Supertanker tycoon is making millions from ‘dark’ Hormuz shuttle runs
Sinokor Group, led by tycoon Ga-Hyun Chung, has become a key player in transporting crude oil from the UAE through the Strait of Hormuz. Since mid-April, Sinokor's vessels have accounted for nearly half of Emirati shipments, potentially earning the company up to $120 million. The surge in tanker rates amid ongoing conflict has significantly boosted profits.
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Published 06 Jul 2026, 01:00 UTC · Updated 06 Jul 2026, 01:10 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections
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