Intercepting the Global Supply and Demand for Seafarers in Marine Shipping

 

The current taskforce population of Seafarers serving on internationally trading merchant ships, around the world is estimated to be around 1,647,500 seafarers, of which 774,000 are officers and 873,500 are ratings.

China, the Philippines, Indonesia, the Russian Federation, and Ukraine are estimated to be the five largest countries currently the hub for global recruitment for all seafarers (officers and ratings). The Philippines is the biggest source of ratings, followed by China, Indonesia, the Russian Federation, and Ukraine. While China is the biggest source of officers, followed by the Philippines, India, Indonesia, and the Russian Federation.

The global demand for seafarers is estimated to be around 1,600,000, with the industry requiring approximately 795,000 officers and 755,000 ratings. This indicates that the demand for officers has increased by around 24.1%, while the demand for ratings has increased by around 1.0%.  The current supply-demand situation highlights a shortage of approximately 16,500 officers and a surplus of around 119,000 ratings. 

While the global supply of officers is forecast to increase steadily, this trend is expected to be outpaced by increasing demand.

The forecast growth in the world merchant fleet over the next ten years, and its anticipated demand for seafarers, will likely continue the trend of an overall shortage in the supply of officers. This is despite improved recruitment and training levels and reductions in officer wastage rates over the past five years.

The future outlook indicates that the industry and relevant stakeholders should not expect there to be an abundant supply of qualified and competent seafarers without concerted efforts and measures to address key manpower issues, through the promotion of careers at sea, enhancement of maritime education and training worldwide, addressing the retention of seafarers.

With such rapid progressions & advancements in the ever-changing field of technological innovations, Westline Shipping has introduced several revolutionary changes in maritime shipping, which also envelope the faculty of Careers in the Merchant Navy, adhered to many new introductions in training for Merchant Navy!