Shipping industry pay scale review show half receiving 5pc increases

THE latest UK-based Faststream Maritime Employment Review, based on responses from 4,000 shipping professionals, shows 30 per cent suffering drops in salary over the last 12 months and half reporting increases averaging five per cent.

The report revealed that average salaries for master mariners working on passenger vessels remained the highest at US$153,000 per annum. Asia-based ship operators and shipbrokers revealed a pay gap against its European counterparts of 20 per cent.

Shore-based workers suffered a nine per cent decrease in salary. Additionally, the longer the tenure at sea the more likelihood of salary progression for those who swap sea for shore jobs during their career, added the report.

Faststream Group CEO Mark Charman said despite poor vessel earnings and rising costs against stringent regulations, salaries are in the main going up. But skill shortage continues to trouble the sector with fewer highly qualified people available.

"This is both the legacy of a lack of training in the 1980s during the previous downturn and the often perceived low status of jobs in the shipping industry," he added.