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

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