Sinokor offers six-month salary bonus for a single month-long oil transit through the Strait of Hormuz as ship attacks mount
Sinokor Group, the world's largest tanker owner, is offering crews six months' extra pay for a round trip between Iraq, Saudi Arabia and the Gulf of Oman as attacks on merchant ships escalate in the region.
The bonus offer
Sinokor Group, the world's largest owner of supertankers, has put forward an exceptional financial incentive to crews willing to sail through the Strait of Hormuz. According to a document circulated late last week and seen by Bloomberg, the company is offering six months of additional salary for a single round trip lasting about a month. The voyage involves loading crude oil from Iraqi or Saudi Arabian ports and discharging it in the Gulf of Oman.
Captains, who can earn up to USD 15,000 per month, stand to gain the largest absolute sums, while junior crew members, who normally earn around USD 1,500 a month, would see a dramatic proportional boost. Two shipping firm officials confirmed the pay scales to Bloomberg, and one recruitment source noted that although other companies offer lower premiums, the rates remain highly attractive.
Rising dangers in the Gulf
Attacks on merchant vessels in the Persian Gulf and its approaches have intensified since a conflict erupted at the end of February. The UN's maritime agency reports that at least 59 commercial ships have been hit and 17 sailors killed. In the past week alone, at least two seafarers died in strikes, and another vessel was abandoned on Monday, 20 July.
These incidents prompted the fresh wave of bonus proposals. The Sinokor offer was in train before the latest attack, but the violence has made the risk-reward calculus even sharper.
Some companies are offering them huge bonuses.
Captain Pradeep Chawla, chairman of GlobalMET, a body that cooperates with the International Maritime Organization on seafarer training, told Bloomberg that many crew members are refusing to sail into the danger zone, yet shipowners still manage to fill the posts.
- Conflict erupts in the Persian Gulf region, triggering attacks on merchant shipping.
- At least two sailors killed in attacks last week, raising the death toll to 17.
- Sinokor Group circulates a bonus document offering six months' extra pay for Hormuz transits.
- Another ship abandoned on Monday after a further attack.
- Reports detail the size of danger-pay premiums and the rising human cost.
Shipowner pressure and crew choice
Shipowners can demand millions of dollars for a single transit through Hormuz, and insurers now charge enormous premiums for the passage. Nevertheless, the heaviest burden falls on the crews themselves. Under international regulations, sailors have the right to request disembarkation and be replaced if they do not wish to enter a war-risk area.
Two crew recruitment sources told Bloomberg that typical bonus rates are lower than Sinokor's offer, although they remain very attractive. One of them said some companies had not yet matched the six-month figure. The documents show that the offer applies to a voyage that would take roughly a month in total, making it equivalent to half a year's ordinary pay for a single trip.
Outlook for oil shipping
The Strait of Hormuz remains the world's most critical oil transit chokepoint, and the spike in attacks is forcing owners to weigh multi-million-dollar revenues against soaring insurance costs and, primarily, the safety of their people. While the financial rewards for a single voyage can be immense, the rising death toll (17 sailors lost since February) is reshaping decisions on the bridge and in crew agencies.
