Seafarers Salaries Surged According To Danica Crewing’s Maritime Employment Survey

According to a recent survey by crewing specialist Danica, salaries for seafarers have increased by 10% since the survey’s two-year-old completion.

The results indicate that the market for crew employment is shifting in favour of seafarers, especially in senior officer ranks, where salaries have increased across nationalities by 10% to 15% since 2021.

Seafarers
Image for representation purpose only

Senior officers on dry cargo ships have had exceptionally rapid wage increases. According to the survey, abundant job offers give seafarers the freedom to choose carefully.

The salary difference between Filipino and Eastern European officers is getting smaller, but senior Indian officers on dry cargo ships are currently paid 10% more than their Eastern European colleagues.

The survey indicates that salary increases are the main factor influencing seafarers to switch shipping companies. The CEO of Danica Crewing Specialists, Henrik Jensen, notes that there is a pay spiral similar to what was seen before the financial crisis and attributes it to a lack of qualified seafarers and better financial circumstances for ship owners.

The survey also highlights issues facing the sector. Salary increases of 10% result from high demand for specific ranks, like fitters, cooks, and bosuns.

Due to a severe shortage, wages for Ukrainian fitters have increased by up to 30%. The survey indicates worries regarding the treatment of seafarers despite a rise in salaries.

A 7% increase since 2021 was seen in the percentage of respondents who said their wages were not paid on time, at about 36%. Furthermore, 8% said they had yet to receive their entire salary. It’s concerning to learn that 23% of sailors reported having trouble finding food or clean water on recent trips.

The survey provides a thorough overview of the current situation of the maritime employment market, according to opinions from 6,228 seafarers out of Danica’s database of 64,354 applicants.

However, in 2024, the upward salary trends might encounter obstacles as bulkers and container owners might have to make financial cuts due to shipping rate challenges. Jensen speculates that salary increases for seafarers may level out in the upcoming year.

The industry’s transition to alternative fuels may impact future salary dynamics and the need for seafarers skilled in operating vessels equipped with fuel-saving devices.

Jensen stresses the value of paying more to keep skilled workers on staff, particularly those trained to operate specialised machinery.

Reference- Splash

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