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Filipino sailors remitted $6.14-billion through Philippine banks

Filipino sailors onboard foreign ocean-going vessels sent home a record $6.14 billion through the banking system in 2018, ACTS-OFW Rep. Aniceto Bertiz III said.

The total remittance was 4.6 percent or $270 million higher from the $5.87 billion sent in 2017.

“The amount does not include money remitted via non-bank channels as well as cash physically brought home by sailors on vacations,” Bertiz said.

By country of origin, Bertiz said the top sources of cash transfers from Filipino sailors last year were the United States at $2.31 billion; Singapore, $563.85 million; Germany, $560.98 million; Japan, $435.82 million; the United Kingdom, $331.23 million; Hong Kong, $275.53 million; the Netherlands, $259.12 million; Greece, $174.98 million; Panama, $163.62 million; Cyprus, $125.19 million; and Norway, $115.98 million.

“We see the demand for Filipino sailors rising steadily in tandem with international merchant ship traffic, as economies around the world continue to expand,” Bertiz said.

Filipino sailors serve on bulk carriers, container ships, oil, gas, chemical and other product tankers, general cargo ships, pure car carriers and tugboats around the world.

Many Filipinos also provide housekeeping, guest relations, culinary, front office and other maintenance services on cruise ships and floating casinos.

Topics: ACTS-OFW , Aniceto Bertiz III , cash transfers
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