The Sinokor Group, the world's largest supertanker operator, is offering crew members an additional six months' salary to persuade them to transit the Strait of Hormuz, according to a Bloomberg report. The bonus reflects growing risks faced by shipping in the strategic waterway amid ongoing tensions.
The Sinokor Group, which operates the world's largest fleet of ultra-large crude carriers (ULCCs), is offering its crew an extra six months' pay to transit the Strait of Hormuz, Bloomberg reported Tuesday. The bonus is a dramatic measure to maintain shipping through the strategic waterway, where crew safety concerns have risen due to Iranian threats and military activity.
The Strait of Hormuz has been a central flashpoint in recent months. The Zioneer has previously covered a range of related developments: European efforts to secure an alternative route (June 16), reports that Europe was prepared to pay Iranian tolls (July 2), Trump's claim of record traffic (July 2), and Wall Street Journal reports on US plans to seize Iranian islands (July 19) and offer frozen assets in exchange for dropping tolls (July 3). The new bonus offer underscores the difficulty of keeping commercial shipping operating under the current conditions.
The report is based on a single Bloomberg source, and no confirmation from Sinokor or other shipping firms has been published. The exact number of vessels affected and the time frame for the bonus are not specified.
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