Spinnaker is delighted to have published their 8th Seafarer Daily Wage Cost Report.
The reports calculate the cost of filling a berth on a vessel using values for both salaried and unsalaried (paid only whilst at sea) seafarers with varying rotation patterns.
This daily wage cost can easily be multiplied up to provide monthly or annual figures.
Even in these unprecedented times, the reports have continued to grow and now provide data for even more nationalities for container, chemical tankers, crude tankers, LNG, LPG and cruise ships than in previous reports.
Spinnaker is also able to carry out further analysis based on this daily wage cost data such as:
- Targeted peer group benchmarking
- Ship manager or ship owner reports
- Summary reports for senior or junior officers
Phil Parry, Chairman of Spinnaker, explains that “Benchmarking enables people to understand how to plan budgets and demonstrate to their staff, and to their staff’s unions, that they are paying fairly”.
He added “Benchmarking is not necessarily about paying the most, or paying the least, it is enabling people to understand where they are paying relative to the marketplace”.
Analysing the data at Spinnaker is reward manager Sandra Briegoos, who highlighted some key numbers. Spinnaker data shows that since 2017 there has been a 2% to 7% increase in pay for senior officers on chemical, crude oil and product tankers, compared to a 3% to 6% increase for those in the bulk sector. Spinnaker also noted that the majority of companies review pay annually.
The full report is available exclusively for participating members of the Seafarer Employers’ Association. If you would like to know more about joining and accessing this data, please contact Helen McCaughran at [email protected] or call +44 (0) 1702 595 302