London-based shipping entrepreneur John Fredriksen late Wednesday night failed in his second bid to oust the chairman of Tui, the German travel and container-shipping group, whose strategy he has criticised for a more than a year.

Shareholders holding 65.5 per cent of capital represented at Wednesday’ annual meeting voted against a motion table by Mr Fredriksen to replace Jürgen Krumnow, head of the group’s supervisory board.