The Week in Charts: China-controlled vehicle carriers clear MEG | Sinokor’s buying spree pulls three former shadow fleet tankers into the light
- All Chinese shipowner-controlled vehicle carriers trapped inside the Middle East Gulf have exited
- Since December 2025, Sinokor has bought nearly 70 VLCCs, including three vessels previously linked to Iranian and Venezuelan shadow fleet crude trades
- Sinokor’s purchases marks one of the first times a big shipowner has acquired VLCCs with documented histories of AIS spoofing and sanctioned oil movements
Lloyd’s List’s weekly showing of the data and figures behind our news, analysis and markets coverage
A total of 16 pure car and truck carriers operating long-haul services became stranded after arriving in the region before the conflict escalated and effectively closed access through the strategic waterway.
Four of those vessels were controlled by Chinese shipowners and are understood to have been carrying cargoes for state-backed automaker SAIC Motor.
Sinokor’s buying spree pulls three former shadow fleet tankers into the light
Sinokor’s aggressive buying spree of very large crude carriers — nearly 70 ships since December 2025 — includes three former shadow fleet* vessels, marking one of the first known instances of a major shipping company acquiring VLCCs previously linked to Iranian or Venezuelan crude movements, wrote senior risk and compliance analyst Bridget Diakun, senior reporter Ece Göksedef and Rob Willmington.
Since launching its secondhand VLCC raid in December 2025, Sinokor has received 59 ships, with another seven due for delivery soon, according to Lloyd’s List data.
About 70% were purchased through Liberian- and Panamanian-registered companies tied to the MSC Group’s Aponte family. The remaining vessels were bought through Sinokor-linked entities.
Global ship recycling yards face quietest market in months
Global ship recycling sales fell to their lowest level in a year during May, as robust freight markets continued to discourage shipowners from sending older vessels for demolition, reported Rob Willmington.
Reported vessel sales last month shows that most activity was provided by specialised vessels, especially in the offshore sector.
Nevertheless, a limited number of significant sales were provided by the containership and dry cargo sectors during May, data from cash buyer Wirana Shipping data shows.
Tankers dominate coordination with PGSA for safe crossings as truce talks stall
Crude oil tankers have taken the lead in coordinating transits in both directions along the Strait of Hormuz with Iranian officials since the Persian Gulf Strait Authority was unilaterally established by Tehran to control shipping movements across the strait in April, wrote senior reporter Matthew Rajendra and Bridget Diakun.
According to the PGSA today, more than 300 non-Iranian vessels applied for permits for safe passage across the strait. But it did not say how many were granted transit permits. Actual figures could be lower, with the PGSA adding that it cannot issue permits to vessels from countries Iran considers to be hostile.
It also added that it will prioritise ships affiliated with governments aligned with Iran.
Trump tariffs poised to ramp up again soon, another wildcard for shipping
It’s easy to forget that the US tariff saga is far from over amid the intense focus on the Middle East war and the Hormuz crisis senior maritime reporter Greg Miller.
But the tariff wildcard for shipping is still very much in play.
The tariff issue will likely reignite within the next seven weeks as the Trump administration moves to permanently replace the emergency levies it lost in its US Supreme Court defeat.
