Brokers flag 25 vessels in Sinokor’s VLCC buying bonanza

Multiple shipbroking sources confirm that Sinokor has been aggressively seeking to expand its VLCC exposure, combining secondhand purchases with increased time charter activity.

“While many were enjoying a relaxing festive period, Sinokor spent the holiday season aggressively acquiring a substantial VLCC fleet,” Hartland Shipping Services noted in its latest weekly report.

Shipbrokers have now detailed the bulk of the owner’s latest reported secondhand acquisitions, citing 25 vessels built between 2007 and 2016, averaging 12 years of age, in deals valued at around US$2Bn.

According to reports, Sinokor is believed to be behind two significant deals disclosed the previous week by publicly listed companies CMB.TECH and Frontline.

The Saverys family led CMB.TECH said its tanker arm Euronav divested six VLCCs – Daishan (2007), Hirado (2011), Hojo (2013), Dia and Antigone (both 2015), and Aegean (2016) – for approximately US$520–530M.

Meanwhile, John Fredriksen-backed Frontline sold eight of its oldest VLCCs, built between 2015 and 2016, for a total of US$832M. Brokers identified the vessels as Front Dee, Front Tay, Front Sprey, Front Cloud, Front Forth, Front Clyde, Front Otra, and Front Osen.

Greek owners join the sale fest

Greek shipowners, known for securing strong prices, have also reportedly divested VLCCs to Sinokor.

Reports indicate that Capital Group, led by Evangelos Marinakis, sold 2010-built Atlantas and Achilleas for US$140M. Delta Tankers, controlled by Diamantis Diamantidis, reportedly offloaded 2012-built Delta Angelica and Delta Glory for US$160M.

Chandris (Hellas) is linked with the sale of 2011-built Oceanis for around US$68M, while Kyklades Maritime, led by the Alafouzos family, divested 2011-built Nissos Psara at a reported price of around US$56M after acquiring it last October.

Another Greek owner, TMS Tankers under George Economou, reportedly sold 2010-built Solana and 2011-built Desimi for approximately US$136M.

Additional transactions include International Seaways, which is said to have sold 2010-built Seaways Raffles and 2012-built Seaways Kilimanjaro for an undisclosed sum, and Turkey’s Advantage Tankers, which reportedly sold 2009-built Advantage Value for US$56M. A 2010-built vessel, Felice, now under Vietnamese ownership, reportedly fetched US$60M.

Deals fuel market liquidity

Commenting on these transactions, Allied Shipbroking said Sinokor’s acquisitions over a short period “have taken over the entire market liquidity and positively influenced pricing strategies in the segment.”

“Transactions occurred at firm and assertive price levels, marking a clear upgrade in VLCC asset benchmarks,” Allied added.

Shipbrokers highlighted that Sinokor often paid above market levels to secure mid-aged vessels. For instance, while a 15-year-old VLCC is typically priced at US$60–65M, some acquisitions reportedly cost up to US$5M more.

Allied also noted that Sinokor’s focus on vessels built mainly between 2010 and 2016 reflects a strategic choice: ships with remaining trading life that meet technical and regulatory compliance. “This age window offers the best cost efficiency and employability, particularly given ongoing requirements for emissions, fuel quality, and vetting standards,” the broker said.

Analysts also observe that, despite new VLCC sales candidates entering the market in early 2026, most are already at or beyond 20 years old. This keeps modern and mid-aged vessel supply limited, intensifying price pressures and supporting asset values. Following Sinokor’s reported purchases, VLCC values have risen 1%-5% across all sizes over the past month, Allied data shows.

Container vessel fleet divestment talks

Amid the frenzy of VLCC deals, there is growing market talk that Sinokor may divest part of its container vessel fleet, with MSC emerging as a potential buyer. 

Sources suggest ongoing negotiations involve roughly 20 ships in an en bloc deal, though some brokers speculate that the entire Sinokor container fleet – around 80 vessels, including units under construction – could be sold in the coming months.

MSC, the world’s largest liner operator, has dominated the secondhand container market in recent years, acquiring nearly every available vessel. According to Alphaliner, MSC currently operates 971 ships with 120 more on order.

Notably, in 2025, Sinokor was also linked to bulk carrier disposals, with large vessels changing hands rapidly.