Hormuz Strait transit risks drive tanker captain salaries to $100,000 plus $50,000 bonus per trip; Brent crude up 2.28%
Reports indicate that tanker captains navigating the dangerous Strait of Hormuz are now earning base salaries of up to $100,000, along with a $50,000 bonus per voyage, with overall crew pay reaching four to six times normal salaries. This comes as shipping traffic through the strait fell to its lowest level since July, while oil prices rose on Thursday morning due to ongoing attacks on tankers and extreme logistics costs. Brent crude futures increased by $2.28, or 2.28%, to $102.28 a barrel, and US West Texas Intermediate crude futures gained $1.66, or 1.88%, to $89.94. Shipping companies are reportedly spending $30-40 million for a single round trip to move oil, with crews taking measures like turning off transponders and lights, and barricading decks with sandbags.
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