Seafarers set to receive 4.5% pay increase

Chamber of Shipping > Blog > News > International > Seafarers set to receive 4.5% pay increase

Seafarers will be getting a pay raise of 4.5% over the next two years after striking a deal with maritime employers represented by the Joint Negotiating Group (JNG). The International Bargaining Forum (IBF), which brings together the seafarers represented by the International Transport Workers’ Federation (ITF) and the JNG, has agreed to an increase on wages and compensations of 3% from January next year and another increase of 1,5% from January 2023. The agreement was also reached for an increase in JNG members’ rebate from the ITF Welfare Fund to 20% to contribute to the IBF Seafarers Support Fund. The negotiations were particularly challenging due to the profit variations in the industry, as well as the increased operational costs due to the pandemic. However, both parties acknowledged the need to recognize the sacrifices that seafarers have made during the pandemic, continuing to keep global trade moving whilst unable to return home following the expiry of their contracts, and receiving no wage increase in 2021.

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