Maritime Salary Statistics by Rank and Experience

Old ships stay at sea as recycling hits a historic low

Ship recycling activity has remained at its lowest sustained level in more than 50 years, while the number of ageing vessels continues to grow. In the first nine months of 2026, only 273 ships, with a combined gross tonnage of 5.5m gt, were sold for demolition.

Record pay offered to tanker crews taking Hormuz risks

Tanker crews are being offered huge bonuses to sail through the Strait of Hormuz as the risks at sea continue to grow. Some tanker masters can now earn up to $100,000 a month, plus $50,000 for each transit.

Wallenius Wilhelmsen plans up to 12 more LNG Dual-Fuel car carriers

The new LNG ships will add to Wallenius Wilhelmsen’s fleet renewal programme. The company’s existing Shaper-class programme at China Merchants Jinling includes 14 vessels, with different ships using LNG or methanol dual-fuel technology.