ABC News & Headlines – Australian Broadcasting Corporation
3h ago
Shipping firms offer captains up to $US100k a month to sail Strait of Hormuz
Iran and the United States are enforcing separate blockades in the Strait of Hormuz, cutting tanker transits to a daily average of just 10 in October from 125 before the war. To draw crews into the risky passage, shipping companies have raised captains' monthly pay from about $22,000 to as much as $143,000. Some companies are adding double-pay bonuses. The increases reflect sharply higher transport risk on the key waterway, with crude shipping costs under significant upward pressure.