gCaptain dedicated sponsor and shoreside and now-seagoing recruitment firm Faststream has recently released it’s Commercial Shipping Employment Market Review for the period October 2008 - May. The review eyes key roles in the commercial side of shipping such as chartering managers, shipbrokers, claims and executives.
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.[/I]
[I]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.[/I]
Also be sure to visit gCaptain’s Maritime Employment Site