Seafarer wage rates are set to accelerate in the face of worsening officer supply / demand imbalance. Sustained fleet growth will lead to the highest shortfall of officers to crew the world’s merchant fleet in over a decade by 2027, with important implications for both hiring and future manning cost inflation, according to the latest .
Diminishing attractiveness of a career at sea, coupled with rising man-berth ratios and continued fleet growth will lead to the highest shortfall of officers to crew the world’s merchant fleet in over a decade by 2026, with important implications for both hiring and future manning cost inflation, according to the latest Manning Annual Review and .