The world’s largest containership owner is buying oil tankers

Exact nature of deal between MSC’s ruling family and Korean owner remains shrouded in secrecy, but Aponte’s money is backing deals

Sources say MSC is negotiating up to eight VLCCs at Hengli yard

Some Sinokor acquisitions still to emerge, while deal for Delta Tankers duo may be off

Just as the United States and Western countries (including European ones) are targeting ships from the so-called 'shadow fleet' (which, according to many market analysts, is destined for mass demolition in the event of peace between Russia and Ukraine) Box shipping mogul Gianluigi Aponte, the man behind the largest container line in the world, is said to have earmarked up to $5bn for a massive tanker play and is now being linked to potential VLCC newbuild orders in China

According to multiple industry sources.

SINOKOR Maritime’s very large crude carrier buying spree is being funded by the containership mogul Gianluigi Aponte, the co-founder and president of the world’s largest containership owner, Mediterranean Shipping Co, according to multiple industry sources. Meanwhile SINOKOR Maritime’s very large crude carrier buying spree is being funded by the containership mogul Gianluigi Aponte, the co-founder and president of the world’s largest containership owner, Mediterranean Shipping Co, according to multiple industry sources.

The first rumors 

The first rumors of an increasingly close relationship between the two shipping groups based in South Korea and Switzerland emerged at the end of December, after MSC purchased four container ships from Sinokor .In 2025 alone, MSC added 55 second-hand container ships, 43 newbuilds, and 30 chartered vessels to its fleet. These are in addition to the four additional ferries ordered for GNV in China and the €7 billion in orders signed in France with Chantiers de l’Atlantique for MSC Cruises.

Sinokor has made headlines for purchasing around forty oil tankers on the second-hand market

In recent months, Sinokor has made headlines for purchasing around forty oil tankers on the second-hand market. "It's Aponte's money," a manager with direct knowledge of the financing is said to have said, according to Lloyd's List. The same source added that up to $5 billion has been earmarked for this major oil tanker project. Several other parties involved in related transactions also point to the MSC family as the financier of the deals. According to the British newspaper's findings, the sales contracts for at least some of the purchased vessels were signed by companies affiliated with the group, based in Geneva.

Push into VLCCs is difficult to pin down.

“It’s Aponte’s money,” said one executive with direct knowledge of the funding. As much as $5bn has been put aside for the big tanker play, said the same source.Numerous others who have been involved in specific transactions also point to the cash-rich family behind MSC and MSC Cruises as financing the deals.Whereas Lloyd’s List has established that sales agreements for at least some of the vessels have been signed by companies linked to MSC Group .Likewise, the exact nature of the relationship between Aponte and Sinokor owner Ga-Hyun Chung in the dramatic push into VLCCs is difficult to pin down.

Market speculation

Adding to speculation over MSC’s tanker ambitions, the group is also being linked to a new order for eight VLCC newbuildings at Chinese shipbuilder Hengli Heavy Industry.Market speculation about a closer relationship between the South Korea- and Switzerland-based shipowners has swirled since late December, after MSC acquired four secondhand Sinokor containerships

The plan,

The plan, however, would not only include purchases on the second-hand market but also an order for eight new VLCC ships from the Chinese shipyard Hengli Heavy Industry, the same one from which MSC has already commissioned at least 20 LNG-powered Megamax-class container ships.

MSC is an existing client of the yard

It is noteworthy that MSC is an existing client of the yard, where it has at least 20 LNG-fuelled megamax containerships on order, contracted in 2024 and 2025.In 2025 alone, MSC added 55 second-hand container ships, 43 newbuilds, and 30 chartered vessels to its fleet. These are in addition to the four additional ferries ordered for GNV in China and the €7 billion in orders signed in France with Chantiers de l’Atlantique for MSC Cruises.

The eight ships purchase

The ships include eight purchased from John Fredriksen-controlled Frontline, six from Belgium’s CMB.Tech, three from UK-based Zodiac Maritime and two from New York-listed International Seaways.A number of Greek owners also figure among the sellers, led by George Prokopiou-controlled Dynacom Tankers that has confirmed the sale of 12-13 VLCCs, with deliveries likely to start over the next fortnight.

