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Seafarers Employers’ Association releases first ‘Trends Report’ highlighting the difference in Shipowner and Shipmanager pay

The Seafarer Employers’ Association is a member’s ‘club’ for shipowners, ship managers, oil majors and manning agents, providing vital pay data for crew on all major vessel types. The pay reports are an essential tool to retain and attract crew, whilst remaining competitive in the current market.

The Association has been running since 2017 and providing Daily Wage Cost information for the sector, and most recently published its first ‘Trends Report’.

This report, shared with members earlier this year, compared year-on-year pay, pay from shipowners and shipmanagers, and pay for seafarers by nationality.

Across bulk carriers, crude, and chemical tankers, pay for Master’s and Chief Engineers were higher in shipowners when compared to shipmanagers.

Although, in the past few years we can see shipmanagment pay becoming more competitive. This is most noticeable in the bulk market where we have seen a 27% and 29% increase in Median Daily Wage Cost (DWC) payments for Masters and Chief Engineers respectively in shipmanagement organisations since 2020.

Of those nationalities and vessels reportable, Romanian Masters working on LNG vessels received the highest median DWC.

Overall, over the past 4 years, we can see an upward trend line across most ranks, nationalities, and vessel types.

We hear from members that there is a skills gap in the market for certain ranks, consequently retaining and recruiting skilled crew is more important than ever.

The next Seafarers Employers’ Association report is scheduled for publication in July 2024 and data collection is currently underway.

If you would like to take part in the 2024 report then please contact [email protected] for more information or view our website.

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