A New VLCC Leader - Inside Sinokor’s Market Rise
- 2 days ago
- 2 min read
26 February 2026 Signal
Global VLCC fleet capacity is projected to expand more aggressively through 2028. Taken together, scheduled deliveries from all major shipbuilding countries imply an average annual VLCC fleet growth rate of approximately 6% by 2028, assuming the current orderbook is delivered as planned.
Within this evolving environment, Sinokor Merchant Marine (Sinokor) has expanded its VLCC commercial footprint, positioning itself as the single largest Commercial Operator in terms of fleet size. The company’s timing aligns with a transitional point in the tanker cycle, where the balance between vessel supply growth and effective transportation demand will influence freight rate direction.
Data derived from the Signal Ocean Platform (TSOP) were used to evaluate the impact of Sinokor’s expansion on the VLCC market. The analysis examines fleet size, market share, and age distribution in order to provide a comprehensive and data-driven assessment of how Sinokor’s positioning alters the competitive landscape.
Sinokor’s Strategic Expansion
Over the past few months, it has been widely reported that Sinokor has embarked on an aggressive expansion in the VLCC segment, targeting both secondhand acquisitions and time-charter arrangements. Market chatter intensified in mid-December, pointing to a notable uptick in tanker S&P activity, although transaction details and counterparties were not yet fully disclosed.
By January, greater clarity began to emerge, with Sinokor identified as the principal buyer behind a substantial number of VLCC transactions. Reported figures varied considerably, with market estimates ranging from 20 to as many as 50 units.
As of today, we have confirmed 36 acquisitions through cross-referencing multiple market reports with TSOP vessel lists, which indicate Sinokor as the new Commercial Operator in the majority of cases. Approximately 26 vessels have already been delivered, while a further 10 are scheduled for delivery within the current or early next quarter. This total may increase further as additional transactions are finalized and pending deliveries are completed.
The aggressive expansion of the VLCC fleet is noteworthy, as the decision coincides with an upward trend in benchmark valuation assessments. For instance, the valuation for a 10-year-old VLCC has experienced a 24% annual increase, reaching its highest value in the last decade.
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