In general, there is a tremendous oversupply of credentialed mariners.
In some segments of the industry there is a glut of mariners that have the required credentials, but a shortage of mariners that have the actual knowledge and skills to do the job well.
In some segments of the industry there is a shortage of mariners that even have the right credentials.
For example: Although few, if any, credentials are required, there is a shortage of good tugboat deckhands, deckhand/engineers, and unlicensed engineers. Particularly, there is a shortage of young guys who intend to make career of it.
Another example: There are plenty of guys who hold Master of Towing endorsements, but I’d be surprised if even half of them have any real towing experience and ability. As the tugboat business recovers and us old guys retire, there are not enough young replacements with actual towing experience and ability.
There is also a lot of variation from one locality to the next.
The biggest factor is that most maritime jobs today simply do not pay enough to be competitive with other job opportunities and less demanding lifestyles. There is a pressing need for significant pay increases to attract young people into the industry, and to retain mid-career guys with good skills.
Nobody gives a damn one way or the other about us old guys on the cusp of retirement.