THE International Labor Organization (ILO) once again convened the latest bipartite round of negotiations between shipowners and seafarers' unions from across the world and has agreed on a new three-year global minimum wage "safety net" deal for seafarers.

As coordinated by the International Chamber of Shipping (ICS) and the International Transport Workers' Federation (ITF), respectively, the agreement applies universally to the rating grade of Able Seafarer (AB) and is widely recognized by the global shipping community as contributing to decent work and employment for seafarers, to support themselves and their families, recognizing the overall well-being of seafarers is inextricably linked to their economic well-being.

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