The Mediterranean Shipping Company (MSC) is set to gain joint control of South Korea's Sinokor Maritime, marking a formalization of a relationship that has attracted attention in the tanker industry.

A recent filing in Cyprus on March 11 reveals that MSC, through its Luxembourg-based subsidiary SAS Shipping Agencies Services, will share control of Sinokor with its owner, Ga-Hyun Chung, who previously owned the company outright.

This agreement provides clear evidence of a partnership that has been speculated about within the industry for several months.

Sinokor has made headlines in the tanker markets in early 2026, quickly amassing a significant fleet of very large crude carriers (VLCCs). Industry estimates indicate that the company now owns around 100 to 120 supertankers, which could be up to one-third of the available spot fleet, following an aggressive strategy of purchasing and chartering secondhand vessels.

This buying spree has coincided with a sharp rise in tanker earnings, as VLCC spot rates surged above $100,000 per day earlier this year. Charterers hurried to secure ships amid declining availability.

Until now, MSC's involvement in Sinokor's expansion has been unclear. Market reports suggested that some of the vessels purchased by Sinokor were ultimately supported by affiliations with MSC founder Gianluigi Aponte, although neither company has publicly acknowledged a partnership.

The recent filing in Cyprus indicates that these behind-the-scenes connections are now becoming official.

This move is important for MSC, the largest container shipping company in the world, which has historically concentrated on liner trades but is now expanding into various maritime sectors, including terminals, logistics, cruise lines, and potentially significant involvement in the crude tanker market.

Financial details of the deal have not been disclosed, and neither MSC nor Sinokor has made any public comments regarding the agreement.