Unlike land-based Overseas Filipino Workers , a Filipino seafarer is required to make an allotment which shall be at least 80 percent of the seafarer’s monthly basic salary, payable once a month to his designated allottee in the Philippines.
ICMA was founded in 1969 to encourage collaboration and mutual assistance among seafarers’ ministry organizations. Some of the members organizations of ICMA include Stella Maris, Mission to Seafarers, Sailor Society, German Seemannsmission, among others. It is estimated that there is one Filipino seafarer for every four to five crew on board a vessel at any time.Data from the website of the Bangko Sentral ng Pilipinas showed the fluctuation in seafarers’ dollar remittances.
In 2022, total OFW remittances amounted to US&32,539,430.00 where US$25,823,550,000 are from land based workers while US$6,715,880,000 are from deployed seafarers. Some unscrupulous manning agencies shave off at least one or two pesos from the foreign exchange rate, misleadingly calling the cut as “service charges.”
Source: Law Daily Report (lawdailyreport.net)
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