2026-01-26
NOTOS MARITIME WEEKLY

SINOKOR EXPANDS ITS VLCC FLEET 

Rumors about Sinokor’s move to secure control of 30-40 VLCCs - either through outright purchases or long-term charter-ins - have sent shockwaves through the crude tanker market. Already a well-diversified private company with assumed more than 100 vessels (including group companies, subsidiaries, affiliates, joint ventures, and managed vessels) across bulk, container, and tanker sectors, Sinokor appears to be executing a decisive strategic pivot.

Based on the most recent fleet data, Sinokor’s controlled fleet, as defined above, now exceeds 16.5 m dwt, with crude tankers accounting for 58% and product/chemical tankers 21% of the total. However, these figures may not yet reflect the latest transactions. As many - if not most - of the newly controlled VLCCs previously operated in the spot market, the pool of available prompt tonnage has tightened considerably, likely contributing to the recent sharp rebound in freight rates.

The key question now is whether the market will stabilize ahead of the Chinese New Year, or if this marks the beginning of a sustained bull cycle? 

BULKERS LEAD THE WAY
Shipping equities advanced 2.6% last week, driven by a standout 7.1% rally in the dry bulk sector. This surge was largely fueled by the sharp appreciation in Pangaea’s share price. Offshore supply vessel owners also posted strong gains, averaging +6.1%, while VLGC owners underperformed, declining by 1.4%.

Historically, dry bulk equities tend to perform particularly well between February and March. This pattern supports our hope that the dry bulk sector may continue to outperform the broader shipping market in the weeks ahead.

Our trading strategy delivered an excellent weekly return of 5.1%. Once again, this outperformance was primarily driven by our exposure to both dry bulk and wet bulk shipping names.

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This document contains forward-looking statements. We caution the reader that forward-looking statements are not guarantees of future performance. Past returns are no indication of future returns. The development of the industry, markets, and companies described in this document may differ materially from the forward-looking statement contained herein.

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