The ITF has set the benchmark rate – which lays out the monthly payment for an AB on a vessel covered by an ITF TCC (total crew cost) agreement – for the next three years, the Federation said Friday.
Currently USD1675 per month, the benchmark will increase 2% from 1st January 2012 to USD1709; then the following year by 2.5% to USD1752, then rise by 3% to USD1805 in 2014.
The decision was made by the ITF’s fair practices steering group.
ITF maritime coordinator Steve Cotton commented: “We feel that there is now enough economic progress in the industry to justify an increase. The benchmark applies not just to those under TCC agreements, but also stands as an example that is widely taken notice of throughout shipping, so we are glad to set out this progressive improvement in what seafarers earn.”
Currently USD1675 per month, the benchmark will increase 2% from 1st January 2012 to USD1709; then the following year by 2.5% to USD1752, then rise by 3% to USD1805 in 2014.
The decision was made by the ITF’s fair practices steering group.
ITF maritime coordinator Steve Cotton commented: “We feel that there is now enough economic progress in the industry to justify an increase. The benchmark applies not just to those under TCC agreements, but also stands as an example that is widely taken notice of throughout shipping, so we are glad to set out this progressive improvement in what seafarers earn.”