A salary increase of 1% has been agreed for 2015, with 2% following in 2016 and 3.5% in 2017.
There will also be a 10% rebate for owners belonging to the joint negotiating group (JNG) from the ITF welfare fund, with an additional 2.5% based on an incentive system.
The ITF had called for a 15% hike.
A statement from both sides involved in the talks said: “The negotiations were particularly challenging this year, following the depression of the global shipping market, since the last agreement was negotiated in 2011.”
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