingly using forward freight agreements as an essential
tool of freight management.  This is benefitting the results of our futures
broking business.



Our commitment to research and publications, together with a renewed focus on
enhancing IT systems, will result in greater investment in these important areas
of our business.



Our logistics business, including Channel Freight Ferries where sailings started
in January, is performing broadly in accordance with expectations.



Clarkson's 25-year lease on its existing Camomile Street offices expires in June
2005 and the company has agreed a move to St Magnus House adjacent to London
Bridge on the river during the first quarter of next year.



The company is benefitting from high volumes of forward business contracted at
historically high rates, which will underpin this year's results.  Despite some
concerns about the economies of China and the Far East overheating, the outlook
for this year is very positive.'








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