The global economy continues to be demanding especially on shipping. Some markets experience improvements filtering through after hitting rock bottom 2016. We are still below trend levels and forecasts remain dark. Despite this, technical and operational aspects are rapidly changing with digitalization, automation, block chain, even a touch of artificial intelligence, environmental improvements and other tech processes. Our seafarers today more than ever need new approaches for skills development, be compliant with STCW and competitive.
As we cope with these developments, the Philippine Seafaring and Manning Industry is embattled at different fronts with local regulatory issues. The EU threat of not recognizing our certificates, legal claims, cost of doing business in the Philippines amongst others. Recent data of POEA, seafarers' deployment indicate a decrease a significant decline. Foreign principals have shifted to other seafarer nationality sources, this is attributed to the increasing number of legal claims and bureaucratic issues. Not to mention health concerns. We need to work with our social partners in tripartite and stay the course for stability of FAME so we can weather the poor industry outlook.
Fair winds and following seas.
ATTY. RODELLO B. ORTIZ
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