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International Business Times UK
International Business Times UK
World
Seneca Cabrera

Strait of Hormuz 'Danger Pay': Ship Captains Offered $100K a Month Plus $50K per Trip To Risk Attacks

Record danger pay, freight rates and insurance costs reflect the growing risks of oil tankers (Credit: Official US Navy Page from United States of America Petty Officer 2nd Class Matthew Riggs/US Navy)

Oil tanker captains are being offered up to $100,000 (about £75,700) a month plus a $50,000 (about £37,900) bonus for each Strait of Hormuz transit as shipowners try to keep Gulf crude moving despite attacks on commercial vessels.

The packages, reported by the Financial Times, are far above normal tanker captain earnings of about $15,000 (approximately £11,300) a month. Crews operating in the region are also receiving higher wages, with some seafarers paid four to six times their usual rates during Hormuz transits.

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