The human element is the largest operating cost for most commercial vessel operators. STCW training, MCA Certificates of Competency, crew recruitment agency fees, and seasonal wage commitments are all substantial expenditures that often need to be met before a vessel generates the revenue to fund them. Doulton Bridging Finance arranges finance to bridge this gap - from training costs for a single crew member to seasonal wage advance facilities for entire crews.
STCW Training Finance
The Standards of Training, Certification and Watchkeeping for Seafarers (STCW Convention) sets the international minimum requirements for seafarers. In the UK, the MCA enforces STCW compliance for commercial vessel crew. Key STCW courses and typical costs:
| Course | Duration | Typical Cost | Renewal |
|---|---|---|---|
| STCW Basic Safety Training (BST) | 5 days | £500–£1,200 | 5 years |
| Proficiency in Survival Craft (PSC) | 3 days | £400–£800 | 5 years |
| Advanced Fire Fighting | 3 days | £350–£700 | 5 years |
| Medical First Aid (MEFA) | 5 days | £500–£900 | 5 years |
| GMDSS General Operator Certificate | 2 weeks | £800–£1,500 | 5 years |
| Efficient Deck Hand (EDH) | 3–4 weeks | £2,000–£4,000 | No expiry |
| Full STCW Basic package (new crew) | 10 days | £1,500–£3,000 | 5 years |
For operators training 5–20 crew members simultaneously - for example when commissioning a new ferry service - the training cost (£7,500–£60,000) can be financed over 12–36 months.
MCA Certificate of Competency (CoC) Finance
MCA Certificates of Competency (formerly "Tickets") are the professional qualifications that allow seafarers to serve in specific officer and master roles. The key CoC levels and associated training costs:
- Officer of the Watch (OOW) Unlimited: £10,000–£20,000 (including simulator hours, orals preparation, examinations)
- Chief Mate Unlimited: £5,000–£12,000 additional after OOW
- Master Unlimited: £4,000–£10,000 additional after Chief Mate
- MCA Small Vessel Skipper qualifications: £2,000–£6,000
- Fishing vessel skipper: First Class (FC) and Second Class (SC): £3,000–£8,000
Employer-funded CoC training - where a commercial operator funds their crew's qualifications in exchange for a minimum service commitment - is an investment in crew retention as much as compliance. Business loans of £5,000–£50,000 for CoC training are available through DBF.
Crew Recruitment Finance
Specialist MCA-certificated officers are in short supply in the UK maritime sector. Crew recruitment agency fees for officers typically run to:
- Deck Officer (OOW): 10–15% of first-year salary (£4,000–£8,000)
- Chief Officer: 10–12% of salary (£6,000–£10,000)
- Master: 10–15% of salary (£8,000–£15,000+)
- Marine Engineer: £4,000–£12,000 depending on grade
These fees are payable to the agency upfront or within 30 days of placement. A short-term business loan or revolving credit facility can fund recruitment fees and be repaid once the vessel is earning revenue with the newly-recruited crew.
Seasonal Wage Advance Facilities
Charter vessel operators, tourist ferry services, and seasonal fishing operations face a common challenge: crews need to be engaged and trained ahead of the season, but revenue only flows once operations begin. Finance options for seasonal operators:
- Seasonal business loan: Advance of 3–6 months' projected crew costs, repaid from season revenues. Term 12 months.
- Revenue-based finance: Repayments as a % of monthly revenue - lower in off-season, higher in peak season. Well-suited to charter and tourist vessel operators.
- Merchant cash advance: For charter operators with card payment income. Advance repaid as % of future card transactions.
- Invoice finance: For operators with corporate bookings or freight contracts - advance against outstanding invoices to bridge the payment gap.