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SK Shipping acquires Sinokor VLCC quartet

South Korean owner SK Shipping has taken over four VLCCs from compatriot owner Sinokor in an en bloc deal.

Multiple shipbroking houses report that Sinokor has sold four VLCCs, the 2020-built V. Prosperity and 2019-built V. Advance, V. Harmony and V. Glory, with Intermodal identifiying the buyer as SK Shipping.

The price for each vessel is $90m, and the deal also includes a 10-year charter contract with South Korean oil company GS Caltex at a rate of $30,000 per day.

If confirmed, the acquisition will expand SK Shipping’s VLCC fleet to 24 vessels with an additional two VLCCs under construction at Hyundai Samho.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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