Forget the U.S. Navy, the best protection for ships traveling through the Strait of Hormuz may be claiming to be a ‘Chinese’ or ‘Muslim’ vessel

The Strait of Hormuz isn’t completely closed as several daring ship captains have risked attacks from Iran to transport cargoes through the narrow Persian Gulf waterway, with some claiming to be Chinese.

Tanker traffic has largely come to a standstill since the U.S. and Israel launched a war against Iran, which has retaliated by lobbing missiles and drones at Gulf neighbors as well as the ships ferrying energy to destinations around the world.

About 20% of the world’s oil and liquid natural gas pass through the strait, and the sudden traffic halt has sent prices soaring. But that spike also promises a massive payday for any ships willing to make their deliveries. Freight rates have soared to record highs, and a very large crude carrier heading from the strait to China can earn about $500,000 in revenue per day.

Over the past week, at least 10 ships have changed their transponder signal to say “Chinese Owner,” “All Chinese Crew” or “Chinese Crew Onboard,” according to MarineTraffic data analyzed by the Financial Times. 

For example, one ship called the Iron Maiden briefly changed its ...