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Maritime Research

Manning Annual Review and Forecast 2021/22

Annual Review and Forecast

May 2021

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Comprehensive analysis of seafarer availability and manning costs

Manning Annual Review & Forecast Annual 2021/22 provides one of the most complete annual assessments of vessel manning costs available in a single source. Seafarer cost assessments, trends and employment terms are provided for 38 representative ship types, spanning the chemical, container, dry bulk, general cargo, LPG, LNG, offshore, oil tankers, reefers and RoRo sectors. The report also examines current and projected supply and demand for seafarers and the likely impact on skills requirements and wage costs.

  • Benchmark crew wages and employment terms - Officer wage rates 2011-2021 and voyage length/leave by nationality covering container, dry bulk, LNG and tankers
  • Crew budgets - Crewing budgets including wage, victualing, travel and miscellaneous costs, for 38 different vessel types & sizes covering the chemical, container, dry bulk, general cargo, LPG, LNG, offshore, oil tankers, reefers and RoRo sectors
  • Employment terms & 5-year cost forecasts - Trends in terms and conditions of service, including voyage length and leave, as well as manning cost forecasts covering the period 2022-2026
  • Seafarer supply – Latest trends and projections for seafarer supply, including assessments of key drivers such as occupation and wage rate attractiveness relative to shore-based roles, with forecasts of officer supply to 2026
  • Seafarer demand – Latest trends and projections for seafarer demand, including assessment of key drivers such as fleet development by sector, on-board numbers and backup ratios, with forecasts of officer demand to 2026
  • Global seafarer supply and demand – Complete analysis and projections for seafarer availability, together with implications for different vessel sectors and overall wage levels, as well as forecasts to 2026
  • Country analysis - Seafarer supply 2014-2021, 2021 wage rates breakdown across 10 pay grades, premium rates, pay relative to shore-based roles, seafarer reputation and market sentiment. Data covers Bulgaria, China, Croatia, India, Latvia, Philippines, Poland, Romania, Russia, Ukraine and UK
  • Rising seafarer supply regions/countries: Analysis of emerging sources of seafarer supply in Africa and South East Asia. Data covers Indonesia, Myanmar and Vietnam
  • Impact of Covid-19 pandemic on manning: Analysis of impacts on seafarer mental health, future seafarer supply, cost implications and mitigation options

More Information

Fast facts...

 

  • All-encompassing global study based on surveys covering approximately 40,000 officers serving on 3,000 deepsea vessels
  • Manning cost assessments and budgets by nationality across 38 vessel type/ sizes
  • 10-year historical time series and 5-year forecasts of manning costs
  • 5-year projects of seafarer supply and demand
  • Country profiles of the top 11 suppliers of seafarers
  • All report tables, charts and graphs provided in MS Excel format
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News

Officer shortfall to reach decade high by 2026

Officer shortfall to reach decade high by 2026
Diminishing attractiveness of a career at sea, coupled with rising man-berth ratios and continued fleet growth will lead to the highest shortfall of officers to crew the world’s merchant fleet in over a decade by 2026, with important implications for both hiring and future manning cost inflation, according to Drewry’s latest Manning Annual Review and Forecast.

Reefer container freight rates soar but remain outgunned by dry box rates

Reefer container freight rates have risen sharply this year but remain far outgunned by the inexorable rise in dry box pricing, according to Drewry’s newly launched Reefer Shipping Forecaster report.

Drewry and Freightender partner to bring all-in-one ocean freight procurement e-solution to medium sized shippers

Drewry and Freightender announce they have entered a value-add partnership, combining Drewry’s industry leading ocean freight cost benchmarking and procurement support services with Freightender’s cloud-based, next generation procurement technology platform.

Multipurpose earnings rally at risk from overordering in competing sectors

The rapid recovery in earnings for multipurpose vessels is expected to slow from the second half the year as capacity constraints and supply chain disruptions in competing sectors ease, according to Drewry’s latest Multipurpose Annual.

Events

LNG shipping market outlook

Join us at 09:30 BST on Tuesday 13 July 2021 to explore some of the key findings from our latest LNG Forecaster report. Hosted by Aman Sud, Lead Analyst – Gas Shipping at Drewry and Santosh Gupta, Assistant Manager at Drewry Maritime Financial Research.