A small organisation with a world-class network

2007

Excerpt from
Annual report 2007

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Concordia Maritime’s activities are conducted in close cooperation with several of the companies in the Stena Sphere. This gives the company access to cutting-edge competence in all areas of shipping; from shipbuilding and manning to technical operation, commercial management, financing and marketing. Like most shipping companies, Concordia Maritime can be divided into a shore-based and a seagoing organisation. Concordia Maritime’s shore-based organisation consists of only a small number of employees; in 2007 two persons were employed in the parent company.

Seagoing organisation expanding again

With the vessels ordered now beginning to enter service, the seagoing organisation is expanding. In 2007, a further four vessels were deployed, mainly with crews and technical management contracted via Stenaowned Northern Marine Management (NMM). Each vessel is normally manned by a crew of 22, which meant that at the end of 2007, Concordia Maritime had 161 seagoing employees.

All seafarers are employed under the terms of ITF agreements (International Transport Workers’ Federation) or the Collective Bargaining Agreement for Deep Sea Trades. Personnel turnover was about 15 per cent.

An international labour market

Shipping is very much an international market, in terms of both business and competition, but it is also an international labour market for seafarers. The supply of trained and experienced seafarers is limited. A consequence of the good market in recent years is that the demand for experienced seafarers has risen sharply, which has resulted in salaries on the world market having risen more than expected. The supply of trained and experienced seafarers is limited and is expected to shrink still further due to, among other things, the large number of seafarers retiring in the next few years but also because it is estimated that some 1,500 vessels will be added to the number of vessels worldwide in the next four years. Consequently, being able to attract the best officers and most experienced ratings is dependent on having a long-term approach and a good reputation as an employer.

Continuous competence development

In addition to comprehensive international regulations, there are also strict internal requirements and routines for ensuring safety on board. In order to ensure that the customers’ quality, environmental and safety demands are met, the company works continuously on developing competence in both the shore-based and the seagoing organisation. Northern Marine Management has well-developed routines and processes for training and education, not least in issues involving safety and the environment.

The training activities it provides are both general and specially adapted for a specific vessel. The work on education during the year has, among other things, been focused on training the officers and ratings in the operation of the new ship type. The total cost of competence development during the year amounted to SEK 680,000, which is equivalent to SEK 4,000 per employee.

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