3rd Issue - Marlow Navigation

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Dec 2008 3rd Issue Contents Pages Letter from the Chairman 2-3 Message from the Editorial Team 4 The Winners of the Photo Contest 5 Introduction to Recruitment Offices 6-19 Social Events in Cyprus & Elsewhere 20-23 Developments in Ukraine 24-27 Training 28-30 Marine Stories 31-33 Colleagues Working on board 34-35 Ship at Work 36-37 Watch Giving - 10 Years 38 Long Serving Seamen 39-43 Features 44-48
Dear friends and colleagues, 3rd Issue Dec 2008 Describing the past year as eventful could be considered as the understatement of the year! Rather 2008 can be compared to a rollercoaster ride on a personal, company and finally on a global level. The first months of the year saw shipping recovering from a small dip in trade and scaling new, previously unprecedented heights. The economic boom situation continued as it had in years before and with it came increased costs of living leading us to reconsider our wage scales earlier than previously planned. The continued weakness of the US Dollar was another reason why we had to move quickly to ensure the satisfaction of our Ukrainian and Russian crews and in early summer the decision to convert all wages for these seamen into Euro was taken. Shortly after having convinced all our clients, that this change was a necessary financial burden, the unexpected strengthening of the US Dollar meant that all plans to convert the wages had to be given up. In order to ensure that the increase of salaries would indeed lead to enhanced benefits and standards of living, it was decided to maintain the US Dollar currency and increase the salaries. If the new found strength of the US Dollar can be said to have caught us off guard, then the following worldwide economical crisis pretty much knocked us off our feet! To see the global economy imploding in such a short period of time has been a truly shocking experience and has affected each and every one of us. Already many ships are without employment and increasing numbers of crew are being laid off while vessels are being laid up. In the past we have always stressed Marlow’s size and the job security gained herewith as a major benefit to the seafarers employed with us. 2
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