Oil tanker captains are being offered over $100,000, plus bonuses, to cross Hormuz
Owners are using hazard pay to keep crews on regular shuttle runs as attacks rise and war-risk costs climb, the Financial Times reported.
- Tanker captains navigating the Strait of Hormuz are earning base salaries of up to $100,000 monthly plus a $50,000 per-trip bonus to attract crews willing to brave intensifying maritime attacks.
- The Middle East war, triggered by February US and Israeli attacks on Iran, has fueled a surge in maritime assaults, with maritime security company Vanguard reporting at least 14 attacks in the last 20 days.
- Freight rates for Hormuz cargoes reached a record $1.3mn per day this week, while war-risk insurance premiums for supertankers now cost up to $20 million per voyage.
- Forward Seamen's Union of India secretary-general Manoj Yadav reported that shipowners are pressuring reluctant crew members to sail by threatening job loss, with some seafarers "almost being viewed as mercenaries."
- Operational costs have spiked, with fuel prices at Fujairah rising 67% from last year, while most vessels now transit the waterway at night with GPS signaling systems switched off.
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The normal monthly salary of a sea captain is around $15,000, but in the Strait of Hormuz it can increase sevenfold due to continuous attacks by Iran, the Financial Times reports.
Attacks are tightening, wages are rising, transport rates and insurance premiums are also rising. Behind the oil supply, sailors are risking their wage lives of $100,000 a month, plus a bonus of $50,000 for each trip, are offered to oil captains transiting the Ormuz Strait, according to Investing.com. Iran's attacks on ships ...
Captains of oil tankers sailing through the Strait of Hormuz receive millions of crowns a month, ordinary sailors hundreds of thousands. The voyage to the Persian Gulf and back is so risky due to the conflict between the United States and Iran that shipping companies are paying record prices. Countries like Saudi Arabia and the United Arab Emirates are willing to pay ships up to ten times more for oil exports than before the war.
Captains and sailors on ships in Hormuz are now almost mercenaries, according to data from the Financial Times - The hazard wages they receive amid escalation from Iran and the pressures exerted on them if they refuse - Freight rates skyrocket to $1.3 million per day
Captains get a handsome risk bonus and salary for sailing through the dangerous Strait of Hormuz
The owners of tankers transporting oil through the Strait of Hormuz pay their captains about $100,000 a month, plus a bonus of $50,000 for each voyage. A captain's typical monthly salary is $15,000.
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