Seafarer remittance of USD 400 Mn to treble by 2026
Sri Lanka currently generates around USD 400 million from seafarers remittances annually and with more openings to them this number can be trebled by 2026 said Founder, Managing Director of Centrum Marine Consultancy, Kalinga De Silva at the unveiling its new headquarters “Centrum Haus” at R. A. De Mel Mawatha, Colombo 03.
He said currently there is a demand, shortage of around 147,000 seafarers immediately in the world for the next 2 years. However Sri Lanka only has around 16,000 seafarers and the country must look at increasing this number soon. “If Sri Lanka can fill a share percentage of this global demand the country would be able to attract between USD 1.5 billion to two billion remittance revenue in the next 3 years.”
He also said that in addition to many logistic issues the lack of knowledge of youth towards the profession and some cultural barriers (downgrading the profession of seamen) does not see many engaging in the profession. “Over the years Sri Lanka has proven to be a dependable and versatile recruitment resource when it comes to sourcing some of the best talent in seafarers.’
Robust infrastructure in Maritime education and training systems ensure that Sri Lankan seafarers are widely considered to be world class.
“But if you take the profession of a doctor he/she takes around 6 years to earn USD 500 million after completing his education and training, but a seafarer with a pass from a 8 month training course and 4 months waiting period, can start earning around 500 USD in just one year!
Minister of shipping and aviation Nimal siripala de Silva who was the chief guest at the event said that the government too knows the potential of grooming seafarers, but said that they have logistical issues.
“Currently through government institutions like Mahapola have produced around 500 trained seafarers, they are unable to take off to the next step. This is because they are unable to do their onboard practical tests as Sri Lanka doesn’t have ships to train them to gain practical training.”
The Minister said that he met some cruise ship officials yesterday and found out there are around 8,000 vacancies in their ships for trained leisure sector staff.
“We are trying to supply youth for these vacancies.”
The Minister also said that the local shipping industry also wants to get to the next level to meet the modern demands of ships like providing fossil fuels and different kinds of alternative fuel and other services. “For this we need technical assistance and investments from foreigners and the government would welcome joint ventures.”
Centrum Marine team’s J. Derrick said that Sri Lanka seafarers played a crucial role during the pandemic.