Seafarer Retention Rates Rise in 2024 Amid Salary Increases and Recruitment Challenges

Seafarer retention rates have shown improvement in the past year, with almost 90% of shipping companies increasing crew salaries in 2024, as per the latest Crew Managers’ Survey by Danica Crewing Specialists. The survey indicated that companies were more generous with salary hikes compared to the previous year, except for junior ratings. Despite better retention rates, concerns persist regarding a shortage of competent seafarers, as highlighted by industry experts. While fewer companies reported worsening recruitment in 2024 compared to the previous year, about 31% still faced challenges in hiring skilled crew members.

The survey, which collected responses from in-house crew managers at shipowning and ship management companies, revealed that salary increases were observed across different ranks. Senior officers saw a 75% increase in salaries in 2024, up from 63% in 2023. Similarly, junior officers and senior ratings (Bosun, Fitter, Cook) also experienced wage hikes. The survey indicated that over 50% of other ratings received pay increases in both 2023 and 2024, leading to a decrease in seafarer turnover.

While the industry has made strides in improving retention rates through salary adjustments, challenges persist in recruiting skilled professionals. The survey data highlighted that although retention had improved, many crew managers faced difficulties in finding experienced crew members capable of handling modern shipping demands. This shortage of competent seafarers is attributed to ongoing changes in the shipping sector and evolving crewing strategies. To address workforce shortages, more shipping companies are diversifying their recruitment strategies by recruiting from additional nationalities in 2024, up from 42% in 2023.

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