PTC proudly affirms its commitment to advancing the welfare of seafarers, as PTC CEO Gerardo A. Borromeo, who also serves as a Board Member of the International Chamber of Shipping (ICS), participated in the landmark wage negotiations recently concluded in Geneva, Switzerland.

Held on April 14-15, 2025, the meeting of the Subcommittee on Wages of Seafarers of the Joint Maritime Commission (JMC) brought together representatives of shipowners and seafarers' unions from around the world under the auspices of the International Labour Organization (ILO). The negotiations, led by ICS and the International Transport Workers’ Federation (ITF), culminated in the adoption of a resolution updating the global minimum wage for able seafarers—a wage framework formally recognized since 1958 and unique to the maritime industry.

The newly agreed-upon minimum wage increases will take effect as follows:

These updates represent a cumulative increase of more than 6% over three years, building on the previous agreement set in September 2022. This progress underscores the global maritime industry’s shared commitment to ensuring decent work and sustainable livelihoods for seafarers, who are the backbone of international trade.

“This agreement strikes a careful and considered balance between recognizing the vital contribution of seafarers and maintaining the commercial sustainability of the global shipping industry,” said Mr. Pål Tangen of the Norwegian Shipowners’ Association, spokesperson for the shipowners. Meanwhile, Nautilus International’s Mark Dickinson, speaking on behalf of the seafarers’ group, emphasized, “We have taken a further step to improve their welfare through pay rises that both retain and increase the value of the ILO AB minimum wage.”

Echoing these sentiments, ILO’s Sectoral Policies Department Director Frank Hagemann noted, “The outcome of this wholly unique global collective bargaining forum represents more than just a technical adjustment to the minimum wage. It reflects a shared responsibility and commitment to uphold decent work at sea.”

As tensions in global trade continue to evolve, PTC remains steadfast in its advocacy for the fair treatment of the nearly two million seafarers who keep world trade moving. The company takes pride in contributing to efforts that protect and empower maritime professionals, ensuring that their role as essential workers is recognized, respected, and properly rewarded.