Strait of Hormuz Captain Turns 'Bounty Hunter'? Monthly Salary Hits $100,000, Plus $50,000 Bonus Per Crossing

As Iran has recently intensified attacks on vessels in the Strait of Hormuz, seafarers willing to risk navigating this critical global energy corridor are earning an unprecedented "hazard premium". According to three sources close to oil tanker owners and crews, some tanker captains now earn a monthly salary of up to $100,000, plus a $50,000 bonus for each transit of the Strait of Hormuz, while ordinary sailors’ pay is 4 to 6 times the standard rate. Industry insiders describe seafarers willing to take on this risk as "almost regarded as mercenaries". Meanwhile, shipping costs have surged sharply. Freight rates for cargo transiting the Strait of Hormuz rose to around $1.3 million per day this week, compared to the usual $20,000 to $50,000 last year; war risk insurance for a single voyage can cost up to $20 million, and fuel oil prices for supertankers in Fujairah have risen 67% year-on-year. Maritime security firm Vanguard reports that at least 14 attacks have occurred in the Strait of Hormuz since September 20, including 4 vessels hit since last Saturday. Data from the International Maritime Organization (IMO) shows that at least 93 vessels have been attacked since February 28, killing 24 sailors. Windward data shows only 13 vessels transited the strait on October 4, down from 24 in the same period last week. The Strait of Hormuz handles roughly one-fifth of the world’s oil and liquefied natural gas (LNG) supplies. While traffic has gradually recovered recently, Kpler data shows that current oil volumes transiting the strait are still about one-third lower than pre-war levels.