Subscribe to RSS feedReturn to growth to lift wages
CREW wage costs are likely to increase sharply as shipping markets return to growth and the imbalance in supply and demand for officers reappears, according to the latest ship operating costs report by Drewry Shipping Consultants.
The report says following soaring wage levels in late 2008 and 2009,wage trends flattened as economic growth stalled. However, as growth returns the manning imbalance “will drive wages up”.
Drewry’s report says overall ship operating costs fell by an...
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