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Codelco Probes New Signs of Overstated Chile Copper Output
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Ships’ captains paid $100,000 a month to transit Strait of Hormuz
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Gulf Tanker Crews Offered High Salaries Amid Rising Risks in Hormuz
Tanker crews navigating the Strait of Hormuz are receiving significantly increased compensation due to heightened risks from Iranian attacks on shipping. Captains can earn around $100,000 per month, along with a $50,000 bonus for each transit, according to a report by the Financial Times. This marks a stark contrast to the typical monthly pay of $1,500 for ordinary crew members and $15,000 for captains, with ordinary crew now earning at least four to six times their usual wage.
The escalating salaries reflect the challenges shipowners face in staffing vessels amid a designated war zone, where seafarers have the right to refuse voyages. The International Maritime Organization has reported that 24 seafarers have died in attacks in the region since the onset of the conflict, raising concerns about the safety of maritime operations. As a result, shipowners are incentivizing crews to remain on board despite the dangers, effectively treating them as mercenaries in a high-risk environment.
The situation illustrates a labor bottleneck in Gulf oil exports, where the flow of crude is maintained not by a reduction in threats but by the financial incentives offered to crews. With the risk of sudden interruptions remaining high, the price of Brent crude continues to hold a substantial premium over West Texas Intermediate (WTI), even as Saudi exports resume. The ongoing conflict and the associated risks are likely to further increase the premiums paid to crews, as shipowners seek to ensure the safe passage of oil through this critical chokepoint.
© 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: KLEA News