Recession has the potential to do a considerable amount to improve the safety aspects as ships get laid up, thereby reducing the number of seafarers required overall. 

Owners and shipmanagers have been spread too thin in recent times in their efforts to control ever-increasing volumes of new ships in this frantic bull market.  

This resulted in the spiraling wage bills as owners competed with each other for quality crews. 

Insurers complain of a major rise in claims on new machinery as inexperienced engine room staff failed to deal with problems which occurred on ships spewing from the yards. 

A period of moderation might allow the managers to restore the quality levels that have slipped over the last four years and who knows, the pricing may fall as well.