The vessels purchased include eight from Frontline, six from Belgian company CMB.Tech, three from UK-based Zodiac Maritime, and two from New York-listed International Seaways. The sellers also include several Greek shipowners, such as Dynacom Tankers (George Prokopiou confirmed the sale of 12-13 VLCCs with deliveries scheduled in the next two weeks), Capital Maritime (led by Evangelos Marinakis), TMS Tankers (George Economou), Kyklades Maritime (owned by the Alafouzos family), and Chandris Group

Other Greek owners reported to be offloading VLCCs to Sinokor include Evangelos Marinakis-led Capital Maritime, George Economou’s TMS Tankers, the Alafouzos family’s Kyklades Maritime and Chandris Group. Others are understood to be under discussion. According to Sinokor, Greece-based Delta Tankers had agreed a price of $80.8m apiece for the 2012-built Delta Glory (IMO: 9602617) and Delta Angelica (IMO: 9602629). The pair are the oldest of Delta’s current five VLCCs.

MSC has declined to comment.

Most of the counterparties and others involved in the VLCC deals who have been talked to by Lloyd’s List say that the signs point to a massive investment in the sector by Aponte.Deals, however, remain shrouded in non-disclosure agreements and confidentiality clauses.It remains unclear at this stage whether a formal tanker joint venture has been established by the two sides, or whether there has been some form of asset swap — tankers for containerships — that has been agreed.In addition, the possibility that there is a loan finance element in the relationship cannot be ruled out.MSC has declined to comment.

Dynacom discussions with Chinese yard

Dynacom is currently in discussions with Chinese yard Hudong-Zhonghua Shipbuilding for an unconfirmed number of VLCCs for delivery in 2028. Although some rumours have mentioned Dynacom as being interested in 12 vessels, the group told Lloyd’s List that number is inflated and, anyway, no deal has yet been agreed.The owner already effectively has 20 newbuilding VLCCs on order, including four previously unreported options recently secured at Hengli. Prokopiou is known for consistently exercising contractual options.

Depending on the extent of any emerging sales to MSC, Sinokor controls more than 70 containerships, roughly half of which are under 10 years old. The company also has four 13,000 teu ships under construction at HD Hyundai Heavy Industries in South Korea.

Expansion of MSC 

MSC has expanded well beyond its core container business in recent years, moving into bulk carriers, cruise, ferry and vehicle carriers, but a tanker deal would mark the group’s first direct entry into the crude oil sector.The company’s diversification began in 1989 with the acquisition of Italian cruise operator Lauro Lines, later rebranded as MSC Cruises, now the world’s third-largest cruise operator.

Further expansion followed with the acquisition of ferry operator Grandi Navi Veloci in 2010 and the purchase of deepsea ro-ro operator Messina Line in 2020. A 49% stake in ferry operator Moby Lines arranged in 2023 has since been divested due to competition concerns. Most recently, MSC completed a $700m deal to acquire vehicle carrier provider Gram Car Carriers, which was concluded in 2024.

Entry into the oil tanker sector would add to a development

If confirmed, the entry into the oil tanker sector would add to a development and vertical and horizontal integration plan initiated by MSC over the last twenty years, well beyond its core container business, expanding into the bulk carrier, cruise, ferry, and car carrier sectors, as well as port terminals, land logistics (trains and road haulage), and recently into publishing (with the acquisition of the Genoese newspaper Il Secolo XIX).

About : Sinokor Merchant Marine Co

Sinokor Merchant Marine Co., Ltd was founded in 1989. Since then, the company grows rapidly and is now a leading marine transportation services provider which offers premium services over 60 ports in 20 countries including China, Japan, Russia, Vietnam, Thailand, Malaysia, Singapore, Taiwan, the Philippines, Indonesia, India, Myanmar, Cambodia, Bangladesh, Pakistan, Iran and the UAE

Sinokor is managing around 30 of its own vessels, and annually operates more than 15 chartered vessels weighing approximately 3 million deadweight tons in total, 80,000 TEU of counters, and 350,000 square meters of container yard and warehouse space. Sinokor has subsidiaries, branch offices and affiliates throughout the areas the company is servicing, enabling it to provide top class, customer-oriented services. In 2012, Sinokor set up its branch office in HK namely, Sinokor Hongkong Co., Ltd to cope with future development and better service customers in the South China region.

Related : MSC and Shandong Port Group open joint container yard in Qingdao

Source :  Lloyd's List + Others 
#Sinokor #Gianluigi Aponte #VLCC newbuild orders #China #Dynacom #Messina Line #MSC Cruises #Moby Lines #Gram Car Carriers # Lloyd's List # Hengli Heavy