Shipowner Offers Sailors 6-Fold Pay To Cross Strait Of Hormuz: Report

As attacks on commercial ships continue to disrupt one of the world's busiest oil routes, a shipping company is offering extraordinary financial incentives to convince crews to sail through the Strait of Hormuz.

One of the biggest offers has reportedly come from Sinokor Group, the world's largest owner of supertankers. According to a document seen by Bloomberg, the company offered seafarers an additional six months' salary if they completed a round trip through the strait to collect crude oil from Saudi Arabia or Iraq and unload it in the Gulf of Oman. The voyage was expected to take about a month.

The proposal was circulated before the latest attacks on merchant vessels on Monday, highlighting the growing risks faced by those working at sea.

A Dangerous Gamble

For many seafarers, the offer presents a difficult choice. Either to earn a life-changing bonus or avoid a route that has become increasingly deadly.

According to the UN's shipping agency, at least 59 commercial vessels have been attacked in and around the Persian Gulf since the conflict began at the end of February. Those attacks have claimed the lives of 17 seafarers.

At least two sailors were killed in attacks last week, while another ship had to be abandoned on Monday. After these fatalities, the offers were made.

According to the report, on oil tankers, captains, who make the final navigation decisions, can earn up to $15,000 a month, according to officials at two shipping companies.

Junior sailors, known as ratings, typically earn around $1,500 a month under normal conditions. They also have the option to request replacement if they are unwilling to sail into dangerous waters.

Crews Face The Greatest Personal Danger

The Strait of Hormuz remains one of the world's most valuable shipping corridors, allowing shipowners to earn millions of dollars from a single voyage. At the same time, insurance costs for transiting the waterway have surged.

While companies stand to make significant profits, it is the crews who face the greatest personal danger, and not everyone is willing to accept the risk, even for a hefty payday.

"They are being offered huge bonuses by some companies," said Captain Pradeep Chawla, chairman of GlobalMET, an organisation that works with the International Maritime Organization to promote seafarer training and education.

"We have heard stories of a large number of crew members getting off, but they are able to find people who are willing to go."

Bonuses Keep Climbing

The report stated that Sinokor's offer is among the most generous currently being made. Other shipping companies are reportedly offering bonuses equivalent to around 60 days' salary for a 30-day contract through Hormuz.

Payments have continued to rise as attacks on shipping disrupted traffic through the strait. Similar incentives were also seen earlier in the Iran conflict, when vessels inside the Persian Gulf came under frequent attack.

Traffic Through Hormuz Slows

The growing security threat has led to a visible drop in ship movements through the Strait of Hormuz in recent days.

However, the full picture remains unclear, as some vessels are believed to be switching off their satellite tracking systems while crossing the region, making it difficult to determine exactly how much traffic is still passing through the strategic waterway.