MSC Expands Into VLCC Tankers With Sinokor

Credit: MSC

Mediterranean Shipping Company (MSC) has formalized joint control of South Korea’s Sinokor Maritime, confirming its entry into the crude tanker segment, GCaptain reports.

A March 11 filing in Cyprus shows MSC, via its subsidiary SAS Shipping Agencies Services, will share ownership with Sinokor’s founder, Ga-Hyun Chung. The move puts an official structure behind a relationship that had drawn strong market attention.

Sinokor has rapidly built a major position in the VLCC market, with estimates pointing to control of 100–120 vessels through acquisitions and charters – potentially up to a third of the spot fleet. This expansion coincided with a spike in VLCC earnings, with rates exceeding $100,000 per day amid tightening vessel availability.

For MSC, the deal signals a clear shift beyond its core container business and a growing presence in the tanker market. Financial terms remain undisclosed, and neither company has commented publicly.

Global News

Related Maritime News

containership Safeen Prestige Strait of Hormuz

Missile-hit containership Safeen Prestige confirmed lost in Strait of Hormuz escalation

The containership Safeen Prestige has reportedly sunk in the Strait of Hormuz after a missile strike triggered a severe onboard fire, according to The Maritime Telegraph. A safety warning issued by NAVAREA IX on April 1 confirmed the vessel’s loss, marking the first reported total ship loss linked to the current security escalation affecting commercial shipping in the region.

Chinese Captain Fined $560,000 After Taiwan Subsea Cable Damage Case

A Taiwanese court has ordered a Chinese captain to pay about $560,000 to Chunghwa Telecom after his vessel damaged the Tai-Peng No. 3 subsea cable in the Taiwan Strait, NextShip reports. The ruling follows a three-year prison sentence issued in June 2025, underlining Taiwan’s tougher enforcement measures to protect critical offshore communications infrastructure.

French Court Sentences Chinese Shadow Fleet Tanker Captain

A French court has sentenced the Chinese captain of a suspected Russian shadow fleet tanker to one year in prison and issued an international arrest warrant after he refused to stop his vessel for a naval inspection off western France, Splash247 reports. The ruling marks a major escalation in Europe’s enforcement campaign against ships suspected of moving Russian crude outside Western sanctions frameworks.

Over 200 Passengers Evacuated After Night Collision Near Amsterdam

More than 200 passengers were evacuated after the river cruise ship A‑Rosa Sena struck the Amsterdamsebrug on the outskirts of Amsterdam late Wednesday, The Maritime Telegraph reported, citing local media. The helmsman suffered minor injuries, while passengers remained unharmed.

Libya Launches Operation to Secure Drifting LNG Carrier Arctic Metagaz

Libya has initiated an emergency maritime response to secure the damaged LNG carrier Arctic Metagaz, which continues drifting in the Mediterranean and poses rising environmental and navigation risks, according to NextShip. The country’s National Oil Corporation (NOC) is coordinating recovery efforts with international specialists and national authorities to stabilize the vessel and prepare it for towing to a safe port.

China Floats Out Second Homegrown Cruise Ship Adora Flora City

China has reached another milestone in cruise ship construction after floating out its second domestically built large cruise vessel, Adora Flora City, The Maritime Telegraph reports. The ship will undergo sea trials in late May and is scheduled for delivery by the end of 2026, with Guangzhou planned as its homeport.