The International Transport Workers’ Federation (ITF) and employers Joint Negotiating Group (JNG) will meet in London for the first round of talks to thrash out a wage agreement under the International Bargaining Forum (IBF) covering more than 150,000 seafarers on Thursday next week.

The meeting at the ITF’s London headquarters comes amid a financially painful market downturn for employers and marks a new prudent approach, at least relating to the location of the negotiations.