💵 Hormuz danger pay hits $100,000 a month for tanker captains

With Iran still keeping the Strait of Hormuz closed, crossings have become so dangerous that shipowners are offering exorbitant rewards to keep crews willing to make the voyage, reports the FT.

🔶 tanker captains can now reportedly earn the equivalent of $100,000 a month, plus $50,000 for each Hormuz transit

🔶 ordinary seafarers are receiving four to six times their usual pay during crossings

🔶 crews are taking additional precautions, sailing mostly at night and switching off GPS signals

🔶 only a handful of tankers are still making regular shuttle runs through the strait, with traffic falling to 13 vessels on October 4, from 24 a week earlier

🔶 93 ships have been hit and 24 sailors killed since February 28 (International Maritime Organization)

🔶 tanker freight rates have surged to $1.3 million a day, versus $20,000–$50,000 last year

🔶 insurance can reach $20 million per supertanker voyage

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