Opportunities still available for experienced commercial shipping people
The latest Faststream employment report has revealed that base salaries for experienced shipbrokers are up, but bonus expectations down. On average an experienced shipbroker placed by Faststream between October 2008 and May 2009, was hired for a basic salary of £77,240. Despite the poor markets, companies are still continuing to make critical hires and jobs are still available for experienced commercial people.
Faststream Group Managing Director Mark Charman (picture below) notes:
“ The picture which has emerged is a mixed one and perhaps not as pessimistic as might be expected in the midst of a global recession and a collapse in vessel earnings across all asset types. There has not been a huge wave of layoffs as there has been in the financial services sector. However we believe that these numbers could increase over the next two quarters of this year as the results of the previous six months turmoil come to the surface. But still companies are all too aware of the importance of experience and understand the need for safe hands to guide them through turbulent times.”
The report also notes that the market for good chartering managers - whether for shipping companies or cargo interests - remains tight. There continues to be demand for good and experienced chartering managers with an eye for detail. Contracts are being scrutinised more closely than ever and experience counts for a great deal in this area. Salaries in this sector remain stable with the average in-house charterer placed for close to £75K plus bonuses.
To view the full edition of Faststream's latest Summer 2009 Maritime Employment Review, please click here.