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Shipowners Offer Large Rewards for Hormuz Voyages
International oil tanker companies, especially Sinocore Group, have offered hefty financial incentives—up to six months' worth of additional salaries—to attract crews to navigate the Strait of Hormuz, in order to transport oil from Saudi Arabia and Iraq. This comes amid rising attacks on vessels and ongoing threats to maritime navigation, which have led to decreased traffic and higher insurance costs. For example, a ship's captain earns around $15,000 per month, while an inexperienced sailor starts at $1,500. Sailors are faced with the choice of accepting these lucrative bonuses or risking their lives, as dangers have increased since February, with 59 ships attacked and 17 sailors lost.
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