JOURNAL ARTICLE

A Huge Bet on Supertankers Reverberates Through the Oil Market.

  • Published In: Bloomberg.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Longley, Alex; Soon, Weilun; Nightingale, Alaric 3 of 3

Abstract

The article discusses significant developments in the oil tanker market driven by the South Korean shipping firm Sinokor, which has rapidly acquired control of approximately 120 very-large crude carriers (VLCCs). This aggressive expansion, supported by connections to Gianluigi Aponte, founder of Mediterranean Shipping Co. (MSC), has raised concerns among market participants, leading to increased freight costs and a tightening of available vessels. The consolidation of tanker ownership is impacting pricing dynamics and creating a "fundamental shift" in the market, as demand for non-sanctioned tankers rises amid global oil supply fluctuations. The financial implications of these acquisitions are substantial, with estimates of the total cost ranging from $1.5 billion to $3 billion. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2026/02, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2026
  • Accession Number:191608028
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