Seafarer pay soars to $100k/month for Hormuz transits amid Iran attacks

Shipping companies are paying captains up to $100,000 per month to transit the Strait of Hormuz, reflecting a sharp escalation in risk premiums for commercial shipping in the face of Iranian attacks. The wage surge signals a tightening supply of willing seafarers and could raise shipping costs and insurance rates, potentially impacting global oil and goods flows. The development underscores the growing cost of geopolitical risk in a critical chokepoint.