Faststream Says Maritime London is Hiring Again

MarineLink.com
Tuesday, September 10, 2013

London maritime business are hiring again, according to global shipping industry recruiter Faststream. The Southampton headquartered company reports that it has seen a 20% rise since the start of the year in vacancies for commercial positions across a range of business types including shipowners, insurers and consultancies.

“We sense that our clients are feeling much more positive about the future and are especially hiring people in business development and commercial roles. This is also having a spill-over affect in other areas with a rise in the need for people to fill business support functions,” said Faststream Group CEO Mark Charman. “Freight rates may still be low and business tough for many, but the volume of maritime related hires in the U.K. is much higher than it has been at any point over the past four years which is good news for us all.”

Whilst Faststream research shows that base salaries have remained static, bonus packages have increased. Typical bonuses for commercial roles within shipping companies now typically stand at 30-40% of salaries.

London is seen as an attractive location for non-U.K. shipping companies to set up a European base, especially Asian shipowners looking to develop their European presence. Faststream has worked with a range of overseas shipowning clients in recent months helping them to fill positions in the U.K. The depth of experience of the U.K. workforce in the maritime sector is huge and the city is well connected globally. The news that the mooted P3 alliance between container line operators Maersk, MSC and CMA CGM will have its headquarters in London, further cements the city’s status as the global maritime capital. Faststream has also seen a growth in the number of start-up companies providing niche shipping related solutions and equipment using London as a base from which to develop business.

London is seen as a very attractive location for British and foreign nationals alike to work.

“Europeans and Asians particularly like the idea of living and working in London, but are not always aware of the high cost of living here,” noted Mark Charman. “Companies are increasingly providing help with relocation costs to London. Companies whose packages are not in line with the rise in the cost of living will find it harder to attract candidates.”

However, despite the rise in vacancies in London, Faststream notes that Singapore is seen as the place which is perceived by many candidates to offer the most opportunities. “The increasing movement eastwards of shipping has opened up numerous opportunities, especially in the bulk markets. Employers in London know that they are competing with businesses in Europe and Asia for top talent.”

faststream.co.uk
 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ICC Conference Focuses on Platform to Settle Disputes

The 5th ICC International Commercial Mediation Conference has brought together leading mediators, arbitrators, corporate managers and in-house counsel from around

Keystone XL Costs to Nearly Double - TransCanada

The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday.

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Finance

Nigerian Minister Pledges $1.3 bln for Power Companies

Nigeria's oil minister announced a 213 billion naira (1.3 billion US dollar) bail-out package for power companies on Saturday, nearly a year after the sector was privatised.

Russia's Yamal LNG Project May Tap Wealth Fund in 2014

Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies.

ICC Conference Focuses on Platform to Settle Disputes

The 5th ICC International Commercial Mediation Conference has brought together leading mediators, arbitrators, corporate managers and in-house counsel from around

News

Greek Ferry with Bulgarians On Board Sinks near Corfu

A Greek ferryboat with Bulgarian passengers on board has suffered an accident near the island of Corfu. The ferry was traveling from Italy’s Ancona to Patras

Japan's Minister Says Energy Policy Without Nuclear Difficult

Japan would find it difficult to formulate an energy policy without nuclear power given its lack of energy resources and the high cost of utilities for companies and households,

Nigerian Oil Workers Call Off Strike After Talks with Government

Nigerian oil workers' unions have called off a four-day strike after reaching a deal with the government in a dispute over pensions, they said on Saturday. A

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1563 sec (6 req/sec)