Major players in the shipping industry are forming an HR and benchmarking club intended to produce reliable salary and compensation data.
Owners, ship managers and freight trading companies have signed up to the Tanker HR and Benchmarking Forum in the wake of warnings that the shipping industry faces a shortage of officers in the coming years.
Specialist recruitment company Spinnaker Consulting will manage the venture, ensuring the confidentiality of the data from the member companies.
"Many other industries have long taken for granted the availability of benchmarking data, but it has been notably absent in shipping," Spinnaker said in a statement. "As industry labour becomes ever more globally mobile, world-class HR practices and reliable compensation data [will be] critical factors in enabling companies to compete."
Philip Parry, Spinnaker's chairman, added: "The twin focus for HR professionals is staff attraction and retention. The club will give access to information that will help the leading players set compensation and benefits levels to attract and retain staff."
The inaugural meeting of the forum will be held in London on 27 October.