Title: Ships’ captains paid $100,000 a month to transit Strait of Hormuz
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> Ships’ captains paid $100,000 a month to transit Strait of Hormuz
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Seems like a classic case of risk pricing at its most extreme. Hopefully this doesn’t become the new normal for international trade routes.
My husband captained tankers in that area years ago. He always said the fear was real, but this figure sounds unprecedented even for him.
Captain’s premium hits six figures. No wonder shipping costs are keeping global inflation stubbornly high these days.
Does this payment guarantee safe passage, or is it just insurance against delays? The lack of detail is worrying for shippers.
That is a staggering sum. I wonder if this premium will eventually stabilize or keep climbing as tensions persist in the region.