Sinokor Group Dominates September Oil Transits Through Hormuz

Sinokor Group, a South Korean shipowner owned by tycoon Ga Hyun-chung, transported 105.6 million barrels of crude oil through the Strait of Hormuz in September. This volume represents nearly 40% of the total oil crossing the waterway, according to data from Vortexa, Equasis, and Signal Group.

The company's shipments exceeded the combined totals of the National Shipping Company of Saudi Arabia (Bahri), the Kuwait Oil Tanker Company, and the shipping unit of Abu Dhabi National Oil Company, which together moved 97.3 million barrels. Sinokor secured this dominant position by expanding its tanker fleet through purchases and time charters before the Iran war, enabling the firm to capitalize on high rates during periods when the strait was nearly closed.

Sinokor continues to operate in the shuttling trade. The company transports crude from Iraq, Qatar, Saudi Arabia, and the United Arab Emirates to ship-to-ship transfer points located in the Gulf of Oman.