Streamline, the maritime recruitment newsletter from the Faststream Recruitment Group.
A round-up of news from our commercial desks in the EMEA, Asia-Pacific and the Americas
Commercial Shipping - EMEA
“We feel optimistic about placing experienced candidates in a variety of commercial roles"
Despite the difficulties being faced in the general economy and across most sectors of the shipping markets,wefeeloptimisticaboutplacingexperienced candidates in a variety of commercial roles in Europe and the Middle East. Activity at the end of 2011 kept my team busy with people continuing to look for fresh challenges and companies hiring. There has been a brisk start to 2012 and there certainly isn’t the sense of pessimism amongst candidates that pervaded throughout much of 2009 and 2010 when many felt that times were too uncertain to risk a move. If a good offer comes up, then many good candidates are prepared to seriously consider it.
From a client perspective, the turmoil in the markets has meant that whilst some companies have folded, others have stepped in to pick up the business and therefore need to rapidly increase their headcount. A recent survey of Faststream clients revealed that half of them are planning on hiring commercial shipping staff for new positions over the next 12 months. Less than 10% say that their hiring plans are on hold. The biggest demand is for vessel operators and support staff for all vessel types.
We are also hearing from banks and other financial organisations looking for traders, charterers and brokers to run their commercial shipping operations. A number of banks are outsourcing the technical management of the vessels now under their direct control, but are keeping the commercial side of the business in-house. These organisations are very particular about who they take on and are prepared to pay well and offer great packages to entice the best.
Jennifer Curtis. Shipping Manager, EME
Commercial Shipping - Asia
“Operational support staff are moving jobs regularly to secure pay rises”
Like our colleagues in Europe, the commercial shipping team in Singapore is seeing particular demand for operational support staff, particularly in dry bulk. There is a relatively small pool of qualified people for these roles which means that salary levels are increasing and people are moving jobs regularly to secure pay rises. Owners, brokers and trading houses need to make sure that they treat their operations staff well and pay them in-line with the market, or risk losing them.
Whilst operational support staff are seeing their wages increase, senior commercial shipping people are experiencing a softening of salary levels. Freight rates are down and with the owners not making as much money, they aren’t prepared to pay new hires the salaries that they may have received back in 2007 - 2008. This has created an expectation gap and candidates are being slow in adapting to these pay levels.
Singapore continues to be the number one Asian choice for international shipping and chartering organisations. Indeed 90% of Faststream clients, who said that they were opening new offices or expanding existing operations in Asia, will be doing so in Singapore. The long term career prospects for commercial shipping people in Singapore remains bright.
Paul Ratcliffe. Shipping Team Leader, Asia
Commercial Shipping - Americas
“Our clients are increasing their American presence as we see more and more global companies shifting headquarters or opening and expanding offices in US and
Latin America”
Similarly to our counterparts in the EMEA and AsiaPacific regions, we too are experiencing a rise in demand for a variety of commercial roles. It appears that the dust has settled; downsizing has stabilized and the shipping companies who did not weather the storm have now been closed, acquired or merged.
We are hearing of expansion and growth plans from clients and as a direct result has led to a need to recruit commercial heads, managers, seasoned charters, brokers, demurrage analysts and traders who can help drive these organizations forward.
There have been some large mergers and joint ventures in the past year which have created new opportunities for mid-career commercial roles, predominantly in the northeast and GOM areas. As the hiring freezes start to thaw it is now optimism which surrounds the future growth of these areas. What was once a grim market overshadowed by the need to ensure job security, fear to make career moves, job losses and hiring freezes is now a broader and brighter picture for commercial shipping professionals. Our clients are also increasing their American presence as we see more and more global companies shifting headquarters or opening and expanding offices in US and Latin America. Companies such as Svitzer and Hansa are seizing the upturn of economic and market conditions to enhance their presence here around the country’s major shipping ports.
Leigh Evans. Commercial Shipping Recruitment Consultant Americas