The shipping industry is wrestling with one of its largest challenges; shortage of seafarers

"We have been seeing a consistent shortage of seafarers," Rhett Harris, senior manning analyst at Drewry, told CNBC. Though the number of vessels has in recent years risen "exponentially" in the thousands per year, the manpower growth needed for those ships has not kept pace, he said.

Houthi attacks in the Red Sea and the ongoing Russian-Ukraine conflict have resulted in a knock-on effect on the availability of skilled seafarers, experts told CNBC.

"Both Ukraine and Russia had supplied a lot of professional seafarers. However, the conflict between Ukraine and Russia has indeed reduced the supply of seafarers from both countries, as they're facing overall labor shortages due to the war," said Daejin Lee, global head of research at FertiStream.

The Philippines, China, Russia, Ukraine and Indonesia are the largest suppliers of the world's seafarers, according to the most recent seafarer workforce breakdown report by the International Chamber of Shipping (ICS) and BIMCO in 2021.ICS expects a shortfall of 90,000 trained seafarers by 2026, ICS told CNBC via email. "Policymakers need to create national strategies to address the seafarer shortage," the shipping organization said."It is vital that we actively recruit a more diverse workforce if we are to meet the shortfall of seafarers needed to keep the industry thriving, it is one of the biggest challenges our industry is facing at the moment," said ICS.Existing maritime personnel are also opting for more shore-based jobs rather than going out to sea, said Henrik Jensen, CEO of Danica Crewing Specialists Group, an international maritime recruitment and manning services company. On top of that, the dwindling appeal of seafaring to younger generations may be the nail in the coffin for the vocation.

Fake resumes have become more prevalent in the industry since the shortage, the analysts said, with an increasing number of seafarers fabricating experiences on vessels and time out at sea.

"The standard of seafarers is going down. Because now they just need anybody with a license," the captain said, adding that he has had to fire more seafarers of late whose competence had been called into questionExisting seafarers also needed to be out at sea for longer, back-to-back durations, with fewer people available to do so. The fatigue and mental strain that arises can result in compromised mental health for some and even accidents on board…The safety of ships and the crew can be compromised because of a cocktail mix of inexperience, lack of proper maintenance and fatigue, said SubhangshuDutt, executive director of Om Maritime.

In a2024 study by the World Maritime University, over 93% of 9,214 of the seafarers surveyed noted that fatigue is the most common safety-related challenge on board. About 78% report not having a full day off throughout the entirety of a contract period, which can last for months…Other experts share the view that the seafarer shortage will persist for a few more years, recognizing that it is among the largest hurdles the industry has to face.