Following on from our February 2009 report looking at the job market for shipping related technical roles, this Faststream report looks at the commercial end of shipping. We have taken an in-depth look at roles such as chartering managers, shipbrokers, claims executives and analysts and examine what has actually been happening on the ground and sentiment in the marketplace between October 2008 and May 2009.
As the shipping market’s leading recruiter, we compile data on the people we have placed, their salaries, incentive packages and age profile. Our offices in Southampton, Oslo, Houston, Fort Lauderdale, Massachusetts and Singapore have been busy placing candidates throughout the industry. 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.
Companies are continuing to make critical hires and there are still jobs available for experienced commercial people. Salaries remain stable and there appears to be a general feeling that perhaps the worst is over. However in 2009 few people will expect their bonuses to be anywhere near the levels of the last few years. A good indicator of the health of the market has been the fact that Faststream itself continues to grow with more recruiters in all of our offices managing a greater workload. Yes, we are one step ahead of our competitors and yes, third party recruitment is growing in popularity in the shipping sector, but still the shipping market continues to provide many opportunities for experienced and commercially minded individuals.
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PDF Ebook Commercial Shipping Employment Market Review
