Shippers Offer $25,000 Bonuses for Oil Transport via Strait of Hormuz

Key Facts

1Shippers are offering sailors bonuses of up to $25,000 per trip to transport oil through the Strait of Hormuz.

2A risky shuttle run system costing up to $40 million is being used to bypass Iranian threats.

Shippers are offering sailors bonuses of up to $25,000 per trip to transport oil through the Strait of Hormuz. The Wall Street Journal reported that companies are also utilizing a risky shuttle run system costing up to $40 million to bypass Iranian threats.

These measures aim to maintain oil flows amid a conflict-driven shortage of available vessels and record-high charter rates in the Persian Gulf. The high operational costs reflect extreme supply chain stress and ongoing security risks impacting the global energy market.