Matt Skelton believes he can still fulfil his ambition of winning a version of the world heavyweight title despite his comprehensive points defeat to Ruslan Chagaev, the WBA champion, in Germany last night.

The 40-year-old from Bedford produced arguably the best performance of his career but was still no match for the Uzbekistani, who won a unanimous decision, 117-110, 117-111, 117-111.

Skelton, who only turned professional six years ago and had no amateur experience, says merely fighting for a title once held by the likes of Muhammad Ali and Rocky Marciano will never be enough. "Unfortunately I missed the top of the mountain," Skelton said. "I was there looking at it and I wanted to reach the pinnacle. I wanted it so much and I'm gutted I didn't make it.

"People tell me I've achieved a lot in six years but it doesn't matter if a million people tap me on the back and say well done, because I lost the fight. I've got to hold my head up and carry on. The dream hasn't died. Hopefully I can get another title shot. I've got to sit down and discuss it and I won't do anything rash. People are looking at it because of my age, but I've got no intention of giving up."

Skelton, weighing in just under two stones heavier than his opponent, used his physical bulk and spoiling tactics from the start and clearly managed to unsettle a champion who never really found top gear. But despite taking an early points lead, Skelton's punches frequently failed to find their target while Chagaev, who boasts the best left-hand counter-punch in the business, relentlessly struck home on the side of the Briton's face.

In beating Russia's Nikolai Valuev to claim the title last year, Chagaev had already proved adept at overcoming bigger men, and Skelton lacked the skill to turn the fight back in his favour. But the man who stunk the place out last July in scoring a dreadful majority points decision over Michael Sprott performed admirably and showed great heart to hang around until the final bell.

Skelton was forced to hold for the first time in round five as the effects of two big lefts from the man nicknamed the 'White Tyson' thundered home, but he responded well by roughing up Chagaev in the sixth.

Bleeding from the nose at the start of the seventh, Skelton was nothing if not game, although he incurred the wrath of the referee in the eighth and was deducted a point for holding. By then Chagaev was well in control, although a predictably wild final round left the champion also bleeding but there was no doubt about the result as the pair embraced warmly and waited for the announcement.

"I let it slip away from me in the latter rounds," Skelton said. "I fought the right fight early on but it slipped away. His experience at this level told and I just couldn't get it back. He doesn't waste a lot of shots. He's very strong and accurate and he fights in bursts. He was very determined and showed a good heart. But I'm just so disappointed I couldn't pull it off."

Chagaev, who will now target a unification against the winner of the upcoming fight between Vladimir Klitschko and Sultan Ibragimov, the WBO champion, paid tribute to his opponent. "Skelton fought exactly the way I thought he would fight," Chagaev said. "He's big and strong and he's got a big heart. He's a good fighter but I'm happy with my performance and now all that matters to me is unifying the titles."

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