As missile and drone strikes hit commercial vessels near Oman and the UAE, supertanker operator Sinokor triples hazard bonuses while marine war-risk insurance premiums soar to 10%.
DUBAI / SEOUL — Commercial shipping through the vital Strait of Hormuz came under renewed violence on Monday following a spate of projectile and drone attacks on commercial tankers. In response to growing danger and crew shortages, South Korea’s Sinokor Group—the world’s largest owner of Very Large Crude Carriers (VLCCs)—has taken the unprecedented step of offering crew members an extra six months’ salary for a single one-month round trip through the waterway.
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The incentive highlights the severe financial and operational pressures gripping the maritime industry as commercial transit through the energy chokepoint slows sharply amidst a tenth consecutive night of U.S. strikes on Iranian targets.
1. Fresh Wave of Attacks on Commercial Tankers
Multiple commercial vessels reported severe damage and engine room fires following strikes near Oman and the United Arab Emirates over a 24-hour period:
🔥 Recent Incident Log in the Gulf Region:
🚢 Kaifan (Kuwaiti Product Tanker) ➔ Hit by drone/missile 8 nm NE of Limah, Oman. Engine room fire forced crew to evacuate into lifeboats.
🚢 Kavomaleas (Maltese-Flagged) ➔ Struck by two projectiles near Kumzar, Oman; crew deployed fire suppression and evacuated safely.
🚢 Unnamed Vessel (Off UAE Coast) ➔ Sustained steering gear damage 17 nm east of Dibba; crew confirmed safe with no pollution reported.
The incidents follow heightened regional escalation, leaving several vessels burning and adrift in Omani waters while rescue tugs and maritime security units responded.
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2. Skyrocketing Costs & Record Seafarer Bonuses
With seafarers legally entitled to refuse passage into designated high-risk war zones, shipowners are competing fiercely to recruit willing crews.
Financial Impacts on Hormuz Transit Shipping
| Financial Metric | Standard / Baseline Rate | Current Escalated Level | Market Impact |
| Marine War-Risk Premium | ~0.25% of hull value | Up to 10% of vessel value | Adds $3M–$10M in insurance costs per supertanker transit. |
| Sinokor Crew Hazard Bonus | 30 to 60 days extra pay | 6 months’ salary (180 days) | Captains can earn up to $90,000 bonus for a 30-day voyage. |
| Crude Transport Surcharge | Baseline freight rates | +$1.80–$5.30 per barrel | Additional insurance and wage costs passed down to refiners. |
Timeline of Recent Maritime Escalations in Hormuz
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Industry Takeaway: Under standard Baltic and International Maritime Council (BIMCO) charter contracts, extra wage bonuses and war-risk insurance surcharges paid by shipowners are directly reimbursable by charterers—ultimately driving up global energy transport costs.
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