Sinokor ‘gambles big’ on VLCCs with first spot fixtures and talk of five-ship Frontline swoop

South Korea’s Sinokor Merchant Marine is making a big play in the VLCC sector chartering in its first four spot vessels at high rates in the first week of 2024 while also being named as the buyer of five VLCCs from John Fredriksen’s Frontline.

The enigmatic owner, which already has at least 39 VLCCs under its control either as owned vessels or time-chartered tonnage, was seen chartering in the 320,000-dwt Oceanis (built 2011), 319,000-dwt Agitos Nikolas (built 2019), 319,000-dwt Olympic Target (built 2011) and 321,000-dwt Agitos (built 2019).