In a research briefing published last week on #WorldMaritimeDay, our portfolio startup TURTLE reveals the alarming trends in illegal recruitment fees in the maritime industry. Since announcing our collaboration with TURTLE in late 2023, they have been making strides in spurring diversity and mitigating the risk for corruptive and unfair recruitment demands in the shipping industry. Trusted by reputable companies like Lomar Shipping, TURTLE serves as a secure employment platform that promotes fair opportunities for seafarers while helping companies strengthen their social and governance initiatives as part of their broader #ESG efforts. #notorecruitmentfraud #seafarerempowerment #seafarers #venturelab #futureofwork #maritimeindustry
Research briefing published: Alarming trends in illegal recruitment fees in the maritime industry Building on last year's corruption survey, TURTLE and the Institute for Human Rights and Business present a follow-up survey on illegal recruitment fees, which shows that despite the Maritime Labor Convention's ban, illegal fees are still demanded by one in three seafarers. In 2024, 28% of seafarers faced such demands, with fees ranging from 500 to 5,000 US dollars. Shockingly, 80% of seafarers did not report these fees, often unaware of their illegality. Key findings suggest a widespread impact across all ranks and nationalities. There needs to be a direct link between shipowners and seafarers so that seafarers have a safe gateway to their employers. As can be seen from the comments on the survey, this is also what seafarers are demanding. Read the research briefing now! #notorecruitmentfraud #worldmaritimeday #turtle #seafarerempowerment #seafarers