James Hughes-Hallett, the former chairman of Hong Kong’s Swire Group and Clarkson, has died after a long illness at the age of 70.

Educated at Eton and Oxford, Hughes-Hallett joined the diversified trading and transport Swire group in 1976 and rose to lead it for 10 years from 2005. He became chairman of the London-listed shipbroker in 2015.

Ill health forced him to step down from leading Clarkson in 2018 although he continued as a non-executive director.

Hughes-Hallett was made a companion of the Order of St Michael and St George in 2012 in recognition of his career in business. However, was also a philanthropist and supporter of the arts, serving as chair of the Courtauld Institute of Art between 2012 and 2017.

Andi Case, Clarkson chief executive officer said: “James leaves behind a great legacy in our company. His stewardship and advice to me personally was a great support, and I feel extremely privileged to have acted as Chief Executive Officer during his tenure.

“He will be greatly missed by all at Clarksons, as well as throughout the wider shipping industry. Our thoughts are with his family at this sad time.”

Clarkson’s current director, Bill Thomas added: “The board will remember James for his great leadership and passion.

"Even whilst suffering from his illness, James remained dedicated to Clarksons, continuing to serve on the Board as a non-executive director and committee member, and we remain indebted for the invaluable guidance he provided.”

The family are to hold a private funeral, with a thanksgiving service in London at a later date.