A little context to this @ftenergy claim that ship masters are being paid $100,000 month. 1️⃣The minimum wage for mariners is currently $690/month. Tanker masters are making about $12k/month. 2️⃣The $50k bonus is to sign up for a 3 to 4 month tour on a tanker that is doing shuttle service between the Persian Gulf and the Gulf of Oman 3️⃣The "danger pay" is only paid while the ships are making the Hormuz transit or if the ship comes under attack. It is unlikely that ship owners are paying 4x to 6x to sit in the Persian Gulf or Gulf of Oman, and most assuredly when the ship has departed. 4️⃣The "mercenary" term is derogatory. Instead, the mariners should be considered veterans for willing to take these chances with minimum defenses. 5️⃣ @business ran a story about a Filipino master making about $100k for a three month tour on a tanker, but not each month. This is not saying it is impossible, but it is on the very high end and probably unlikely. It should be noted that shipping companies will Nickle and Dime mariners for every expense and do not think for a minute that they are ravishing their mariners with new found wealth because of their profits. The biggest expense on ships are fuel and crew and they will do everything possible to minimize each to maximize profit.

The fact that the tankers are running through the Hormuz Strait in daylight, and during coverage by commercial satellite is a good indicator that volume of oil will continue to increase. What we are missing is information from @CENTCOM and @US5thFleet on the details on how these escorts are being performed - which for obvious reasons they do not wish to diverge. The other piece of evidence has been the lack of attacks on ships in the Gulf of Oman conducting ship-to-ship transfers. While we may not see US Navy warships in the Strait, they may be present on the GoO protecting these anchorages and catching the outbound tankers from Hormuz and providing coverage for the return ships. If you want am idea of what ships are codnucting these passages, they are probably the ships on @PGSA_IRAN Non-Compliance list. The Tanker War of 2026 is evolving into a major naval campaign that will force the @USNavy and @POTUS to rethink the role of commercial shipping, Sea Power and trade defense.

Included this new Saudi Red Sea oil flow tracker in our latest weekly. Confirmed and suspected Saudi red sea loadings, said loadings vs confirmed exits, and a breakdown of those exits by egress route.

The U.S. isn't short of diesel. The world is. So would banning U.S. diesel exports actually lower prices? It might sound like an easy fix. But once you look at refinery economics and how fuel actually moves, the answer gets complicated. Here's why:

Seeing a lot about the bolstered Saudi gulf loadings/Hormuz transits as the reason for this latest price dip That's entirely an expected switcheroo from crushed Red Sea loadings And while single-day figures can always be more impressive, you really gotta smooth it (10dma below)

Ask yourself why oil inventories are accelerating downward DESPITE increased flows from the middle east. China reported a 35mil barrel draw last week. That's 7mmb/d! It's not a magical sudden return of demand. Whatever invisible inventories that were being used to make inferred demand look lower are now gone, China is being forced to increase refining runs, and we are back to seeing the real effect of the global supply deficit.

UPDATE: 15-21 September weekly report: Highlights: * Volume: 50 vessels/crude loads captured * 78.05 Million bbl in total * 7-DAY rolling 11.15 Million bbl/day Fleet mix: VLCC 32 · Suezmax 7 · Aframax 9 · Panamax 2 Crude load reported destinations: India 14 · SEA 11 · FarEast 9 · China 7 · Other 7 · Unknown 2 Interactive Map: #IranWar# #OOTT# #Hormuz#

Thread 1/6 Here's a brief tour showing some of the ship attacks in the SoH and Persian Gulf between Sept. 9 and Sept. 21. Attacks between Sept. 17 and Sept. 21 targeted tankers. One target we did not include reportedly involved a crude oil tanker engaged in shuttle operations on Sept. 16. This will be added once I gather a bit more data on it. The map below is by @WashInstitute and tracks maritime attacks in the MENA region since 2017. Link to the map: (Use the map on a computer monitor; it has not yet been adapted for phone screens.) #Shipping# #OOTT# #IranWar‌#

Foreign vessel operators using the Jones Act waiver are reportedly moving petroleum products without reporting those movements to MARAD as required by law. If foreign operators are ignoring reporting requirements, what other U.S. laws are being ignored? The Administration should end the waiver, and Congress should conduct vigorous oversight of the waiver process. Accountability cannot be optional. #Endthewaiver# @realDonaldTrump @SecDuffy @JDVance @DOTMARAD @SpeakerJohnson

War-risk premiums for Strait of Hormuz transits: ~0.25% of hull value pre-conflict, now 3-10%. P&I clubs also raised the Excess War Risk sub-limit for Russia, Ukraine, and Belarus waters from $100M to $125M for 2026/27.

@mercoglianos Work is underway on the removal of the SS Richard Montgomery's masts... While the operation is in place, a webcam will watch it exclusively, 24 hours a day, seven days a week.

🇸🇦Saudi Arabia's oil has exactly 2 ways out right now both are compromised... East via Hormuz: Ras Tanura → strait → ship-to-ship transfer → Malacca → Asia. 3,370nm 10 days. Fast, but running through the exact chokepoint that's been disrupted since February. West via Red Sea: Yanbu → partial pipeline discharge → Sidi Kerir → around the Cape of Good Hope → Asia. 29+ days. Nearly triple the distance because Bab al-Mandeb is also blocked, forcing a full Africa detour instead of the Suez shortcut. Both of Saudi's coastal export options are compromised at once that's the real story here, not just Hormuz. image source:AlJaazera

JMIC ADVISORY NOTE UPDATE 098 Released by UKMTO on behalf of the Joint Maritime Information Centre Click here to view the full product.⤵️ #MaritimeSecurity# #MarSec#