Carriers

CEO: Ship management is racing to the bottom at the expense of employees

Large ship management companies are pushing their seafarers as hard as they can on pay and conditions, says CEO of Reederei Nord - institutional investors are part of the explanation.
”The ship management industry has created an environment where seafarers are just replaceable, they are just numbers which you have to provide as easily as possible and pay them as little as possible to have your margin,” says Kurt Klemme, CEO, Hamburg-based Reederei Nord. | Photo: Reederei Nord
”The ship management industry has created an environment where seafarers are just replaceable, they are just numbers which you have to provide as easily as possible and pay them as little as possible to have your margin,” says Kurt Klemme, CEO, Hamburg-based Reederei Nord. | Photo: Reederei Nord
by JENS THOMSEN

The globalization of world trade and years of crisis in container shipping have created a race to the bottom for seafarers in international shipping - aided and abetted by large, heavy-handed ship management companies and institutional investors.

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