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Oil tanker fleet outlook.

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  • Oil tanker fleet outlook.

    I work for NMM in their oil tanker fleet and recently got an email saying my contracts will be moving from 3-4 months (before that pesky +\-1) and days off will be dropping from 22-18 a month as 3/O or 4/E with a British passport which they say is due to their clients dropping budgets.

    Obviously this has got me thinking... so has anyone else working for other companies been told anything similar in the recent past? Or anyone with more knowledge than me that wants to chime in I’d be happy to here it.

    Im basically trying to figure out if this reduction is representative of the whole oil tanker fleet market or is this a representation of my employers performance.

  • #2
    Are there any changes to the salary?


    • #3
      Coming from a shoreside background...

      This is a pretty bold statement of them to make. Oil shippers are looking up just now - markets are strengthening and freight rates are rising. So it really depends on whether or not you are working on an owned (for NMM = Stena) or managed ship. If owned, then things SHOULD be good. If managed, the managers will still wanted to squeeze every drop of profit out. Bear in mind though that just because a ship appears to be 'owned' it is very possible that it isn't. Worth noting that Stena are performing very well - I understand that NMM have taken a bit of a battering with the ferries moving out of management and the Gener8/TI fleet going last year too. Navigator are taking their own ships into management so things may well be tight in Clydebank but who knows really.

      It really depends on the outlook of the company management. Hiring and Indian of Filipino 3rd Mate is likely going to save the tune of 50% compared with a Brit. So to me it is really no surprise that they are doing this to save money. Same with Maersk. No matter how hard they insist that it is Brexit's fault - they're cutting UK cadets to save cash. Whilst this might be 'bad' to UK seafarers, it's really a perfectly sound business decision. IMHO there should be some sort of protectionism to the British shipping fleet to prevent this spreading further than it already has. There are NO good reasons to take Brits over anyone else in the world. People might argue that training standards are higher here (I personally agree with this) but thanks to STCW ship owners couldn't care less.The savings that stand to be made by cutting crew won't be outweighed by potential shortfalls with crew quality. And I have to say - there are many outstanding crew from all over the world.

      For your contract - have you tried speaking to the Union? I would suggest it's unreasonable to change your contract once you've already signed etc.. Certainly should allow you to break cleanly - perhaps get a settlement payment. But that's a legal argument.


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