Risk in the Strait of Hormuz pushes captains’ pay to $100,000, plus a bonus for every crossing

Captains and crews who undertake to sail tankers through the Strait of Hormuz are being rewarded with high payments, in proportion to the risks they face.

Captains of oil tankers sailing in this tense area of the Middle East are being offered up to $100,000 a month. In addition to this salary, they may also receive a bonus of $50,000 for every crossing, as shipping companies try to keep vessels moving through one of the world’s most dangerous energy corridors.

According to a Financial Times report, these unusual financial packages are being used to attract seafarers at a time when Iran has stepped up attacks on ships and oil producers in the Persian Gulf are trying to ensure the continued export of crude oil through the strait.

Alongside the increase in crew wages, the cost of transporting oil along this route has also risen sharply. Fees for cargoes passing through the Strait of Hormuz reached around $1.3 million per day this week, up from just $20,000 to $50,000 per day last year.

Under normal conditions, a tanker captain is paid around $15,000 a month, while an ordinary sailor earns approximately $1,500. When working in the southern Red Sea and the Gulf of Oman, crew members receive double their regular pay. For the current passage through the Strait of Hormuz, ordinary sailors may be paid four to six times their normal salary.

Most voyages through the strait involve repeated cargo transport, with tankers dedicated to consecutive trips. This gives crew members the opportunity to secure higher monthly incomes than they would even as captains, but it also continually exposes them to the risk of missile and drone attacks.