Iran has warned of "legal action" against Sinokor Merchant Marine, the South Korean shipping company said to have carried more crude oil through the Strait of Hormuz than any other operator, citing violations of transit rules for the waterway. Seven very large crude carriers (VLCCs) linked to the company have already been damaged in missile or drone attacks.
The Persian Gulf Strait Authority (PGSA), set up by Iran to manage transits through the Strait of Hormuz, said on X, formerly Twitter, that "vessels belonging to Sinokor have committed the largest number of transit rule violations over the past three months, and corresponding enforcement measures have been taken against at least seven of them so far," according to Iran International on the 27th. "We warn all cargo owners, stakeholders and insurers. From the 1st of next month, legal action will be taken against all vessels belonging to this company," the authority said. The seven damaged vessels are the same ships that British shipping publication Lloyd's List reported had come under attack. The PGSA did not specify what measures it would take.
Sinokor has been singled out because of its overwhelming share of traffic through the strait. Tankers owned by the company carried 105.6 million barrels of crude through the Strait of Hormuz last month, according to a Bloomberg analysis of vessel-tracking data from shipping information providers including Vortexa, Equasis and Signal Ocean. That was 37% of the roughly 286.3 million barrels of crude that passed through the strait during the month, and more than the combined 97.3 million barrels moved by the second- through fourth-ranked operators — Saudi Arabia's state shipping line Bahri, Kuwait Oil Tanker Co. and the shipping arm of Abu Dhabi National Oil Co. (ADNOC). Lloyd's List reported that Sinokor accounted for 47% of VLCC transits last month, and that the share rose above 50% through the 10th of this month.
Iran announced the establishment of the PGSA in May. The body has published lists of vessels it claims violated Iran's transit rules for the strait, warning that those ships will face restrictions including fines, detention or confiscation on future passages. After naming 45 vessels in its first announcement on Aug. 24, it listed 77 last month and a total of 122 this month. Sinokor vessels have been on the list since the first announcement in August. The United States has imposed sanctions on the body and countered that shipping companies risk sanctions if they comply with its demands.