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Date: 08/06/2023

Seafarer labour market tightest on record

Officer supply shortfall has reached a record high and is not expected to improve, leading to manning cost inflation, according to the latest Manning Annual Review and Forecast report published by global shipping consultancy Drewry.
 
The 2023 officer availability gap has widened to a deficit equating to about 9% of the global pool, which represents a marked rise from last year’s 5% shortfall and the highest level since Drewry first started analysing the seafarer market 17 years ago. Similar deficit levels are forecast for 2023-2028 based on the limits of new seafarer supply becoming available in the period. While these deficit levels are based on vessel numbers together with assumptions on crewing levels and so largely theoretical, they clearly indicate that the seafarer labour market has become particularly tight, with important implications for recruitment and retention as well as manning costs, said a release.
 
source: Exim News Service; London, June 7 



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